EUR/USD Forex Analysis 9th of January 2013

 

The EUR/USD “fiber” currency pair will be influenced today by the release of the I.P.G. (Industrial Production in Greece) the +2.8% value came in very low compared to the expected value of +3.3%.

The trading session in Asia brought new moves to the cross this morning, nonetheless the economic calendar continues to stay full for today all traders are waiting for the release of the G.I.P (German Industrial Production) numbers.

The EUR/USD currency trading will also be influenced by tomorrow’s meeting of the European Central Bank and afterwards by the press conference. Most important everyone expects Mr. Draghi to remain in standby mode until the European Central Bank makes any announcements, because of this ongoing event trading should stay balanced for the time being.
The cross is currently in the vicinity of the 1.3072 point, some support is expected to appear next to the 1.3058, 1.3036 and 1.3018 points.
On the other side of the coin some a smash of the 1.3140 point would clear the way to the 1.3144 and 1.3161 high points.

 

High point= 1.3098

 

Low point = 1.3045

 

Trend index = -0.18% Slightly Bearish (Oversold)

 

 

Support 1 = 1.3027                                                  Resistance 1 = 1.3111

Support 2 = 1.2994                                                  Resistance 2 = 1.3144

Support 3 = 1.2962                                                  Resistance 3 = 1.3177