EUR/USD Forex Analysis 18 of January 2013

 

 

The EUR/USD currency pair now at the end of the trading week back on its feet in the vicinity of the 1.3300 key-point, this event occurred right after the recent low point of 1.3290 closely followed by a risk sentiment for the trading session.

Most traders announce that the EUR/USD “fiber” currency pair did not manage to touch the 1.3400 area and now the cross can’t move to a certain high point above the previously mentioned area, also everyone says that a very sad scenario is reaching the 1.3260 low-point this wave could accelerate downwards close to the 1.3130 area.

 

For the time being trading feelings are kept safe as all traders expect the quick breach of the 1.3400 to take place, today the final expected point is the 1.3430 point. A close run to the 1.3485 key-point would definitely prove to be a bit of satisfaction for some investors.

The momentum is down by -0.44% close to the 1.3345 point with some support expected around the 1.3270 1.3258 and 1.3249 points.
On the other side of the coin a short breach of the high 3404 point would clear the way towards the 1.3417 point on its way to the 1.3487 pinnacle expected for the end of the trading session for this week.

 

 

High point= 1.3401

 

Low point = 1.3296

 

Trend index = -0.44% Strongly Bearish

 

 

 

Support 1 = 1.3322                                                  Resistance 1 = 1.3441

Support 2 = 1.3289                                                  Resistance 2 = 1.3475

Support 3 = 1.3255                                                  Resistance 3 = 1.3508