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18 Feb 2013
Forex: EUR/USD calm and flat ahead as European morning ends
The EUR/USD remains under a quite reserved trading today, despite that 40-pip spike to 1.3379 high during the European morning. While trading lower before the European session, mostly supported around 1.3330, the pair is now mostly moving around the weekly opening price.
An empty economic calendar and the north American continent out on holidays are putting investors to sleep. However, ECB President Mario Draghi is speaking at 14:30 GMT, gathering all market attention. Or what is left of it.
"EUR/USD is approaching its strong support area defined by 1.3257 (16/01/2013 low) and the low of the rising channel", wrote MIG Bank analyst Bijoy Kar, pointing to a break of the hourly resistance at 1.3393 (15/02/2013 high) to validate an hourly bullish head and shoulders.
An empty economic calendar and the north American continent out on holidays are putting investors to sleep. However, ECB President Mario Draghi is speaking at 14:30 GMT, gathering all market attention. Or what is left of it.
"EUR/USD is approaching its strong support area defined by 1.3257 (16/01/2013 low) and the low of the rising channel", wrote MIG Bank analyst Bijoy Kar, pointing to a break of the hourly resistance at 1.3393 (15/02/2013 high) to validate an hourly bullish head and shoulders.