Thursday, March 17, 2011

EUR/USD 1,4215

While the EUR/USD rallied to a fresh 4-month high above 1.4050 earlier, corrective movement brought it back to the downside of 1.4000 before support was found at 1.3980. In the last hour, the pair has bounced a firm 50 pips from that mark, reaching as high as 1.4028 before settling towards 1.4010 at time of writing.

While still in range to the recent maximum, immediate resistance above is placed at 1.4082 (21-Day Upper Bolli), 1.4085 (Daily High Nov 8) and 1.4249 (Daily High Nov 5). Support on the other side is placed at 1.3934 (10-Day MA), 1.3855 (Daily Low Mar 15) and 1.3841 (21-Day MA).

Regarding the strong macroeconomic data coming out of the US today, in particular both initial and continuing jobless claims dropped considerable under last week´s figures, while more recently the Philly Fed manufacturing survey surprised expectations and jumped to a strong reading of 43.4 in March compared to 35.9.

source: fxstreet.com
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12 comments:

  1. Eric PMarch 17, 2011 at 11:38 AM

    Wow, have not seen the Euro that high in a long time... has the pound been increasing versus the dollar as well?

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  2. ChuckMarch 17, 2011 at 12:34 PM

    My stock is holding well, regardless of the late mess we've seen. :)

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  3. SamMarch 17, 2011 at 12:50 PM

    Have you got much analysis on the Yen's strong gain on the dollar recently?

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  4. MoobeatMarch 17, 2011 at 2:45 PM

    pockets are hurting!

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  5. UnknownMarch 17, 2011 at 2:53 PM

    It's been interesting to watch the market ever since the quake. A lot of unexpected results, that's for sure.

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  6. edMarch 17, 2011 at 3:48 PM

    thats a big jump from june to november

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  7. ChefJRHMarch 17, 2011 at 5:51 PM

    Thanks for the great info as always.

    ReplyDelete
  8. Aaron M. GipsonMarch 17, 2011 at 7:34 PM

    It's good to know that jobless claims are finally starting to drop.

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  9. ChrisMarch 17, 2011 at 8:39 PM

    What a jump in Yen eh

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  10. Jessica ThompsonMarch 17, 2011 at 9:02 PM

    thats a lot of volatility... So how have recent world events affected the EUR/USD trade?

    ReplyDelete
  11. skinned sheepMarch 18, 2011 at 2:47 AM

    hm.. thank you.

    ReplyDelete
  12. PrototapeMarch 18, 2011 at 6:06 PM

    Good news indeed

    ReplyDelete

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