EUR/USD Forex Analysis 30 of January 2013

 

 

The EUR/USD currency pair is now in the close vicinity of the 1.3485 point nonetheless a small breach of the 1.3500 will definitely open the buying appetite for today’s trading session

 

The most awaited event for today is the release of the A.D.P. employment figures and the release of the G.D.P. numbers in the United States.

Most traders announce that the early release of the A.D.P. figures will clearly bring a high-rate increase of +2.9% in Q3. Thus the cross will increase by +1.1% compared to the predicted +0.8%.

 

Meanwhile in the European Area the European Central Bank has recently announced that the euro zone needs a higher exchange rate to improve the trading session for today, some analysts announced that the Spanish economic activity having a negative effect on the trading momentum.

All investors believe that an important social event will be to breach the resistance point of 1.3487 by reaching these numbers all traders would clear the way for a short move towards the 1.3791 desired level.

 

 

High point= 1.3568

 

Low point = 1.3482

 

Trend index = +0.40% Slightly Bullish

 

 

 

 

Support 1 = 1.3386                                                  Resistance 1 = 1.3537

Support 2 = 1.3419                                                  Resistance 2 = 1.3571

Support 3 = 1.3386                                                  Resistance 3 = 1.3605