EUR/USD Forex Analysis 8 February 2013

 

 

The EUR/USD currency pair is currently holding a steady trading momentum around the 1.3419 right after the retrace of the 1.3400 point this occurred right after the E.U. Council decided on the 2014-2020 budget.

The Industrial Output (I.O.) figures in Italy went from a value of -7.7% close to the point of -6.5% in the last month of 2012 this value indicated a short +0.4% monthly increase.

 

The recently announced C.P.I. figures in Greece indicated a slight improvement from +0.8% to +0.2% in the first month of 2013 nonetheless the industrial production had its share if regeneration and went from a value of -3.2% to -0.5%.

Most traders indicate as resistances points the 1.3415, 1.3460 and 1.3575 levels.

 

On the other side of the coin some support is bound to appear close to the 1.3320 and finally the 1.3270 desired level.

 

 

 

 

High point= 1.3431

 

Low point = 1.3381

 

Trend index = +0.21% Strongly Bearish

 

 

 

 

 

Support 1 = 1.3521                                                  Resistance 1 = 1.3660

Support 2 = 1.3487                                                  Resistance 2 = 1.3695

Support 3 = 1.3453                                                  Resistance 3 = 1.3729