26 May 2014
EUR/USD claiming its base at start of week
FXStreet (Guatemala) - EUR/USD is trading at 1.3619, down -0.07% on the day, having posted a daily high at 1.3643 and low at 1.3615 and is marking its base for the start of the week here.
It’s a slow to start to the week and the pair is unchanged. The US will be out on Memorial Day holiday and Europe has little to offer in relations to the calendar apart from Gfk Consumer Confidence for Germany expected to remain unchanged at 8.5. Meanwhile, Sean Callow, analyst at Westpac Banking Corporation ABN noted that the US dollar index again diverged from US interest rates, rising to a six week high. “A sub-consensus reading on the German IFO business survey knocked EUR/USD from 1.3650 to 1.3616 – a three month low. It opens this morning around 1.3620, weighed down by emerging results from the European elections showing a surge in anti-immigration, anti-EU parties in several countries, most notably France and the UK. Ukraine’s presidential election saw a comfortable win for pro-Europe businessman Petro Poroshenko, though there was no voting in rebel-controlled eastern cities”.
EUR/USD Levels
Spot is presently trading at 1.3620, and next resistance can be seen at 1.3623 (Daily Open), 1.3630 (Monthly Low), 1.3630 (Weekly Low), 1.3634 (Hourly 20 EMA) and 1.3635 (Daily Classic PP). Support below can be found at 1.3616 (Yesterday's Low), 1.3615 (Daily Low), 1.3610 (Daily Classic S1), 1.3590 (Daily Classic S2) and 1.3585 (Weekly Classic S1).
EUR/USD Levels
Regarding candlestick formations, we can see Dark Cloud Cover formation on the 1-hour.
It’s a slow to start to the week and the pair is unchanged. The US will be out on Memorial Day holiday and Europe has little to offer in relations to the calendar apart from Gfk Consumer Confidence for Germany expected to remain unchanged at 8.5. Meanwhile, Sean Callow, analyst at Westpac Banking Corporation ABN noted that the US dollar index again diverged from US interest rates, rising to a six week high. “A sub-consensus reading on the German IFO business survey knocked EUR/USD from 1.3650 to 1.3616 – a three month low. It opens this morning around 1.3620, weighed down by emerging results from the European elections showing a surge in anti-immigration, anti-EU parties in several countries, most notably France and the UK. Ukraine’s presidential election saw a comfortable win for pro-Europe businessman Petro Poroshenko, though there was no voting in rebel-controlled eastern cities”.
EUR/USD Levels
Spot is presently trading at 1.3620, and next resistance can be seen at 1.3623 (Daily Open), 1.3630 (Monthly Low), 1.3630 (Weekly Low), 1.3634 (Hourly 20 EMA) and 1.3635 (Daily Classic PP). Support below can be found at 1.3616 (Yesterday's Low), 1.3615 (Daily Low), 1.3610 (Daily Classic S1), 1.3590 (Daily Classic S2) and 1.3585 (Weekly Classic S1).
EUR/USD Levels
Regarding candlestick formations, we can see Dark Cloud Cover formation on the 1-hour.