EUR/USD
The signs of strengthening in the US economy, traders raise their optimism towards the US dollar. The dollar posted a bigger monthly gain against the Euro. The unexpected GDP pushed the pair towards an 8-month low.
Bearish view-
The pair hit the 50MSma and is trading below 1.3420.
Trading far below the 200WEma, 50WSma and 50DSma& 200DEma- highly bearish.
Monthly resistance 1.37
The pair made multi-month resistance at 1.37 (June and July). As we recommended earlier, until the pair trades below 1.37, we can see 1.3450, 1.3295 and 1.3210. It made a low at 1.3366 and is still waiting for the rest.
Intraday cmp 1.3390
In Asia's session, the pair is trading above 35HDema and still below 21HSma and 34HSma. On an hourly basis, the pair has still been closing below 12ema rejected on July 29 and still prices close below that.
Resistance 1.34 1.3420 1.3440
Support 1.3380 1.3360 1.3295
12ema 1.34
Above 12ema, it can fly up to 1.3420 and 1.3440, but strong up move is only above 1.3440.
The material has been provided by InstaForex Company - www.instaforex.com
For detail explanation and best discovery on market trends you may visit via Review of EUR/USD for August 01, 2014 . Thanks for your support on Review of EUR/USD for August 01, 2014
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