EUR/USD Forex Analysis 22 of January 2013

 

 

The EUR/USD currency pair went below the 1.3350 point this morning some pressure is expected to appear close to the 1.3271 point as well. Many traders believe that this new wave of pressure is mostly generated by recent EU bank losses in Germany and Italy.

All analysts are now waiting for the release of the German Z.E.W. survey hoping this will bring new trading feelings to the momentum nonetheless the cross is in a positive trend now and it won’t be long until this aspect changes to a negative downwards trend.

Another important financial headline states that Portugal and Ireland have asked for an extension on the E.F.S.F. in order to bring down their loan expenses, this problem will be discussed to today in the European Group conference.

Reaching the 1.3405 zone will be very hard to achieve mostly because this high value will bring new short term resistance also touching the 1.3561 area will be even harder.

 

On the other side of the coin some support is expected to appear close to the 1.3250 point and lastly next to the 1.3091 zone.

 

 

 

High point= 1.3373

 

Low point = 1.3267

 

Trend index = +0.19% Strongly Bearish

 

 

 

Support 1 = 1.3306                                                  Resistance 1 = 1.3340

Support 2 = 1.3273                                                  Resistance 2 = 1.3373

Support 3 = 1.3239                                                  Resistance 3 = 1.3407