EUR/USD Forex Technical Analysis 31 of December 2012

In the “middle” of the European time zone the market has not been as active as many expected, a short fall was registered in “brink of daylight” shortly under the 1.3200 point towards the current low 1.3173 spot. The EUR/USD currency pair is coming back to its “usual” movement.

Meanwhile in Greece all retail sales cleared and brought some contraction from -11.4% towards -18.1% in October.

The United States “fiscal cliff” stayed on the same “huge” issue and the Senate will hold a new meeting around 16:00 today. A vote may take place but there are many chances of rejection by the Republican majority these chances are very high and spending cuts would take effect at midnight.

Most traders announce that there is a lot of resistance at the 1.3300 point, but “problems” seem to continue “smashing” any bullish movement as the EURUSD currency pair gains strength, every trader points to the 1.3119 spot.



High = 1.3236


Low = 1.3172

S3 = 1.3080   S2 = 1.3113    S1 = 1.3145


R1 = 1.3237   R2 = 1.3271    R3 = 1.3304


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