14 Oct 2013
EUR/USD opens higher Sunday night as doubt creeps back in regarding US government
FXstreet.com (Barcelona) - The EUR/USD, which saw some downside pressure temporarily last week, opened the new week on the upside as hopes for a resolution in Washington saw some doubt creep back in over the weekend.
EuroZone data will accompany US politics in traders’ lenses Monday
EUR/USD traders will obviously continue to react to the continuous news flow out of Washington D.C. for the entirety of this week. Over the weekend, there may have actually been a step or two taken in the wrong direction according to several politicians during their appearances on the weekly network talk shows on Sunday. However, those same politicians coupled that bad news with optimism regarding the prospects of reaching an agreement on the debt ceiling and government shutdown by the October 17th deadline.
Monday will bring EUR/USD traders EuroZone Industrial Production data to digest at 09:00 GMT.
Technical outlook for EUR/USD
Technicians say the EURUSD may have bottomed last Thursday at 1.3489. The upside move off of that low already saw a short-term pullback and appears set to be followed up by more upside. Support for the cross comes in at Friday’s close of 1.3537. The first two resistance levels for EUR/USD come in at 1.3580 and 1.3600.
EuroZone data will accompany US politics in traders’ lenses Monday
EUR/USD traders will obviously continue to react to the continuous news flow out of Washington D.C. for the entirety of this week. Over the weekend, there may have actually been a step or two taken in the wrong direction according to several politicians during their appearances on the weekly network talk shows on Sunday. However, those same politicians coupled that bad news with optimism regarding the prospects of reaching an agreement on the debt ceiling and government shutdown by the October 17th deadline.
Monday will bring EUR/USD traders EuroZone Industrial Production data to digest at 09:00 GMT.
Technical outlook for EUR/USD
Technicians say the EURUSD may have bottomed last Thursday at 1.3489. The upside move off of that low already saw a short-term pullback and appears set to be followed up by more upside. Support for the cross comes in at Friday’s close of 1.3537. The first two resistance levels for EUR/USD come in at 1.3580 and 1.3600.