EUR/USD Forex Analysis 8 of March 2013

 

 

The EUR/USD shared currency pair went on to new high points today settling close to the 1.3118 level this occurred because the “fiber” currency pair traded almost all day close to the 1.3100 key-point Asian and European trading sessions.

 

The early European Union opening marked the 1.3101 level as a “must have” and the trading sentiment continued shadowing the 1.3083 point as a solid support point.

The European Central Bank will be releasing the L.T.R.O. repayment data today nonetheless Mr. Draghi announced that there is a total sum of 40%.

 

Many traders are now waiting for the release of the I.O. figures (the industrial production) in Germany industrial production predicted to increase from a value of  +0.3% to +0.5% in the first month of 2013.

The EUR/USD currency pair is now close to the 1.3178 point above all many investors are now indicating as a consistent support point the 1.2877 level.

 

 

High point= 1.3137

 

Low point = 1.3081

 

Trend index = +0.11% – Slightly Bullish – Overbought

 

 

 

 

 

Support 1 = 1.3038                                                  Resistance 1 = 1.3190

Support 2 = 1.3005                                                  Resistance 2 = 1.3222

Support 3 = 1.2971                                                  Resistance 3 = 1.3256