[B]DAILY TECHNICAL OUTLOOK ON EUR/USD
Last Update At [/B]
30 Jan 2013 00:23GMT
Trend Daily Chart
Up
Daily Indicators
Bearish divergences
21 HR EMA
1.3471
55 HR EMA
1.3451
Trend Hourly Chart
Up
Hourly Indicators
Bearish divergences
13 HR RSI
60
14 HR DMI
+ve
Daily Analysis
Possible temp. top at 1.3498
Resistance
1.3645 - 100% proj. of 1.2661-1.3308 fm 1.2998
1.3550 - Dec 02 2011 high
1.3500 - Psychological n option barrier
Support
1.3462 - Hourly chart
1.3414 - Y’day’s low
1.3349 - Last Fri’s low
EUR/USD - 1.3491 … The single currency finally took centre stage y’day after volatile movements in Asia n European morning b4 resuming recent uptrend to a near 14-month peak of 1.3498 at NY close after weak U.S. economic data.
Although euro’s breach of last Fri’s 1.3480 high, then 2012 top at 1.3486 to 1.3498 confirms MT rise fm 2012 low at 1.2042 (Jul) has once again resumed, a daily close abv the previously mentioned key 1.3500 option barrier is needed to retain bullish prospect of yielding further headway to next daily chart obj. at 1.3550, then later twd 1.3645, being 100% projection of the MT intermediate rise fm 1.2661-1.3308 measured fm 1.2998.
Today, despite intra-day firmness after easing fm NY high at 1.3498, as this top was accompanied by prominent ‘bearish diverging signals’ on the hourly oscillators, caution is advised on chasing the market here (we already booked profit on previous long position y’day). On the downside, a firm break of hourly sup at 1.3462 wud be the 1st signal a temporary top is possibly in place n risk is seen for weakness twd y’day’s 1.3414 low, breach there wud confirm, 1.3349.
.png)