5 Dec 2013
EUR/USD declines off morning spike
FXstreet.com (Barcelona) - Having spiked to a morning high of 1.3640 on stops being triggered, EUR/USD has declined to where it is presently trading at 1.3609, up 0.16% on the day.
EUR/USD edges back off stop driven spike
Having spiked this morning driven, by stops being triggered, EUR/USD has edged back lower. Calendar wise, French Unemployment has edged higher, and Spanish Industrial Output declined sharply, but the main events of the day remain the ECB interest rate decision at 12:45 GMT, which is expected to remain at 0.25%, and the subsequent policy statement and press conference at 13:30 GMT. Gerry Davies of FXBeat is not expecting any great movement before the Central Bank meet, commenting, “Is the market really going to push the envelope before its gets the ECB rate decision and hears what Super Mario has to say? Anything's possible, but I'd be a little surprised if it did.”
What are today’s key EUR/USD levels?
Hourly RSI sits at 56, while stochastics have just dipped out of overbought territory at 78. The hourly 200 SMA is bullish at 1.3572, while the daily 20 EMA is neutral at 1.3546. Today’s central pivot point can be found at 1.3573, with support below at .3540 (S1), 1.3494 (S2) and 1.3461 (S3) and resistance above at 1.3619 (R1), 1.3652 (R2) and 1.3698 (R3). Special Attention should be paid to the range between 1.3631-3597 where numerous technical levels are confluent today.
EUR/USD edges back off stop driven spike
Having spiked this morning driven, by stops being triggered, EUR/USD has edged back lower. Calendar wise, French Unemployment has edged higher, and Spanish Industrial Output declined sharply, but the main events of the day remain the ECB interest rate decision at 12:45 GMT, which is expected to remain at 0.25%, and the subsequent policy statement and press conference at 13:30 GMT. Gerry Davies of FXBeat is not expecting any great movement before the Central Bank meet, commenting, “Is the market really going to push the envelope before its gets the ECB rate decision and hears what Super Mario has to say? Anything's possible, but I'd be a little surprised if it did.”
What are today’s key EUR/USD levels?
Hourly RSI sits at 56, while stochastics have just dipped out of overbought territory at 78. The hourly 200 SMA is bullish at 1.3572, while the daily 20 EMA is neutral at 1.3546. Today’s central pivot point can be found at 1.3573, with support below at .3540 (S1), 1.3494 (S2) and 1.3461 (S3) and resistance above at 1.3619 (R1), 1.3652 (R2) and 1.3698 (R3). Special Attention should be paid to the range between 1.3631-3597 where numerous technical levels are confluent today.