23 Jan 2014
EUR/USD consolidating above 1.3600
FXstreet.com (Edinburgh) - The shared currency is now attempting to consolidate today’s upside beyond 1.3600 the figure, taking the EUR/USD to the 1.3630/35 region.
EUR/USD now looks to the Consumer Confidence
Traders would now look to the advanced Consumer Prices in he euro area to be published in the European afternoon, with market consensus expecting a small improvement to -13.0 during January from December’s -13.6. Matt Simpson, Senior Analyst at ThinkForex, commented, “I am fully open to the possibility of returning to 1.365 levels and retesting the broken trendline. If we begin to produce reversal signals beneath 1.3650 then my bearish bias will gain extra confidence. If however we break up through this level then we could well be back within bullish territory”.
EUR/USD significant levels
As of writing the pair is advancing 0.63% at 1.3634 and a surpass of 1.3650 (high Jan.16) would target 1.3668 (daily cloud top) en route to 1.3679 (high Jan.15). On the downside, the immediate support aligns at 1.3530 (low Jan.23) followed by 1.3517 (low Jan.21) and finally 1.3508 (2014 low Jan.20).
EUR/USD now looks to the Consumer Confidence
Traders would now look to the advanced Consumer Prices in he euro area to be published in the European afternoon, with market consensus expecting a small improvement to -13.0 during January from December’s -13.6. Matt Simpson, Senior Analyst at ThinkForex, commented, “I am fully open to the possibility of returning to 1.365 levels and retesting the broken trendline. If we begin to produce reversal signals beneath 1.3650 then my bearish bias will gain extra confidence. If however we break up through this level then we could well be back within bullish territory”.
EUR/USD significant levels
As of writing the pair is advancing 0.63% at 1.3634 and a surpass of 1.3650 (high Jan.16) would target 1.3668 (daily cloud top) en route to 1.3679 (high Jan.15). On the downside, the immediate support aligns at 1.3530 (low Jan.23) followed by 1.3517 (low Jan.21) and finally 1.3508 (2014 low Jan.20).