14 Jan 2014
EUR/USD set up for a break out?
FXstreet.com (Guatemala) - EUR/USD is testing the downside of the ascending channel on the 5-minute charts.
EUR/USD has been hitting both sides of the channel is shaping up for what might be a break on the wedge formation forming on the session. The main theme of course remains with the recent and dismal Non Farm Payrolls that overshadows much of the good data that came to day in the form of Retail Sales from the US earlier on. US Retail Sales for December printed 0.2% vs 0.1% sending the dollar on a more positive trend across the G10’s.
EUR/USD Level’s
The 20 DMA is 1.3680, the 50 DMA is 1.3609 and the 200 DMA is 1.3335. RSI (14) reads 51.66. Supports are ascending from 1.3560, 1.3601,1.3620 and 1.3634. Spot is 1.3672 while resistances are 1.3688, 1.3721, 1.3743 and 1.3778.
EUR/USD has been hitting both sides of the channel is shaping up for what might be a break on the wedge formation forming on the session. The main theme of course remains with the recent and dismal Non Farm Payrolls that overshadows much of the good data that came to day in the form of Retail Sales from the US earlier on. US Retail Sales for December printed 0.2% vs 0.1% sending the dollar on a more positive trend across the G10’s.
EUR/USD Level’s
The 20 DMA is 1.3680, the 50 DMA is 1.3609 and the 200 DMA is 1.3335. RSI (14) reads 51.66. Supports are ascending from 1.3560, 1.3601,1.3620 and 1.3634. Spot is 1.3672 while resistances are 1.3688, 1.3721, 1.3743 and 1.3778.