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

12 comments:

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

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

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  4. 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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  5. thats a big jump from june to november

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  6. Thanks for the great info as always.

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

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

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