Back
14 Aug 2013
EUR/USD, left hanging?
FXstreet.com (Chicago) - EUR/USD is down 0.05% for the day amid speculations and no clear answers.
Price action indicates choppy trading continues amid speculations on Fed’s decision. If market participants were expecting clear answers to the stimulus package, there were no clear answers today as evidence by St. Louis Federal Reserve President James Bullard: “The committee still needs to see more data on the macroeconomic performance for the second half of 2013 before making a judgment on this matter”.
At a1.3259, the pair approaches immediate resistance at 1.3261 (June 18th lows) followed by 1.3271 (August 2nd highs) and 1.3286 (July 26th highs). On the downside, supports are aligned at 1.3251 (July 24th highs), 1.3239 (July 28th lows) ahead of 1.3226 (August 1st highs). The FXstreet.com trend index reports the pair as slightly bullish on one-hour time frame analysis prior to the closing of US stock markets with the Dow down 0.70%, the Nasdaq printing losses at 0.40% and the S&P in red at -0.48%.
Price action indicates choppy trading continues amid speculations on Fed’s decision. If market participants were expecting clear answers to the stimulus package, there were no clear answers today as evidence by St. Louis Federal Reserve President James Bullard: “The committee still needs to see more data on the macroeconomic performance for the second half of 2013 before making a judgment on this matter”.
At a1.3259, the pair approaches immediate resistance at 1.3261 (June 18th lows) followed by 1.3271 (August 2nd highs) and 1.3286 (July 26th highs). On the downside, supports are aligned at 1.3251 (July 24th highs), 1.3239 (July 28th lows) ahead of 1.3226 (August 1st highs). The FXstreet.com trend index reports the pair as slightly bullish on one-hour time frame analysis prior to the closing of US stock markets with the Dow down 0.70%, the Nasdaq printing losses at 0.40% and the S&P in red at -0.48%.