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16 May 2013
Forex: EUR/USD holding up against 1.2845/50 support
FXstreet.com (London) - EUR is holding up for the time being, with a market very long of dollars with still a preference to short EUR/USD in advances any higher towards 1.2900 the figure.
The market is patient ahead of plenty of US data with Claims/CPI/Philly and the Fed circuit, with Plosser Rosengren, Fisher Raskin, Williams speaking. Closes above the pivot point after the data opens up risk to the upside while April lows will otherwise be next target range for the pair at 1.2745. Below the neck line of the head and shoulders formation on the daily chart which could open up the bears cage for a run towards and back to the doldrums of 1.2000
The market is patient ahead of plenty of US data with Claims/CPI/Philly and the Fed circuit, with Plosser Rosengren, Fisher Raskin, Williams speaking. Closes above the pivot point after the data opens up risk to the upside while April lows will otherwise be next target range for the pair at 1.2745. Below the neck line of the head and shoulders formation on the daily chart which could open up the bears cage for a run towards and back to the doldrums of 1.2000