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17 Apr 2014
EUR/USD has frozen at 1.3837
FXStreet (Moscow) - EUR/USD took off from the intraday lows of 1.3812 and climbed to its current level of 1.3837
EUR bulls are too sleepy
EUR/USD bullish dynamics have resumed after a short period of consolidation at the support area of 1.3800. Revised inflation in March was not bad enough to shatter the EUR bulls moral as the single currency started this Holy Thursday with a nice upside movement. Though it is dollar weakness, not euro strength that is at the root of the EUR/USD rise as rather dovish Yellen’s comments put USD under pressure across the board. On the intraday basis watch out for strong offers on approach to 1.3860 as they are likely to cap the upside. On the downside, the bespoke support is still at 1.3814/00
What price levels and patterns have to be considered?
Current price is 1.3839, with resistance ahead at 1.3843 (Daily High), 1.3845 (Daily Classic R1), 1.3852 (Yesterday's High), 1.3873 (Daily Classic R2) and 1.3886 (Weekly High).
To the downside we see next support at 1.3839 (Hourly 100 SMA), 1.3829 (Weekly Classic PP), 1.3825 (Hourly 20 EMA), 1.3823 (Daily Classic PP) and 1.3815 (Daily Open).
EUR bulls are too sleepy
EUR/USD bullish dynamics have resumed after a short period of consolidation at the support area of 1.3800. Revised inflation in March was not bad enough to shatter the EUR bulls moral as the single currency started this Holy Thursday with a nice upside movement. Though it is dollar weakness, not euro strength that is at the root of the EUR/USD rise as rather dovish Yellen’s comments put USD under pressure across the board. On the intraday basis watch out for strong offers on approach to 1.3860 as they are likely to cap the upside. On the downside, the bespoke support is still at 1.3814/00
What price levels and patterns have to be considered?
Current price is 1.3839, with resistance ahead at 1.3843 (Daily High), 1.3845 (Daily Classic R1), 1.3852 (Yesterday's High), 1.3873 (Daily Classic R2) and 1.3886 (Weekly High).
To the downside we see next support at 1.3839 (Hourly 100 SMA), 1.3829 (Weekly Classic PP), 1.3825 (Hourly 20 EMA), 1.3823 (Daily Classic PP) and 1.3815 (Daily Open).