You are here: Home > articles > Forex > EUR/USD intraday technical levels and trading recommendations for December 27, 2013
EUR/USD intraday technical levels and trading recommendations for December 27, 2013
December 27, 2013 3:15 pmVideo
Latest News
- Trading Signals for GOLD (XAU/USD) for April 19-22, 2024: sell below $2,395 (+2/8 Murray – overbought) April 19, 2024
- USD/JPY: Simple Trading tips for novice traders on April 19th (US session) April 19, 2024
- GBP/USD: Simple trading tips for novice traders on April 19th (US session) April 19, 2024
- EUR/USD: Simple trading tips for novice traders on April 19th (US session) April 19, 2024
- GBP/USD: trading plan for the US session on April 19th (analysis of morning deals). The pound is trying to regain its advantage April 19, 2024
- EUR/USD: trading plan for the US session on April 19th (analysis of morning deals). The euro compensated for the losses April 19, 2024
- Storm in a teacup: EUR/USD analysis April 19, 2024
- Video market update for April 19, 2024 April 19, 2024
- Eurozone PMIs eyed as euro’s focus turns to rate cuts beyond June – Preview April 19, 2024
- Technical Analysis – NZDUSD falls to fresh 5-month low April 19, 2024
- EUR/USD. April 19th. Bostic, Fed: the rate cut will happen at the end of the year April 19, 2024
- Forecast for GBP/USD pair on April 19, 2024 April 19, 2024
- Weekly Forex Outlook: 14/04/2024 – US GDP and BoJ decision on top of next week’s agenda April 19, 2024
- Market Comment – Safe havens jump as Israel retaliates against Iran April 19, 2024
- Technical Analysis – USDCAD puts rally on hold near 1.3800 caution zone April 19, 2024
- USD/JPY: trading tips for beginners for European session on April 19 April 19, 2024
- GBP/USD: trading tips for beginners for European session on April 19 April 19, 2024
- EUR/USD: trading tips for beginners for European session on April 19 April 19, 2024
- Supercharged US dollar turns to GDP growth data – Preview April 19, 2024
- Technical Analysis – USDCHF remains in bullish structure April 19, 2024
Readings of the European Statistical Office disclosed three weeks ago, the European inflation was at 1.1% in September, in line with preliminary projections, while it settled at 1.3% in August.
This constituted to the recent bullish jump that took place on October 22.
Around 1.3800, previous daily candlesticks represented indecision initiating a bearish retracement towards 1.3450 which failed to provide strong support, and then 1.3280 was tested shortly after.
The price zone of 1.3280 – 1.3300 provided strong demand for the pair pushing it higher above 1.3400 – 1.3450 (prominent technical levels).
Persistence of the current bullish channel to push above 1.3450 level allowed the pair to reach the next supply levels around 1.3650 then 1.3750 respectively.
Bearish rejection was witnessed last week around 1.3800.
The previous bearish impulse, as mentioned last week, needed daily closure below 1.3750 to pursue further targets around 1.3680. However, bullish continuation was enhanced this week after Bullish daily candlestick was expressed last Friday.
The EUR/USD pair will probably be targeting 1.3900 (100% Fibo Expansion ) as long as the bulls are defending the lower limit of the ongoing channel around 1.3650-1.3600.
Daily closure below 1.3620 invalidates this short-term bullish view.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: