EUR/USD sitting not so pretty at 1.36 the figure

By FXstreet.com | Updated July 30, 2014 AAA

FXStreet (Guatemala) - Currently, EUR/USD is trading at 1.3600, down -0.03% on the day, having posted a daily high at 1.3606 and low at 1.3598.

Valeria Bednarik, chief analyst at FXStreet noted how the EUR/USD range is tighter with the pair posting a doji daily basis, for second day in a row. “Early Europe weak PMI readings put the pair under mild pressure, albeit buyers surged on a test of 1.3770/80 static support area. US manufacturing PMI however, printed a healthy 57.5 showing steady signs of growth over that side of the Atlantic. Nevertheless, stocks fell after closing at record highs on Friday, and the EUR/USD managed to hold around the 1.3600 figure”.

EUR/USD technically bearish

“Technically”, she explained, “there’s not much to add in the overall view…“In the 4 hours chart a mild bearish tone comes from momentum indicators albeit only a break below mentioned support the greenback may see some follow through”.

EUR/USD Levels

With spot trading at 1.3600, we can see next resistance ahead at 1.3605 (Daily Open), 1.3606 (Daily High), 1.3607 (Weekly High), 1.3608 (Daily 20 SMA) and 1.3615 (Yesterday's High). Support below can be found at 1.3599 (Daily Classic PP), 1.3598 (Daily Low), 1.3598 (Hourly 20 EMA), 1.3590 (Hourly 100 SMA) and 1.3585 (Weekly Classic PP).

You May Also Like

Related Forex Analysis
  1. Weekly Trading Forecast: Volatility Keeps Boiling in the FX Market
    Forex News

    Weekly Trading Forecast: Volatility Keeps Boiling in the FX Market

  2. Trading Video: Officials Trigger Volatility for Euro, Yen and Dollar
    Forex News

    Trading Video: Officials Trigger Volatility for Euro, Yen and Dollar

  3. Strategy Video: A Volatile Thanksgiving Week for FX?
    Forex News

    Strategy Video: A Volatile Thanksgiving Week for FX?

  4. US Session: The market left shell-shocked on Draghi
    Forex News

    US Session: The market left shell-shocked on Draghi

  5. EUR/USD back into the bears den, downside wide open
    Forex News

    EUR/USD back into the bears den, downside wide open

Trading Center