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7 Mar 2014
EUR/USD for the 2013 high?
FXStreet (Guatemala) - EUR/USD is trading close to the 1.3894 2013 high and the 1.3960/50% retracement of the sell off from the 2008 peak. This might be the limit for now with a busy set of data on the cards for tomorrow with the US jobs reports.
Markets have been given the green light to jump into the Euro denominated assets again with the ECB holding fire and focusing on the better than expected data of late, signifying that there may not be a need to decrease rates at all and in fact there may even be other solutions to tackle possible deflationary times ahead. Analysts at Rabobank said, “the bottom-line message here is that the ECB ‘truly’ believes that inflation will gradually revert back to its policy target level of “below but close to 2%”.
EUR/USD Levels
The 20 DMA is 1.3701, the 50 DMA is 1.3656 and the 200 DMA is 1.3452. RSI (14) reads 63.88. Supports are ascending from 1.3639, 1.3673, 1.3694, 1.3707, 1.3749, 1.3760, 1.3782 and 1.3793. Spot is 1.3858 and eye’s 1.3894 2013 high.
Markets have been given the green light to jump into the Euro denominated assets again with the ECB holding fire and focusing on the better than expected data of late, signifying that there may not be a need to decrease rates at all and in fact there may even be other solutions to tackle possible deflationary times ahead. Analysts at Rabobank said, “the bottom-line message here is that the ECB ‘truly’ believes that inflation will gradually revert back to its policy target level of “below but close to 2%”.
EUR/USD Levels
The 20 DMA is 1.3701, the 50 DMA is 1.3656 and the 200 DMA is 1.3452. RSI (14) reads 63.88. Supports are ascending from 1.3639, 1.3673, 1.3694, 1.3707, 1.3749, 1.3760, 1.3782 and 1.3793. Spot is 1.3858 and eye’s 1.3894 2013 high.