12:25 GMT Feb 14 – Mixed skies for the EURUSD as it batlles around 1.32 for the 13th day in a row. If you are looking for what lifted the EURUSD back to 1.32, the stronger ZEW helped but it was offsets from a firmer EURJPY, which extended its trade around 103 for the 4th day in a row.
Daily Jay Meisler's Forex WeatherMap
Feb 14, 2012 EURUSD (Current rate: 1.3193, O/N Range 1.3128 -1.3215)
Outlook: There seems to be more talk of a range developing than a trend with the 20 day mva (1.3093) and 100 day mva (1.3326) bounding on both ssides. What seems clear is that 1.32 is pivotal as the market takes a step back waiting for the Eurogroup decisionnon the Greek bailout tomorrow. This suggests Tuesday may be a consolidating session with little in the way of stops to go after while within 1.3128-1.3286.
Range:
Resistance
1.3286
1.3250
1.3215-22
1.3180
1.3150
1.3128
Daily Jay Meisler's Forex WeatherMap
Feb 14, 2012 EURUSD (Current rate: 1.3193, O/N Range 1.3128 -1.3215)
Outlook: There seems to be more talk of a range developing than a trend with the 20 day mva (1.3093) and 100 day mva (1.3326) bounding on both ssides. What seems clear is that 1.32 is pivotal as the market takes a step back waiting for the Eurogroup decisionnon the Greek bailout tomorrow. This suggests Tuesday may be a consolidating session with little in the way of stops to go after while within 1.3128-1.3286.
Range:
Resistance
1.3286
1.3250
1.3215-22
1.3180
1.3150
1.3128
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