7 Aug 2013
EUR/USD, is the rally slowing down?
FXstreet.com (Chicago) - EUR/USD retraced from 1.3340 zone after strong rally.
Price action indicated 0.23% gains as the euro continued strengthening against the greenback. Before the ECB publishes its monthly report on detailed analysis of economic state of affairs due tomorrow, market participants seemed to favor the euro. The markets closed with the CAC40 up 0.15%, the DAX down 0.47% and the Euronext down 0.04%.
The ICN technical analysis team reported a general sideways trend for short-term timeframe “targeting 1.2775 as far as 1.3600 is daily-closing.” Trading at 1.3337, the pair navigated between supports at 1.3322 (August 6th highs), 1.3313 (June 15th lows), 1.3299 (July 26th highs) and resistances at 1.3341 (June 19th lows), 1.3355 (June 12th highs), 1.3370 (June 14th highs). The FXstreet trend index reported the pair as slightly bullish on one-hour timeframe analysis.
Price action indicated 0.23% gains as the euro continued strengthening against the greenback. Before the ECB publishes its monthly report on detailed analysis of economic state of affairs due tomorrow, market participants seemed to favor the euro. The markets closed with the CAC40 up 0.15%, the DAX down 0.47% and the Euronext down 0.04%.
The ICN technical analysis team reported a general sideways trend for short-term timeframe “targeting 1.2775 as far as 1.3600 is daily-closing.” Trading at 1.3337, the pair navigated between supports at 1.3322 (August 6th highs), 1.3313 (June 15th lows), 1.3299 (July 26th highs) and resistances at 1.3341 (June 19th lows), 1.3355 (June 12th highs), 1.3370 (June 14th highs). The FXstreet trend index reported the pair as slightly bullish on one-hour timeframe analysis.