EUR/USD Forex Analysis 24 of January 2013

 

 

Today the EUR/USD currency pair showed few changes in its selling and buying trend, the momentum is currently balancing itself in the close vicinity of the 1.3330 point this event occurred right after the early release of the P.M.I. numbers in the European Union, these numbers came in very good in Germany.

All traders announced that the current numbers hovering over the European area are very satisfying to the trading sentiment even better than most predictions in addition to this event the release of the retail sales numbers in Italy brought investors new opportunities.
Meanwhile in the United States all traders are still waiting for the release of the weekly report on the U.S. labor figures as well as the manufacturing P.M.I. predicted to reach a value of 52.

For the time being the trading momentum is on the high wing +0.04% close to the 1.3325 point with some resistance expected to appear next to the 1.3355 point clearly way in front of estimated 1.3372 numbers and lastly the 1.3398 zone.
On the other side of the coin a short trip below the 1.3265 point would definitely clear the way towards the 1.3248 point and finally the 1.3235 point.

 

 

High point= 1.3348

 

Low point = 1.3286

 

Trend index = +0.11% Slightly Bullish

 

 

 

Support 1 = 1.3246                                                  Resistance 1 = 1.3336

Support 2 = 1.3212                                                  Resistance 2 = 1.3370

Support 3 = 1.3179                                                  Resistance 3 = 1.3403