• 44 mins The Two Trillion Dollar Markets Amazon Hasn’t Conquered
  • 2 hours Digital Supermodels Outperform Humans
  • 3 hours France Could Lose Billions In EU Trade Route Redirection
  • 4 hours Beer Giants Are Striking Out With Millennials
  • 6 hours What Is Bakkt And Can It Take Bitcoin Mainstream?
  • 8 hours Tesla’s Board Delivers A Stern Message To Elon Musk
  • 24 hours Bitcoin Could Challenge Gold As Major Asset Class
  • 1 day Google In Talks With Tencent Over Cloud Business
  • 1 day Tech Giants Charge Deeper Into $8 Trillion Healthcare Industry
  • 1 day Lockheed Stock Soars On $480M Pentagon Contract
  • 1 day Ontario Moves To Slow Cannabis Drive
  • 1 day The Tech That Will Shape The Future Of Megaprojects
  • 1 day What Role Will The Saudis Play In Tesla's Private Listing?
  • 2 days Investors Flee Emerging Markets Amid Lira Crisis
  • 2 days Startup Aims To Attract Young Renters With Savvy Tech
  • 2 days The Last Frontier For Artificial Intelligence
  • 2 days EU Companies Struggle To Pick Sides In U.S.-Iran Dispute
  • 2 days Turkey’s Currency Crisis Raises Fears Of Contagion
  • 2 days Could Gold Fall Below $1,000?
  • 2 days Markets Open Higher Despite Ongoing Turkish Crisis
MIG Bank

MIG Bank

MIG Bank

MIG BANK, formerly known as MIG INVESTMENTS, was established in Neuchatel, Switzerland as an online Forex broker and in 2009 became the world's 1st Forex…

Contact Author

  1. Home
  2. Markets
  3. Other

EUR/USD: Short Term Correction

EUR/USD is close to the key resistance area defined by 1.3107 (15/03/2013 high, see also 38.2% retracement of the decline from 1.3711) and 1.3162 (28/02/2013 high). However, thus far, the recent weakness looks like a short-term pullback on the broken declining trendline. Another support can be found at 1.2962 (08/04/2013 low).

In the longer-term, the succession of lower highs since 1 February and the recent new lows below the key support at 1.2877 (07/12/2012 low, see also 200 day moving average) suggest that the rise from July 2012 has made its top at 1.3711. Key resistances are at 1.3162 (28/02/2013 high) and 1.3319 (25/02/2013 high). Key supports are at 1.2662 (13/11/2012 low) and 1.2043 (24/07/2012 low).

Daily Technical Report


Read the Report

Back to homepage

Leave a comment

Leave a comment