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31 Mar 2014
EUR/USD eyes on Yellen post 1.3800 test
FXStreet (London) - Following a respective high and low at 1.3807 and 1.3722 , EUR/USD is currently trading at 1.3790, up 0.30% on the day.
EUR/USD fails to hold 1.3800... for now
Today has seen EU CPI miss expectations alongside US Chicago Purchasing PMI too. Fed Chair Yellen is also due to speak very shortly at 13:55 GMT following comments from the ECB’s Nowotny, who stated that the Eurozone recession is over. Following EUR/USD’s failure to sustain a move above 1.3800, Jamie Coleman of FXBeat comments that “Small bids are seen in the 1.3770/75 region near term. Better buying is seen in the 1.3745/50 region.”
EUR/USD technically overbought?
The hourly FXStreet OB/OS Index is showing overbought conditions, alongside the FXStreet Trend Index which is slightly bullish. Currently RSI is at 53.12, down from the last hourly print at 64.18, with ADX at 25.74, up from its previous close at 13.61. Looking to a daily chart, we see that RSI is neutral at 45.77.
A declining 200 SMA on the hourly EUR/USD chart is currently at 1.3752, down from 1.3800 at the previous close. On average, the exponential closing price for the past 20 days is 1.3801, with the trend indicating a continuation lower ahead.
On the hourly EUR/USD chart, ATR (14) is presently at 11 pips, while 2-Standard Deviation Volatility Bandwidth is expanding and currently 66 pips. Daily 2-Standard Deviation Volatility Bandwidth is at 265 pips and shrinking. The average movement for the current session over the previous four weeks has been 11 pips. Further, today’s peak period for volatility was between 8:00-9:00 GMT, which saw an average movement of 14 pips over the previous four week period.
EUR/USD Levels
Spot is presently trading at 1.3798, and next resistance can be seen at 1.3800 (Hourly 200 SMA), 1.3801 (Daily 20 SMA), 1.3807 (Daily High), 1.3812 (Daily Classic R2) and 1.3839 (Weekly High). Support below can be found at 1.3782 (Daily Classic R1), 1.3778 (Weekly Classic PP), 1.3777 (Hourly 100 SMA), 1.3774 (Yesterday's High) and 1.3766 (Hourly 20 EMA).
EUR/USD fails to hold 1.3800... for now
Today has seen EU CPI miss expectations alongside US Chicago Purchasing PMI too. Fed Chair Yellen is also due to speak very shortly at 13:55 GMT following comments from the ECB’s Nowotny, who stated that the Eurozone recession is over. Following EUR/USD’s failure to sustain a move above 1.3800, Jamie Coleman of FXBeat comments that “Small bids are seen in the 1.3770/75 region near term. Better buying is seen in the 1.3745/50 region.”
EUR/USD technically overbought?
The hourly FXStreet OB/OS Index is showing overbought conditions, alongside the FXStreet Trend Index which is slightly bullish. Currently RSI is at 53.12, down from the last hourly print at 64.18, with ADX at 25.74, up from its previous close at 13.61. Looking to a daily chart, we see that RSI is neutral at 45.77.
A declining 200 SMA on the hourly EUR/USD chart is currently at 1.3752, down from 1.3800 at the previous close. On average, the exponential closing price for the past 20 days is 1.3801, with the trend indicating a continuation lower ahead.
On the hourly EUR/USD chart, ATR (14) is presently at 11 pips, while 2-Standard Deviation Volatility Bandwidth is expanding and currently 66 pips. Daily 2-Standard Deviation Volatility Bandwidth is at 265 pips and shrinking. The average movement for the current session over the previous four weeks has been 11 pips. Further, today’s peak period for volatility was between 8:00-9:00 GMT, which saw an average movement of 14 pips over the previous four week period.
EUR/USD Levels
Spot is presently trading at 1.3798, and next resistance can be seen at 1.3800 (Hourly 200 SMA), 1.3801 (Daily 20 SMA), 1.3807 (Daily High), 1.3812 (Daily Classic R2) and 1.3839 (Weekly High). Support below can be found at 1.3782 (Daily Classic R1), 1.3778 (Weekly Classic PP), 1.3777 (Hourly 100 SMA), 1.3774 (Yesterday's High) and 1.3766 (Hourly 20 EMA).