EUR/USD Forex Analysis 11 February 2013

 

 

The EUR/USD currency pair is now close to the key resistance point in the vicinity to the 1.3400 level, the trading sentiment is now trading around the 1.3375 level on the debut of the week.

Many traders believe that the European single currency more than likely start trading on a 1.3000/1.3700 range over the next few months compared to the US Dollar’s high trend towards the 1.4000 level

For the time being the trading momentum is up by +0.10% in the vicinity of the 1.3382 level with some resistance near the 1.3426 level way ahead of the 1.3430 level and lastly the 1.3462 point.

On the other side of the coin a short breach of the 1.3326 point would clearly target the 1.3265 level on its way to the 1.3216 point.

 

 

 

High point= 1.3413

 

Low point = 1.3357

 

Trend index = +0.29% Slightly Bullish

 

 

 

Support 1 = 1.3320                                                  Resistance 1 = 1.3398

Support 2 = 1.3287                                                  Resistance 2 = 1.3432

Support 3 = 1.3254                                                  Resistance 3 = 1.3465