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21 Apr 2014
EUR/USD takes another day off, sitting above 1.3800
FXStreet (Moscow) - EUR/USD is sandwiched between 1.3809 support and 1.3818 resistance as lots of traders are still absent from their desks.
No news, no moves
EUR/USD has been sitting in the narrow range most part of the previous week as investors were scared by Draghi’s verbal interventions. This week is rather quiet in terms of European macro economic statistics, but Flash PMI numbers will attract attention as they are considered good growth indicators. Also don’t miss German IFO indicators and Draghi's speech in Amsterdam scheduled on Thursday, as the head of the central bank may provide further clues on ECB intentions. On the intraday basis we expect light trading as many markets are still closed. The strong resistance is seen at 1.3815/20 as there are several important technical levels clustered there. The support is seen at 1.3809/00 with demand on approach.
What price levels and patterns have to be considered?
With spot trading at 1.3810, we can see next resistance ahead at 1.3813 (Daily Classic PP), 1.3814 (Daily Open), 1.3816 (Hourly 20 EMA), 1.3818 (Daily High) and 1.3819 (Daily Classic R1).
Support below can be found at 1.3809 (Weekly Low), 1.3808 (Yesterday's Low), 1.3808 (Daily 20 SMA), 1.3805 (Daily Low) and 1.3804 (Daily Classic S1).
No news, no moves
EUR/USD has been sitting in the narrow range most part of the previous week as investors were scared by Draghi’s verbal interventions. This week is rather quiet in terms of European macro economic statistics, but Flash PMI numbers will attract attention as they are considered good growth indicators. Also don’t miss German IFO indicators and Draghi's speech in Amsterdam scheduled on Thursday, as the head of the central bank may provide further clues on ECB intentions. On the intraday basis we expect light trading as many markets are still closed. The strong resistance is seen at 1.3815/20 as there are several important technical levels clustered there. The support is seen at 1.3809/00 with demand on approach.
What price levels and patterns have to be considered?
With spot trading at 1.3810, we can see next resistance ahead at 1.3813 (Daily Classic PP), 1.3814 (Daily Open), 1.3816 (Hourly 20 EMA), 1.3818 (Daily High) and 1.3819 (Daily Classic R1).
Support below can be found at 1.3809 (Weekly Low), 1.3808 (Yesterday's Low), 1.3808 (Daily 20 SMA), 1.3805 (Daily Low) and 1.3804 (Daily Classic S1).