Last week was one with a lot of price movement mostly because of the important economic data published.
Both in Europe and USA, unemployment rate fell to 9.9% and 9.7%. The interest rates for both euro and British pound where unchanged from the lowest levels in history, 1% and 0.5%.
Eur/Usd
Fundamental Analysis
Today for the Euro zone will be published the investors confidence, and the expectations are for a slightly increase to -8.0. Also for the euro we will see if the industrial production in Germany increased, expectations are for an increase of 1.1%
Today it is possible to be a average Monday trading day, without to big price movements that might be dominated by a dollar buying attitude.
Technical Analysis
Eur/Usd made last week a double bottom around 1.3500 after that increasing to around 1.3700. This level, at 1.3700 it seems to resist even at this moment, making possible for the eurusd to reach the 1.3550 support level.
Support Levels: 1.3630; 1.3600; 1.3550
Resistance Levels: 1.3700; 1.3780; 1.3850
Moving Averages (5, 20): Sell
MACD (standard): Sell
RSI (14): 70 – Sell
GBP
Fundamental Analysis
For the pound today there will be no economic data, but Bank of England’s member Barker will make a speech, which is possible not to offer to many or important information.
Technical Analysis
Gbp/Usd managed to rise after the 400 pips loss, but it is possible that this appreciation to stop around the 1.5200 level, level at which is right now, making it possible to see the gbpusd around 1.4800 at the end of the week.
Support Levels: 1.5120; 1.5050; 1.5000
Resistance Levels: 1.5200; 1.5250; 1.5310
Moving Averages (5, 20): Sell
MACD (standard): Sell
RSI (14): 67 – Neutral with depreciation tendencies
USD
Fundamental Analysis
Like in the Great Britain case, today for the US there will be no economic data published.
Technical Analysis
The Dollar Index fell last week to around the 80.00 level and it is possible that in the second half of the week to retest that level and even pass it, reaching to around 79.00
Support Levels: 80.20; 79.80; 79.50
Resistance Levels: 80.50; 80.80; 81.30
Moving Averages (5, 20): Buy
MACD (standard): Buy
RSI (14): 32 – Neutral with appreciation tendencies
The information on this site are purely speculative and do not represent a investment recommendation.
Tags: Daily Analysis, Foreign Exchange, Forex, Fundamental Analysis, FX, Resistance Levels, Support Levels, Technical Analysis