EUR/USD Forex Analysis 23 of January 2013

 

 

The EUR/USD single currency pair is now standing in the vicinity of 1.3300 the key-point this event took shape right after the early release of the F.B.C numbers in European Union (French Business Climate) clearly this announcement let investors down, the rates went down to a value of 86 in compared to the value of 90 as all traders expected.

All traders are currently eyeing the long awaited press conference held by Prime Minister of the UK Mr. David Cameron about the consistency of the European Union.
Also many traders believe that there some unrest regarding UK’s ongoing membership to the European Union this announcement could very well lead to the UK’s departure from the European Union. This scenario of social uncertainty will bring dire news to the economic growth of the EU.

The momentum is currently down by -0.16% close to the 1.3300 point and short trace under the 1.3267 key-point would bring in to the lime light the 1.3248 point followed by the 1.3200 point.

On the other side of the coin a breach of the 1.3372 point would clear the way for the 1.3398 point and lastly the 1.3404.

 

 

High point= 1.3331

 

Low point = 1.3289

 

Trend index = -0.21% Strongly Bearish

 

 

Support 1 = 1.3228                                                  Resistance 1 = 1.3400

Support 2 = 1.3261                                                  Resistance 2 = 1.3433

Support 3 = 1.3228                                                  Resistance 3 = 1.3466