The EUR/USD currency pair was “ greatly enhanced” by the recent and somehow “premature” release of the consumer indicator in central Europe, more accurate in France which went up from 83 to the value of 86 as everyone expected to happen in December 2012, clearly an extension followed on the upside to 1.3272 point, coincidentally European markets opened at the same time as the announcement “hit” the light.
United States President Obama announced his “clear” ambitions on all legal matters made in order to avoid a “fiscal cliff climb or downfall” on late Friday, Congress was “summoned” to adopt a social measure in order to keep benefits “flying” to the unemployed workers, also preventing taxes from rising on income under $25 k per year.
All of these social measures are meant to “lay the open field for harvest” and enhance economic growth in the US “part of town”.
All traders announce that some resistance is expected to reside at the 1.3300 point, this action continues to lay down “some” bullish sentiments as the single currency pair continues to consolidate, a value of 1.3165 and 1.3119 is expected to take shape even if it fails on the upside.
High = 1.3273
Low = 1.3219
S3 = 1.3131 S2 = 1.3164 S1 = 1.3197
R1 = 1.3283 R2 = 1.3316 R3 = 1.3349