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Thursday, August 22, 2013

EUR/USD TECHNICAL ARTICLE ON AUGUST 22





The EUR/USD has gained a sum of 700 pips against the USD since the mid June. The euro has been sailing in the appropriate trend as by its economy. 

Hence, this slump of USD does work out with the other pairs too. As, it is a major currency, it struggles to revive from this decline. But, the trend indicator of moving average is filtering the trend as long. 

This “long” will continue until to reach the resistance of 1.33572. There will be sequential economic releases for the USD on today. 

This would make USD to gain when the releases show favor to the USD. If not providing any stimulus to USD, it will continue the trend to buy. 

The price of this pair is currently in the oversold and predicting to achieve some good resistance. The uncertainty of the market will be revealed only after the news releases. If the trend supports the USD, then it is possible to grab 70+ pips.

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