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Trading news
22 Feb 2013
Forex: EUR/USD closes the week in the defensive zone
The sentiment surrounding the bloc currency has given up any attempt of correction for the time being, reorienting its focus on the key Italian elections due on Sunday and praying for a bad performance from former PM Silvio Berlusconi.
Moving forward to Monday’s docket, risk trends would be put to the test after the flash manufacturing PMI in China ahead of the trade balance figures in Italy. Across the pond, a speech by Fed’s Lockhart would precede the Dallas Fed Manufacturing Business index.
At the moment, the cross is down 0.04% at 1.3184
Next support levels await at 1.3122 (MA100d) followed by 1.3039 (low Jan.10) en route to 1.3018 (low Jan.7).
On the flip side, a breakout of 1.3246 (high Feb.22) would expose 1.3289 (MA55d) ahead of 1.3343 (MA10d).
Moving forward to Monday’s docket, risk trends would be put to the test after the flash manufacturing PMI in China ahead of the trade balance figures in Italy. Across the pond, a speech by Fed’s Lockhart would precede the Dallas Fed Manufacturing Business index.
At the moment, the cross is down 0.04% at 1.3184
Next support levels await at 1.3122 (MA100d) followed by 1.3039 (low Jan.10) en route to 1.3018 (low Jan.7).
On the flip side, a breakout of 1.3246 (high Feb.22) would expose 1.3289 (MA55d) ahead of 1.3343 (MA10d).