13/11/14 EUR/USD trades sideways as higher lows remain resisted at 1.2500


dollar, Draghi, ECB, EUR/USD, EUR/USD Forecast, EURO, European Central Bank, EURUSD analysis, EURUSD outlook, EURUSD technical analysis, Mario Draghi, ABS,TLTROs, asset backed securities, broad based asset purchases, U.S Dollar, USD, EUR/USD outlook, EURUSD forecast, EUR/USD technical analysis, EUR/USD analysis, EUR/USD projections, EURUSD projections, EURO A bearish day for the Euro as the week’s resistance at 1.2500 continues to unsettle traders against the dollar and no distinct direction is set at the moment.

dollar, Draghi, ECB, EUR/USD, EUR/USD Forecast, EURO, European Central Bank, EURUSD analysis, EURUSD outlook, EURUSD technical analysis, Mario Draghi, ABS,TLTROs, asset backed securities, broad based asset purchases, U.S Dollar, USD, EUR/USD outlook, EURUSD forecast, EUR/USD technical analysis, EUR/USD analysis, EUR/USD projections, EURUSD projections, EURO Lower highs have formed but still remain sideways at the 161.8% of the Fibonacci downtrend expansion level alongside the 20 SMA which has changed its angle to more of a flat range

dollar, Draghi, ECB, EUR/USD, EUR/USD Forecast, EURO, European Central Bank, EURUSD analysis, EURUSD outlook, EURUSD technical analysis, Mario Draghi, ABS,TLTROs, asset backed securities, broad based asset purchases, U.S Dollar, USD, EUR/USD outlook, EURUSD forecast, EUR/USD technical analysis, EUR/USD analysis, EUR/USD projections, EURUSD projections, EURO The failure of a clear break below the 20SMA and 104EMA shows support at the hourly Fibonacci expansion 127.2%, and we can see the higher lows forming. The Traditional MACD starts to move into the bearish territory as mixed signals continue

The market awaits the French and German Final CPI month on month changes later today as the Euro trades sideways below the psychological 1.2500 level. The ECB monthly bulletin is also likely to have a significant impact on the EUR/USD as it patiently awaits a direction to move in. The higher lows on the Hourly charts show support at the key Fibonacci levels moving higher and could lead to a break upwards once the 200EMA and 1.2500 levels are breached in succession, but CPI estimates are neutral to mildly positive at best and could not be determined at time of writing.

A weaker data would likely cause traders to turn bearish and use the moving averages as resistance and press the pair further down past 1.2400, 1.237 to 1.233 levels en route to 1.2200 levels, the lows of July 2012

Trend Direction
S3
S2
S1
R1
R2
R3
Entry
Stop Loss
Exit
 Slight Bullish1.22001.2331.2371.25001.25171.257

    Share Your Opinion, Write a Comment