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25 Nov 2013
EUR/USD still bearish technically even after two-day bounce to end the week
FXstreet.com (Barcelona) - The EUR/USD is up modestly to start the week – continuing the short-term bounce that started in the middle of last week. Unless 1.3563 is taken out on upside, though, bears remain in control.
EUR/USD traders to monitor ECB Governor speech and US data Monday
EUR/USD traders will be monitoring the sentiment expressed by ECB Governor Christian Noyer during a speech he is scheduled to give during the Monday session. During the US trading hours, US Pending Home sales and the Dallas Fed Manufacturing Index will be released.
Technical outlook for EURUSD
Technicians say the EUR/USD has Fibonacci retracement resistance at 1.3563 and support at Thursday’s intraday low of 1.3398. The technicians say that if Wednesday’s high holds up as resistance, the ultimate downside target for the EUR/USD will be down near 1.3150. If 1.353 is eclipsed, the bears still have a shot at retaining control of the situation if last Wednesday’s peak at 1.3578 is not taken out.
EUR/USD traders to monitor ECB Governor speech and US data Monday
EUR/USD traders will be monitoring the sentiment expressed by ECB Governor Christian Noyer during a speech he is scheduled to give during the Monday session. During the US trading hours, US Pending Home sales and the Dallas Fed Manufacturing Index will be released.
Technical outlook for EURUSD
Technicians say the EUR/USD has Fibonacci retracement resistance at 1.3563 and support at Thursday’s intraday low of 1.3398. The technicians say that if Wednesday’s high holds up as resistance, the ultimate downside target for the EUR/USD will be down near 1.3150. If 1.353 is eclipsed, the bears still have a shot at retaining control of the situation if last Wednesday’s peak at 1.3578 is not taken out.