EUR/USD Forex Analysis 16 of January 2013

 

 

The EUR/USD currency pair is now very close to the 1.3300 point this event occurred after European Central Bank’s spokesperson announced that the Euro trading is not a problem for the moment.

This announcement came in very close to yesterdays announcement that inflation will put many pressures in the European zone, these actions will mostly have a positive effect for Germany.

The European Central Bank’s bond purchasing idea continues to stay in the blueprint phase basically idea was not yet passed to any decision board.

The momentum is above the trading feeling of the 1.3006 point, some resistance levels are expected to show in the vicinity of the 1.3373 high point clearing the way towards the 1.3404 recent high point and lastly the 1.3487 point.

On the other side of the coin a short breach of the 1.3265 point would clear the way close to the 1.3249 point and finally the 1.3201 pinnacle.

 

High point= 1.3319

 

Low point = 1.3261

 

Trend index = -0.04% Slightly Bullish

 

 

 

 

Support 1 = 1.3219                                                  Resistance 1 = 1.3350

Support 2 = 1.3185                                                  Resistance 2 = 1.3384

Support 3 = 1.3152                                                  Resistance 3 = 1.3417