Back
12 Dec 2013
EUR/USD finishes for a second straight day just below 1.3791 Fibo target. Pullback to 1.3693 next?
FXstreet.com (Barcelona) - The EUR/USD could fall down to 1.3693 and still be in a very bullish technical posture according to technicians. Will the heavy data flow Thursday inspire the corrective action?
EUR/USD traders to monitor major flow of European and US data Thursday
EUR/USD traders will be closely monitoring the following data points out of Europe and the US Thursday:
• Mario Draghi speech
• EuroZone Industrial Production
• ECB Monthly Report on the EuroZone Economy
• US weekly Jobless Claims
• US Import / Export Prices
• US Retail Sales
• US Business Inventories
Technical outlook for EURUSD
Technicians say the EUR/USD hit its next short-term target at 1.3791 and has shown signs of a pause there before it should continue on up to the next resistance at 1.3803 – the 10/25 close. The short-term support for the cross comes in at Monday’s low of 1.3693 and will be followed up by Friday’s low of 1.3619.
EUR/USD traders to monitor major flow of European and US data Thursday
EUR/USD traders will be closely monitoring the following data points out of Europe and the US Thursday:
• Mario Draghi speech
• EuroZone Industrial Production
• ECB Monthly Report on the EuroZone Economy
• US weekly Jobless Claims
• US Import / Export Prices
• US Retail Sales
• US Business Inventories
Technical outlook for EURUSD
Technicians say the EUR/USD hit its next short-term target at 1.3791 and has shown signs of a pause there before it should continue on up to the next resistance at 1.3803 – the 10/25 close. The short-term support for the cross comes in at Monday’s low of 1.3693 and will be followed up by Friday’s low of 1.3619.