27 Jun 2013
EUR/USD tumbles after US home sales
FXstreet.com (New York) - The EUR/USD technical pair tumbled lower during US trading, receiving an impetus in the form a second round of US data that broke the pair out of a sideways consolidation.
In light of the recent advance, the EUR/USD foreign exchange rate is now operating at 1.3012 Thursday, securing a marginal advance of +0.01% at the time of writing. Consistent with the calculations of the Mataf.net analyst team, pair will face resistances at 1.3079 then 1.3134, and eventually 1.3181.
EUR/USD 1.3200 could instigate failure towards 1.3000 barrier
According to the Dukascopy Bank Team, “The EUR/USD seemed to consolidate above Fib 38.2% (February to April, 2013), which is around 20 pips above the mentioned 200-day SMA. As suggested by the short-term technicals it seems that pair is likely to advance further. In such case 1.3200 might become the level which will fail the pair and should send it towards 1.3000 where expectations of major market participants are consolidated.”
EUR/USD rising on US data
In the United States, Pending Home Sales (YoY) came in at +12.1% in May, compared to a result of +10.3% previously. In addition, Pending Home Sales (MoM) were reported at +6.7% in May, beating. projections calling for +1.0%, and compared with a figure of +0.3% previously.
In light of the recent advance, the EUR/USD foreign exchange rate is now operating at 1.3012 Thursday, securing a marginal advance of +0.01% at the time of writing. Consistent with the calculations of the Mataf.net analyst team, pair will face resistances at 1.3079 then 1.3134, and eventually 1.3181.
EUR/USD 1.3200 could instigate failure towards 1.3000 barrier
According to the Dukascopy Bank Team, “The EUR/USD seemed to consolidate above Fib 38.2% (February to April, 2013), which is around 20 pips above the mentioned 200-day SMA. As suggested by the short-term technicals it seems that pair is likely to advance further. In such case 1.3200 might become the level which will fail the pair and should send it towards 1.3000 where expectations of major market participants are consolidated.”
EUR/USD rising on US data
In the United States, Pending Home Sales (YoY) came in at +12.1% in May, compared to a result of +10.3% previously. In addition, Pending Home Sales (MoM) were reported at +6.7% in May, beating. projections calling for +1.0%, and compared with a figure of +0.3% previously.