EUR/USD Forex Analysis 20 of February 2013

 

 

The EUR/USD currency pair is now very close to the 1.3410 level this came in as a surprise to most traders because it was triggered by the early release of the German and French data in the European Union.

The trading momentum has already gone to some high points but all traders are patiently waiting for the announcement of the Italian industrial sales and orders.

The release of the C.P.I. and H.I.C.P. figures in Germany went down towards a round value of +1.7% and +1.9% according to the trading cross. The numbers of the first month of 2013 brought a change of +1.5% towards +1.7%, overall the data went up by a value of +0.8% on the month.

Many traders agreed that the release of the French business figures improved the trading sentiment of today this took place mostly because of the 87 to 90 in February change.
Many investors believe that most of the important trading point will continue to stay under pressure of the 1.3520 resistance point nonetheless a short term recovery above 1.3420 is very possible to take place.

 

High point= 1.3435

 

Low point = 1.3382

 

Trend index = +0.18% Slightly Bearish

 

 

 

 

 

Support 1 = 1.3359                                                  Resistance 1 = 1.3427

Support 2 = 1.3325                                                  Resistance 2 = 1.3461

Support 3 = 1.3292                                                  Resistance 3 = 1.3495