30 Dec 2013
EUR/USD still just below the flat line for the session and hovering above 1.3733 support
FXstreet.com (Barcelona) - The EUR/USD is doing its best to hold up above short-term support at 1.3733. Technicians say that if it does, a run back up to 1.3806 to 1.3873 is likely in the cards.
EUR/USD traders patiently waiting for US session for data guidance
EUR/USD traders will have to rely on technicals for the most part on Monday until US data is released later in the session. The data scheduled for release include Pending Homes Sales and the Dallas Fed Manufacturing Index.
Technical outlook for EURUSD
Technicians say the EUR/USD may have completed a very short-term “abc” correction to the downside on Friday when it seemingly held support at 1.3733. If that level breaks, more downside will be in store for the EUR/USD – with 1.3705 and 1.3687 as the next two possible stops on the downside. Resistance for the cross starts at the Friday intraday pivot of 1.3765 and is backed up by another intraday pivot from Friday at 1.3806.
EUR/USD traders patiently waiting for US session for data guidance
EUR/USD traders will have to rely on technicals for the most part on Monday until US data is released later in the session. The data scheduled for release include Pending Homes Sales and the Dallas Fed Manufacturing Index.
Technical outlook for EURUSD
Technicians say the EUR/USD may have completed a very short-term “abc” correction to the downside on Friday when it seemingly held support at 1.3733. If that level breaks, more downside will be in store for the EUR/USD – with 1.3705 and 1.3687 as the next two possible stops on the downside. Resistance for the cross starts at the Friday intraday pivot of 1.3765 and is backed up by another intraday pivot from Friday at 1.3806.