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17 Jun 2013
EUR/USD grinds lower off highs
FXstreet.com (New York) - The EUR/USD foreign exchange rate has inched lower during European trading Monday, waning off earlier highs (1.3358).
EUR/USD capped at 200-week MA?
According to Karen Jones, an analyst at Commerzbank, “The EUR/USD last week continued to grind higher and came close to the mid-January high at 1.3404. However, directly overhead lies 1.3440/52 (the 200-week MA and the 2011-2013 resistance line). This is a key resistance and we look for this level to hold and provoke failure.”
At the time of writing, the EUR/USD is slightly entrenched in negative territory Monday, negotiating prices of 1.3336, down -0.10% on the day thus far. The Mataf.net analyst team points to the next supportive measures for the pair at 1.3296, ahead of 1.3258, and eventually 1.3221.
EUR/USD bullish wave targets 1.3505
“The EUR/USD has been trading to the upside since last week, as we see it stable above 1.3225 levels keeping the overall positivity. Moreover, linear regression indicators are positive supporting the expected bullish move during this week, as long as the pair remains stable above 1.3225. The suggested target of the current bullish wave resides at 1.3505 followed by 1.3600.” notes the ICN.com Technical Analyst Team.
EUR/USD capped at 200-week MA?
According to Karen Jones, an analyst at Commerzbank, “The EUR/USD last week continued to grind higher and came close to the mid-January high at 1.3404. However, directly overhead lies 1.3440/52 (the 200-week MA and the 2011-2013 resistance line). This is a key resistance and we look for this level to hold and provoke failure.”
At the time of writing, the EUR/USD is slightly entrenched in negative territory Monday, negotiating prices of 1.3336, down -0.10% on the day thus far. The Mataf.net analyst team points to the next supportive measures for the pair at 1.3296, ahead of 1.3258, and eventually 1.3221.
EUR/USD bullish wave targets 1.3505
“The EUR/USD has been trading to the upside since last week, as we see it stable above 1.3225 levels keeping the overall positivity. Moreover, linear regression indicators are positive supporting the expected bullish move during this week, as long as the pair remains stable above 1.3225. The suggested target of the current bullish wave resides at 1.3505 followed by 1.3600.” notes the ICN.com Technical Analyst Team.