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May 24, 2013
EUR/USD attempts to regain 1.3000
FXstreet.com (Barcelona) - The shared currency attempted to clinch the psychological mark at 1.3000 on Friday, although the intent died off soon after.
“We think that a stab at the 1.3030-1.3040 range in EUR/USD is a distinct possibility in the run-up to next week’s second pass at US Q1 GDP if today’s data seriously disappoint”, commented Strategist Stephen Gallo at BMO, ahead of the US Durable Goods Orders due later. Recall that prior estimates points to a monthly expansion of 1.5% of the headline and 0.5% excluding the Transportation sector.
The pair is now advancing 0.34% at 1.2978 and a surpass of 1.2998 (high may 22) would expose 1.2999 (MA21d) and finally 1.3030 (high May 14). On the downside, a breach of 1.2900 (MA10d) would then target 1.2821 (low May 23) en route to 1.2809 (low May 20).
“We think that a stab at the 1.3030-1.3040 range in EUR/USD is a distinct possibility in the run-up to next week’s second pass at US Q1 GDP if today’s data seriously disappoint”, commented Strategist Stephen Gallo at BMO, ahead of the US Durable Goods Orders due later. Recall that prior estimates points to a monthly expansion of 1.5% of the headline and 0.5% excluding the Transportation sector.
The pair is now advancing 0.34% at 1.2978 and a surpass of 1.2998 (high may 22) would expose 1.2999 (MA21d) and finally 1.3030 (high May 14). On the downside, a breach of 1.2900 (MA10d) would then target 1.2821 (low May 23) en route to 1.2809 (low May 20).