EUR/USD Forex Analysis 27 of February 2013

 

 

The EUR/USD trading currency pair is currently racing towards the 1.3086 zone, this happened immediately after the early release of the United States date about durable goods orders, these values increased by far above most predictions closing at a positive +5.2% value compared to the -4.3% recent values, by analyzing the transportation orders most traders believe that these orders are on a positive trend close to the +1.9% value.

All investors are now waiting for the United States to unfold the P.H.S. data today (the Pending Home Sales) clearly way in front of European Central Bank’s Mr. M. Draghi’s long awaited speech.

Right now the trading momentum is up by a positive value of +0.21% in the close vicinity of the 1.3088 level thus reliable support levels can be seen close to the 1.3125 point, then 1.3319 and lastly the 1.3371 level.
On the other side of the medal breaching the 1.3019 value would definitely open the door towards the 1.2998 level and lastly the 1.2996 “desired” point.

 

 

High point= 1.3125

 

Low point = 1.3040

 

Trend index = +0.19% – Slightly Bearish

 

 

 

 

Support 1 = 1.2988                                                  Resistance 1 = 1.3093

Support 2 = 1.2956                                                  Resistance 2 = 1.3126

Support 3 = 1.2923                                                  Resistance 3 = 1.3159