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28 Aug 2013
EUR/USD climbs steadily yet remains in the negative
FXstreet.com (Chicago) - EUR/USD accumulates 0.37% daily losses at the closing of the American trading session. Green results indicate market participants may be less concerned about the Syrian conflict as revealed by price action and daily gains.
Stronger USD
Earlier in the US, pending home sales (MoM) for July were -1.3% vs. previous -0.4% and estimates at 0.2%. Yearly results were at 6.7% vs. past 10.9%. In Europe, the M3 Money Supply growth was 2.2% vs. estimates at 2.0% and past results at 2.4%. The decline of oil prices and weakening of the yen throughout the day indicated a diminution of market participants concerns on the Syrian conflict as no retaliation has taken place yet. In Wall Street, the Dow closed up 0.33%, the Nasdaq advanced 0.41% and the S&P 500 gained 0.27%. In Europe, the CAC40 accumulated 0.21% losses along the FTSE100 down 0.17%. The DAX was also in the negatives with 1.03% losses as well as the Euronext 100 down 0.20%.
EUR/USD Technical Levels
Trading at 1.3339, the pair navigates between supports aligned at 1.3329 (August 23rd lows), 1.33 (August 22nd lows) ahead of 1.3279 (August 12th lows) and resistances at 1.3362 (August 22nd highs), 1.3389 (August 26th highs) followed by 1.3415 (June 28th highs). According to the FXstreet.com trend index, the pair is strongly bearish on one-hour timeframe analysis and is offered below the EMA20.
Stronger USD
Earlier in the US, pending home sales (MoM) for July were -1.3% vs. previous -0.4% and estimates at 0.2%. Yearly results were at 6.7% vs. past 10.9%. In Europe, the M3 Money Supply growth was 2.2% vs. estimates at 2.0% and past results at 2.4%. The decline of oil prices and weakening of the yen throughout the day indicated a diminution of market participants concerns on the Syrian conflict as no retaliation has taken place yet. In Wall Street, the Dow closed up 0.33%, the Nasdaq advanced 0.41% and the S&P 500 gained 0.27%. In Europe, the CAC40 accumulated 0.21% losses along the FTSE100 down 0.17%. The DAX was also in the negatives with 1.03% losses as well as the Euronext 100 down 0.20%.
EUR/USD Technical Levels
Trading at 1.3339, the pair navigates between supports aligned at 1.3329 (August 23rd lows), 1.33 (August 22nd lows) ahead of 1.3279 (August 12th lows) and resistances at 1.3362 (August 22nd highs), 1.3389 (August 26th highs) followed by 1.3415 (June 28th highs). According to the FXstreet.com trend index, the pair is strongly bearish on one-hour timeframe analysis and is offered below the EMA20.