10 Jun 2013
EUR/USD bulls ahead to 1.3221/24
FXstreet.com (New York) - The EUR/USD technical pair has relinquished its losses off the 1.3177 region (intraday low), operating presently at 1.3221/24 in these moments.
According to Karen Jones, an Analyst at Commerzbank, “The EUR/USD pair rallied last week to the top of the 3-month channel at 1.3292. Directly above here lies the 61.8% retracement at 1.3340 and it is possible that this was an a-b-c’ correction (wave 4) and this move higher is already complete and over. However, we will need a break below the accelerated uptrend at 1.3152 in order to alleviate immediate upside pressure.”
EUR/USD bullish extension valid intraweek
“The EUR/USD failed to consolidate above 1.3230, but is stable above 38.2% correction at 1.3115 – stability above it is positive especially that Linear Regression Indicators tends to be positive. The possibility of extending bullishness is valid this week and the first suggested target resides at 61.8% correction at 1.3345 levels followed by correction 78.6% at 1.3505.”
Following last weeks steadfast rise in the exchange rate, during European trading Monday the EUR/USD has managed to settle again in positive territory, up +0.21% on the day. According to the Mataf.net analyst team, the EUR/USD will face calculated short-term resistances at 1.3274, then 1.3323, and finally 1.3365. Alternatively, support lies below at 1.3183, ahead of 1.3141, and 1.3092.
According to Karen Jones, an Analyst at Commerzbank, “The EUR/USD pair rallied last week to the top of the 3-month channel at 1.3292. Directly above here lies the 61.8% retracement at 1.3340 and it is possible that this was an a-b-c’ correction (wave 4) and this move higher is already complete and over. However, we will need a break below the accelerated uptrend at 1.3152 in order to alleviate immediate upside pressure.”
EUR/USD bullish extension valid intraweek
“The EUR/USD failed to consolidate above 1.3230, but is stable above 38.2% correction at 1.3115 – stability above it is positive especially that Linear Regression Indicators tends to be positive. The possibility of extending bullishness is valid this week and the first suggested target resides at 61.8% correction at 1.3345 levels followed by correction 78.6% at 1.3505.”
Following last weeks steadfast rise in the exchange rate, during European trading Monday the EUR/USD has managed to settle again in positive territory, up +0.21% on the day. According to the Mataf.net analyst team, the EUR/USD will face calculated short-term resistances at 1.3274, then 1.3323, and finally 1.3365. Alternatively, support lies below at 1.3183, ahead of 1.3141, and 1.3092.