Euro remains clearly the best chance across the board. With stocks falling and gold at 1031/oz, the European currency likely to extend the downside rally, thus market will define the intraday trend after U.S. Durable Goods data. Expected to the upside around 1.2%, previous month reading has been already revised to the downside, -2.6%. A number above 1.2% could trigger some optimism across the board, sending stocks and Euro higher, as the pair has just reached the 200 EMA in the 4 hours charts, yesterday’s target zone. Above 1.4790, pair could retest the 1.4835 zone. Next resistances come at 1.4880 and 1.4925, not seen at this point.
Trend remains bearish in the pair, so an acceleration under 1.4740 will likely drive the pair first to the 1.4705 area and then to 1.4680. If the last gives up, 1.4650 and 1.4620 are next supports in line.
Trend remains bearish in the pair, so an acceleration under 1.4740 will likely drive the pair first to the 1.4705 area and then to 1.4680. If the last gives up, 1.4650 and 1.4620 are next supports in line.
