More from FXstreet.com

Forex: EUR/USD back to 1.3100 after session highs

By FXstreet.com,  January 07, 2013, 11:43:00 AM EDT

FXstreet.com (Barcelona) - The single currency is now back to the vicinity of 1.3100 after rebounding to the area around 1.3115 on a sudden burst of risk appetite following the stronger print out of the Canadian Ivey PMI (52.8 vs. 49.5 exp.).

"Prices put in a Hammer above rising trend line support set from late July, hinting a rebound may be ahead. Initial resistance is at 1.3150, marked by the 23.6% Fibonacci expansion. A break above that aims for the 38.2% level at 1.3244. Alternatively, a drop through the trend line (now at 1.2994) aims for December 7 low at 1.2875", assessed I.Spivak, Currency Strategist at DailyFX.

The cross is now advancing 0.22% at 1.3105 with the next hurdle at 1.3150 (MA21d) followed by 1.3170 (MA10d) and then 1.3190 (high Jan.3).
On the flip side, a breakdown of 1.2998 (low Jan.4) would aim to 1.2996 (low Dec.12) and 1.2988 (MA55d).




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

Referenced Stocks:



Latest News Video

How to Pick Stocks in This Economic Environment
How to Pick Stocks in This Economic...
How To Grow Your Small Business
How To Grow Your Small Business     
Private Wealth Revives, Managers Face Higher Costs
Private Wealth Revives, Managers Fa...
Private Island on the Thames: $11.7 Million
Private Island on the Thames: $11.7...


Sign-in
Existing NASDAQ.com member? Log in here.

By signing into the site using any of the third-party services above, you agree to NASDAQ.com's Terms of Use.




Most Active by Volume:

Company Last Sale Change Net / %
S $ 7 0.32  4.37%
PFE $ 29.10 0.30  1.02%
BAC $ 13.19 0.08  0.60%
MU $ 13.97 0.22  1.60%
SIRI $ 3.37 0.03  0.88%
GE $ 23.98 0.35  1.44%
QQQ $ 72.76 0.82  1.11%
ELN $ 14.15 0.37  2.69%