EUR/USD failing ahead of the1.33 handle

By FXstreet.com | Updated August 21, 2014 AAA

FXStreet (Guatemala) - EUR/USD is trading at 1.3279, down -0.01% on the day, having posted a daily high at 1.3283 and low at 1.3278.



EUR/USD has been trying to achieve higher ground but has not been a convincing come back in anyway, failing ahead of the 1.33 handle. Dukascopy Bank Team at Dukascopy Bank SA explained that despite toughness of the demand area around 1.33 and ‘buy’ signals on the monthly chart, the bears continued to push the price lower. “The currency pair has already closed beneath the 2013 Q4 low and monthly S1, meaning the downward momentum is likely to persist in the coming weeks. The next significant support level is represented by the monthly S2 at 1.3450, followed by the 2013 September low at 1.31. The share of bullish market participants continues to grow while the Euro is becoming cheaper. Right now 58% of open positions are long. Concerning the pending orders, there is currently no difference between the amounts of buy and sell ones”.



EUR/USD support and resistance levels



Support levels: 1.3250 1.3210 1.3170



Resistance levels: 1.3310 1.3340 1.3385



comments powered by Disqus
Related Forex Analysis
  1. EUR/USD extends gains to 1.2640
    Forex News

    EUR/USD extends gains to 1.2640

  2. EUR/USD 1.2700 is Resistance Now
    Forex News

    EUR/USD 1.2700 is Resistance Now

  3. US Dollar Forecast to Rally Further, but Why Have Risks Grown?
    Forex News

    US Dollar Forecast to Rally Further, but Why Have Risks Grown?

  4. Euro Forecast to Depreciate Further versus Dollar
    Forex News

    Euro Forecast to Depreciate Further versus Dollar

  5. Natural gas pares gains after supply report
    Forex News

    Natural gas pares gains after supply report

Trading Center