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17 Dec 2013
EUR/USD climbs into European session
FXstreet.com (Barcelona) - EUR/USD climbed overnight, albeit gently, making a low at 1.3752 before climbing to where it is presently trading at 1.3776, the high so far today.
EUR/USD eyes on the ZEW
Despite starting with a distinctly British flavour, this mornings Economic calendar soon comes to focus on Eurozone CPI, and the Eurozone and German ZEW readings at 10:00 GMT. Matt Bacon-Hall of FXBeat, comments that a median reading of 55 is forecast for the later event. Order wise he notes that there are stops above 1.3810, and some selling interest around 1.3830, which was a previous high from October 25th. Looking further into the trading day, the key US event is US CPI also falls at 13:30 GMT.
What are today`s key EUR/USD levels and patterns?
Hourly RSI sits at 60, sloping higher, with ADX at 12. The hourly 200 SMA sits at 1.3720, sloping higher alongside the daily 20 EMA. Today`s central pivot point sits at 1.3763, with support below at 1.3727 (S1), 1.3691 (S2) and 1.3655 (S3), and resistance above at 1.3799 (R1), 1.3835 (R2) and 1.3871 (R3). The range between 1.3779-3813 could provide technical resistance, with several technical levels clustered there. Matt Bacon-Hall of FXBeat sees upcoming resistance at 1.3800 where buy stops commence and 1.3820-30 where Leveraged accounts are on the offer. He adds that 1.3832 is the October 25th high, and the key point of an ABC Correction. To the downside, he sees immediate support at 1.3750 with light intraday bids, and 1.3710-00 Corporate bids. Meanwhile, a daily Piercing Line Candlestick pattern can also be observed.
EUR/USD eyes on the ZEW
Despite starting with a distinctly British flavour, this mornings Economic calendar soon comes to focus on Eurozone CPI, and the Eurozone and German ZEW readings at 10:00 GMT. Matt Bacon-Hall of FXBeat, comments that a median reading of 55 is forecast for the later event. Order wise he notes that there are stops above 1.3810, and some selling interest around 1.3830, which was a previous high from October 25th. Looking further into the trading day, the key US event is US CPI also falls at 13:30 GMT.
What are today`s key EUR/USD levels and patterns?
Hourly RSI sits at 60, sloping higher, with ADX at 12. The hourly 200 SMA sits at 1.3720, sloping higher alongside the daily 20 EMA. Today`s central pivot point sits at 1.3763, with support below at 1.3727 (S1), 1.3691 (S2) and 1.3655 (S3), and resistance above at 1.3799 (R1), 1.3835 (R2) and 1.3871 (R3). The range between 1.3779-3813 could provide technical resistance, with several technical levels clustered there. Matt Bacon-Hall of FXBeat sees upcoming resistance at 1.3800 where buy stops commence and 1.3820-30 where Leveraged accounts are on the offer. He adds that 1.3832 is the October 25th high, and the key point of an ABC Correction. To the downside, he sees immediate support at 1.3750 with light intraday bids, and 1.3710-00 Corporate bids. Meanwhile, a daily Piercing Line Candlestick pattern can also be observed.