22 Jul 2013
EUR/USD still capped below 1.3150
FXstreet.com (Barcelona) - The EUR/USD foreign exchange rate starts the week in the Asia-Pacific trading last at 1.3135 bids, little changed from previous weekly close Friday, with problems in Portugal having a better look.
EUR/USD may form a new ascending trend
According to analyst Igor Sayadov at RoboForex, “Waves (D) of [B] and (E) of [B] of horizontal triangle [B] may take more complicated form, for example, some extended pattern. However, if our assumption that Euro completed a correction [B] is confirmed, the price is expected to form a new mid-term ascending trend inside wave [C].”
EUR/USD key technical levels
Immediate resistance to the upside for EUR/USD shows at Friday's highs 1.3156, followed by Tuesday/Wednesday's highs at 1.3174/80, and June 07 lows at 1.3189. To the downside, closest support lies at July 11 NY session highs 1.3124, followed by Wednesday's lows at 1.3081, and Thursday's lows at 1.3064.
EUR/USD may form a new ascending trend
According to analyst Igor Sayadov at RoboForex, “Waves (D) of [B] and (E) of [B] of horizontal triangle [B] may take more complicated form, for example, some extended pattern. However, if our assumption that Euro completed a correction [B] is confirmed, the price is expected to form a new mid-term ascending trend inside wave [C].”
EUR/USD key technical levels
Immediate resistance to the upside for EUR/USD shows at Friday's highs 1.3156, followed by Tuesday/Wednesday's highs at 1.3174/80, and June 07 lows at 1.3189. To the downside, closest support lies at July 11 NY session highs 1.3124, followed by Wednesday's lows at 1.3081, and Thursday's lows at 1.3064.