16 Jul 2013
EUR/USD in highs above 1.3100
FXstreet.com (Edinburgh) -The EUR/USD finally managed to climb beyond 1.3100 the figure on Tuesday, printing fresh session highs at the same time in the area of 1.3120/25.
EUR/USD propelled by risk appetite
The increasing risk appetite is behind the bull run in the pair, as market participants gradually shift their focus to the US docket, where consumer prices and industrial production will be in centre stage. “For now, the EURUSD will stay confined with triangle for the coming weeks until some strong negative (unlikely positive) news pushes it outside its range. This is why we would recommend attempting another short entry on the EURUSD at the wedge limit around 1.3350”, recommended Dzhafer Medzhakhed, Strategist at Chifbaw LLC.
EUR/USD levels to watch
As of writing the pair is up 0.44% at 1.3121 facing the next hurdle at 1.3208 (high Jul.11) ahead of 1.3255 (high Jun.21). On the downside, a dip beyond 1.3051 (low Jul.16) would open the door to 1.2992 (low Jul.15) and then 1.2982 (50% of 1.2755-1.3208).
EUR/USD propelled by risk appetite
The increasing risk appetite is behind the bull run in the pair, as market participants gradually shift their focus to the US docket, where consumer prices and industrial production will be in centre stage. “For now, the EURUSD will stay confined with triangle for the coming weeks until some strong negative (unlikely positive) news pushes it outside its range. This is why we would recommend attempting another short entry on the EURUSD at the wedge limit around 1.3350”, recommended Dzhafer Medzhakhed, Strategist at Chifbaw LLC.
EUR/USD levels to watch
As of writing the pair is up 0.44% at 1.3121 facing the next hurdle at 1.3208 (high Jul.11) ahead of 1.3255 (high Jun.21). On the downside, a dip beyond 1.3051 (low Jul.16) would open the door to 1.2992 (low Jul.15) and then 1.2982 (50% of 1.2755-1.3208).