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2 Jan 2014
EUR/USD declines into European session
FXstreet.com (Barcelona) - EUR/USD moved within a tight overnight range between 1.3777 and 1.3740 and is presently trading at 1.3734, on the first trading session of the new year.
EUR/USD eyes on Manufacturing PMI ahead
The understandably quiet start to the year saw limited overnight movement for the pair, despite the Chinese Manufacturing PMI miss (51/51.3) and ahead we have Markit Manufacturing PMI’s for Spain, Italy, France, Germany, the Eurozone and Greece, starting at 08:13 GMT and proceeding through the hour. Later today we have US Initial and Continuous Jobless Claims and Manufacturing PMI, but all in all, no significant volatility is expected from any of the data sets.
What are today’s key EUR/USD levels?
Hourly RSI sits at 33, with a slight downward momentum, while ADX is at 18 and neutral. The hourly 200 SMA sits at 1.3725 and has an upward trajectory, with the 20D EMA also bullish at 1.3704. Today’s daily pivot point sits at 1.3754 with spot presently trading at S1 support at 1.3741. Next support below is at 1.3728 (S2), with resistance above at 1.3767 (R1). Matt Bacon-Hall of FXBeat notes that bids can be seen between 1.3730-70, with stops below at 1.3730.
EUR/USD eyes on Manufacturing PMI ahead
The understandably quiet start to the year saw limited overnight movement for the pair, despite the Chinese Manufacturing PMI miss (51/51.3) and ahead we have Markit Manufacturing PMI’s for Spain, Italy, France, Germany, the Eurozone and Greece, starting at 08:13 GMT and proceeding through the hour. Later today we have US Initial and Continuous Jobless Claims and Manufacturing PMI, but all in all, no significant volatility is expected from any of the data sets.
What are today’s key EUR/USD levels?
Hourly RSI sits at 33, with a slight downward momentum, while ADX is at 18 and neutral. The hourly 200 SMA sits at 1.3725 and has an upward trajectory, with the 20D EMA also bullish at 1.3704. Today’s daily pivot point sits at 1.3754 with spot presently trading at S1 support at 1.3741. Next support below is at 1.3728 (S2), with resistance above at 1.3767 (R1). Matt Bacon-Hall of FXBeat notes that bids can be seen between 1.3730-70, with stops below at 1.3730.