EUR/USD Forex Analysis 7 of February 2013

 

 

The EUR/USD currency pair is on its highest peak of the day in the close vicinity of the 1.3578 level with a next level predicted to be close to the 1.3550 point this event took place because of the recently announced European Central Bank’s action. Nonetheless the 1.3500 level kept its trend very well for the trading session of today.

 

The European Union debut supported the 1.3521 level.

 

Meanwhile in Spain the 5-year bond auction was announced to be close to a positive 4.123% and two year debt auction is close to the positive +2.823%. The Industrial Output (I.O.) in Spain came in very high than most traders expected from a figure of -7% to a negative -6.9% in the last month of 2012.

Breaching the 1.3500 zone and most important the 1.3458 level would definitely clear the way to the next heavy support area close to the 1.3400, most traders are now pointing to the 1.3600 level

 

 

 

High point= 1.3580

Low point = 1.3503

Trend index = +0.35% Strongly Bearish

 

 

 

 

 

 

 

Support 1 = 1.3522                                                  Resistance 1 = 1.3662

Support 2 = 1.3489                                                  Resistance 2 = 1.3694

Support 3 = 1.3456                                                  Resistance 3 = 1.3731