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5 Jun 2013
EUR/USD trading negatively at 1.3064/65
FXstreet.com (Barcelona) - The EUR/USD ranged slightly lower Wednesday, falling into negative territory during European trading.
Earlier today in the EMU, Gross Domestic Product s.a. (QoQ) fell -0.2% in Q1, matching expectations. Moreover, Gross Domestic Product s.a. (YoY) also shrunk -1.1% in Q1, missing estimates of -1.0%. Finally, Retail Sales (YoY) were reported at -1.1%, vs. expectations of -0.8%.
Presently, the pair is trading at 1.3064/65, suffering a decline of -0.13% below its opening. Mataf.net analysts calculate measures of support for the EUR/USD at 1.3040, then 1.3012, and ultimately 1.2981. On the ascension, a break above the 1.3099 handle will initiate resistance at 1.3130 and 1.3158.
According to the Technical Analyst Team at ICN.com, “The EUR/USD is still trading positively which is normal in light of stabilizing above 61.8% correction of CD Leg of the bullish harmonic Butterfly Pattern residing at 1.3045. Trading above the referred to level triggers a new attempt to breach 78.6% correction at 1.3110 to move towards 1.3150 levels and perhaps 1.3200.”
Earlier today in the EMU, Gross Domestic Product s.a. (QoQ) fell -0.2% in Q1, matching expectations. Moreover, Gross Domestic Product s.a. (YoY) also shrunk -1.1% in Q1, missing estimates of -1.0%. Finally, Retail Sales (YoY) were reported at -1.1%, vs. expectations of -0.8%.
Presently, the pair is trading at 1.3064/65, suffering a decline of -0.13% below its opening. Mataf.net analysts calculate measures of support for the EUR/USD at 1.3040, then 1.3012, and ultimately 1.2981. On the ascension, a break above the 1.3099 handle will initiate resistance at 1.3130 and 1.3158.
According to the Technical Analyst Team at ICN.com, “The EUR/USD is still trading positively which is normal in light of stabilizing above 61.8% correction of CD Leg of the bullish harmonic Butterfly Pattern residing at 1.3045. Trading above the referred to level triggers a new attempt to breach 78.6% correction at 1.3110 to move towards 1.3150 levels and perhaps 1.3200.”