EUR/USD Forex Analysis 5th of March 2013




The EUR/USD currency pair is now surrounded by a fresh stream of positive figures provided by the European zone, for instance the release of the R.S. (the retail sales) went up by a positive value of +1.2% on a month to month term this change increased the trading momentum by +1.3% in the last 11 months, shadowing the +0.2% value and lastly the -2.9%. The shared currency pair continued its trend downwards in the close vicinity of the 1.3055 level.

Many analysts are now waiting for the release of the United States I.B.D and T.I.P.P Economic Optimism figures and for the early release of the Non Manufacturing P.M.I prints, predicted to be somewhere around the 46.1 value and 54.9.

The trading momentum is now up by a positive value of +0.25% in the close proximity of the 1.3058 point with some resistance expected to reside close to the 1.3101 point clearly way in front of the 1.3108 level and finally the 1.3114 point.
On the other side of the coin many traders have identified many consistent support levels in the close vicinity of the 1.3018, 1.2982 and finally the 1.2966 points.




High point= 1.3076


Low point = 1.3019


Trend index = 0.12% – Slightly Bearish






Support 1 = 1.3004                                                  Resistance 1 = 1.3054

Support 2 = 1.2971                                                  Resistance 2 = 1.3087

Support 3 = 1.2939                                                  Resistance 3 = 1.3119