EUR/USD Forex Analysis 25 of February 2013

 

 

 

The EUR/USD currency pair continued increasing its high points all over the trading session today this came under the lime light right after touching the 1.3200 level.

The “fiber” currency pair went past last week’s high point of 1.3246 and is now racing towards the 1.3290 level. Many traders believe that there are plenty of investors scared to the bone because of the “downhill” trading momentum compared to the high 1.3711 point.
A major event today in the European Union is the Italian PM election nonetheless on the 25th of February Mr. Bernanke will announce the annual testimony, also most traders will keep a close eye on Mr. Weidmann’s announcement today in Germany.

 

Meanwhile in the United States the economic calendar is stamped by the early release of the indexes of the Chicago Fed and the Dallas Fed.

Breaching the 1.3243 level is very close to most predictions nonetheless many traders are now pointing to bearish stance next to the 1.3144 level.

 

 

 

High point= 1.3276

 

Low point = 1.3181

 

Trend index = +0.40% – Extremely Overbought

 

 

 

 

 

 

Support 1 = 1.3169                                                  Resistance 1 = 1.3270

Support 2 = 1.3136                                                  Resistance 2 = 1.3303

Support 3 = 1.3103                                                  Resistance 3 = 1.3336