EUR/USD Forex Analysis 5 of February 2013




The EUR/USD currency pair is now gaining speed in this trading session and bouncing very close to some lows somewhere around the predicted 1.3480 level.

The “fiber” trading feeling is now going over the 1.3550 zone this event came to past after the early release of the data out of the European Union. The early release of the P.M.I. prints brought the low retail sales results to a higher zone nonetheless the trading correction of the momentum continues to keep strong.

For the time being the trading momentum is now up by +0.21% in the vicinity of the 1.3541 area nonetheless some resistance is expected to show somewhere around the 1.3660 point clearly way ahead of the 1.3664 – “Upper Bollinger” resistance point.
On the other side of the coin a short break of the 1.3415 low-point would clearly aim for the next desired spot of 1.3377



High point= 1.3570


Low point = 1.3458


Trend index = +0.38% Slightly Bullish





Support 1 = 1.3431                                                  Resistance 1 = 1.3587

Support 2 = 1.3398                                                  Resistance 2 = 1.3620

Support 3 = 1.3364                                                  Resistance 3 = 1.3654