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26 Aug 2013
EUR/USD smoothly extending trading range
FXstreet.com (Chicago) - EUR/USD stalls as Asian session continues advancing. The pair has lost 0.01% so far within the last hour, marking flat gains ahead of US data.
Durable goods orders, 3 and 6-month bill auction and the Dallas Fed Manufacturing Business Index are to be released later today in the US. US housing data disappointed market participants last week after clueless stand from unclear FOMC minutes. The euro rallied throughout last week but failed to hold fronts above 1.34 zone. Capped at 1.3389 (August 9th highs), the pair retraced facing supports at 1.3372 (August 19th highs), 1.3362 (August 15th highs), 1.3341 (July 31st highs) and resistances at 1.3389 (August 9th highs), 1.3400 (August 22nd highs), 1.3425 (August 20th highs). According to the FXstreet.com trend index, the pair is strongly bullish on one-hour timeframe analysis.
FX Charts analyst Jim Langlands says the dollar is “under pressure after weaker US housing data” and states “momentum will pick up” once data is released and once the European and American sessions open.
Durable goods orders, 3 and 6-month bill auction and the Dallas Fed Manufacturing Business Index are to be released later today in the US. US housing data disappointed market participants last week after clueless stand from unclear FOMC minutes. The euro rallied throughout last week but failed to hold fronts above 1.34 zone. Capped at 1.3389 (August 9th highs), the pair retraced facing supports at 1.3372 (August 19th highs), 1.3362 (August 15th highs), 1.3341 (July 31st highs) and resistances at 1.3389 (August 9th highs), 1.3400 (August 22nd highs), 1.3425 (August 20th highs). According to the FXstreet.com trend index, the pair is strongly bullish on one-hour timeframe analysis.
FX Charts analyst Jim Langlands says the dollar is “under pressure after weaker US housing data” and states “momentum will pick up” once data is released and once the European and American sessions open.