29 Nov 2013
EUR/USD keeps holding above daily kijun, slow progress above 1.36
FXstreet.com (Barcelona) - EUR/USD has been slowly but steady drifting higher this week, with stronger buying interest on dips since the break and close above the daily Kijun line at 1.3560 on Tueday, leading to rises capped by 1.3620 thus far.
EU data ahead
While the US markets will remain closed due to thanksgiving festivities, traders should keep an eye in some important economic releases out of Europe, including German retail sales, EU CPI numbers and unemployment numbers.
EUR/USD technicals
Technically, as Jim Langlands, Founder at FXCharts, notes: "If we get above there after the EU data later today, the points to watch will be at 1.3627 (61.8% of 1.3832/1.3294) and then the descending trend resistance at around 1.3640. Above that there is further minor resistance at around 1.3650, beyond which could see acceleration towards 1.3710 (76.4%)."
On the downside, Langlands, sees 1.3560 as again providing the initial support. "A break would see 1.3535 (38% of 1.3398/1.3618) and below that would see a run back to 1.3510, 1.3485 (61.8%) and 1.3460 (rising trend support)" Jim said.
EU data ahead
While the US markets will remain closed due to thanksgiving festivities, traders should keep an eye in some important economic releases out of Europe, including German retail sales, EU CPI numbers and unemployment numbers.
EUR/USD technicals
Technically, as Jim Langlands, Founder at FXCharts, notes: "If we get above there after the EU data later today, the points to watch will be at 1.3627 (61.8% of 1.3832/1.3294) and then the descending trend resistance at around 1.3640. Above that there is further minor resistance at around 1.3650, beyond which could see acceleration towards 1.3710 (76.4%)."
On the downside, Langlands, sees 1.3560 as again providing the initial support. "A break would see 1.3535 (38% of 1.3398/1.3618) and below that would see a run back to 1.3510, 1.3485 (61.8%) and 1.3460 (rising trend support)" Jim said.