EUR/USD Forex Analysis 28 of January 2013



The EUR/USD “fiber” currency pair continued all morning the long awaited buying avalanche somewhere around the 1.3400 level nonetheless an extension to this point is expected to appear today close to the end of the trading session.

Most traders announce that the EUR/USD currency pair went out of its shell and breached the 1.3400 point and went higher than everyone expected in the vicinity of the 1.3480 point.

Some dips below the trading point were seen but they were very few. The targeted point continues to stay around the 1.3500 level nonetheless a short move to the 1.3760 and 1.3810 points are not out of the question.

For the time being the trading momentum is down by -0.13% close to the 1.3448 level with close support at the 1.3410 point followed close by the 1.3349 level and lastly the 1.3347 point.
On the other side of the coin a short breach of the 1.3470 level would clear the way towards the 1.3487 point on its way to the 1.3491 level.



High point= 1.3472


Low point = 1.3430


Trend index = -0.25% Slightly Bearish





Support 1 = 1.3406                                                  Resistance 1 = 1.3537

Support 2 = 1.3372                                                  Resistance 2 = 1.3571

Support 3 = 1.3339                                                  Resistance 3 = 1.3605