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15 Aug 2013
EUR/USD flat-lining around 1.3290
FXstreet.com (Edinburgh) -The dullness surrounding the shared currency continues to prevail on Thursday, driving the EUR/USD around the 1.3290-1.3300 band ahead of the key US docket.
EUR/USD looking to break the congestion
The pair is heading smoothly towards the NA session, where the USD will be in the limelight as key releases are due in the US economy. Jason Sen, Strategist at DayTradeIdeas.com, recommended, “We are oversold short term so a recovery could be on the cards today. Immediate resistance at 1.3345/50 but above here we may reach 1.3400/20. With the daily chart more negative we can exit longs & try shorts in the 1.3400/20 area with stops above 1.3440 as a break higher can then target 1.3505/15”.
EUR/USD levels to watch
As of writing the pair is advancing 0.21% at 1.3283 facing the next hurdle at 1.3311 (high Aug.15) followed by 1.3317 (high Aug.13) and finally 1.334 (high Aug.12). On the flip side, a breakdown of 1.3239 (low Aug.14) would open the door to 1.3233 (low Aug.13) and then 1.3188 (low Aug.2).
EUR/USD looking to break the congestion
The pair is heading smoothly towards the NA session, where the USD will be in the limelight as key releases are due in the US economy. Jason Sen, Strategist at DayTradeIdeas.com, recommended, “We are oversold short term so a recovery could be on the cards today. Immediate resistance at 1.3345/50 but above here we may reach 1.3400/20. With the daily chart more negative we can exit longs & try shorts in the 1.3400/20 area with stops above 1.3440 as a break higher can then target 1.3505/15”.
EUR/USD levels to watch
As of writing the pair is advancing 0.21% at 1.3283 facing the next hurdle at 1.3311 (high Aug.15) followed by 1.3317 (high Aug.13) and finally 1.334 (high Aug.12). On the flip side, a breakdown of 1.3239 (low Aug.14) would open the door to 1.3233 (low Aug.13) and then 1.3188 (low Aug.2).