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13 Aug 2013
EUR/USD consolidates at 1.33; did bears just ruin uptrend?
FXstreet.com (Chicago) - EUR/USD accumulated 0.23% daily losses closing at 1.3293 vs 1.3338 last Friday, with gains unable to be sustained on broad-based USD gains.
FXWW technical analyst, Sean Lee, reports the pair is on sideways range which can potentially increase risk of exposure for traders taking positions as market participants await for Bullard’s speech later this week, speculators are expectant of Fed’s pronunciations on the US economy. In Europe, industrial data is due tomorrow along the Zew survey economic sentiment for July.
Technically speaking, the pair trades between supports at 1.3286 (July 29th highs), 1.3280 (June 19th lows) ahead of 1.3266 (August 6th lows) and resistances at 1.3298 (June 19th highs), 1.3311 (August 1st highs) followed by 1.3325 (August 8th highs). The FXstreet.com trend index reports the pair as slightly bullish on one-hour timeframe analysis as the CCI indicator points up.
FXWW technical analyst, Sean Lee, reports the pair is on sideways range which can potentially increase risk of exposure for traders taking positions as market participants await for Bullard’s speech later this week, speculators are expectant of Fed’s pronunciations on the US economy. In Europe, industrial data is due tomorrow along the Zew survey economic sentiment for July.
Technically speaking, the pair trades between supports at 1.3286 (July 29th highs), 1.3280 (June 19th lows) ahead of 1.3266 (August 6th lows) and resistances at 1.3298 (June 19th highs), 1.3311 (August 1st highs) followed by 1.3325 (August 8th highs). The FXstreet.com trend index reports the pair as slightly bullish on one-hour timeframe analysis as the CCI indicator points up.