EUR/USD Forex Analysis 21 of January 2013

 

 

The EUR/USD “fiber” currency pair has is now very close to the 1.3330 point overall this is good news because all traders placed their hopes on the 1.3300 zone, the low 1.3302 zone took shape as soon as the EU morning begun, therefore for this trading session of today the key-area will be the 1.3330 point.

The release of the P.P.I. numbers in Germany came in a little early and brought a slight contraction of -0.3% to trading sentiment as everyone expected. Nonetheless the main objective of this figure brought a yearly jump from +1.4% towards +1.5%, very close to the predicted value of +1.7%.

The Euro Group meeting is the big headline for today all traders are hoping to receive some trading information and index on this meeting, some of the lime light events are mostly social problems such as supporting financial aid for Cyprus, the completion of the transaction tax.

All traders announce that the trading sentiment has a black cloud above it keeping its downside very fragile to new events. Nonetheless some risk is expected to appear close to the 1.3300 and 1.3280 points.

 

For the time being the EUR/USD currency pair is in its daily resistance stance.

 

 

 

High point= 1.3333

 

Low point = 1.3302

 

Trend index = 0.00% Strongly Bearish

 

 

 

Support 1 = 1.3241                                                  Resistance 1 = 1.3360

Support 2 = 1.3208                                                  Resistance 2 = 1.3393

Support 3 = 1.3175                                                  Resistance 3 = 1.3427