2013.01.15: Bounce or Break?
EUR/USD
The resistance level of 1.3380 was touched during today’s trading session and briefly broken but the bulls didn’t have enough power to keep price above it and price slowly retraced under resistance. The Euro zone Industrial Production numbers came out lower than expected, at -0.3% from a forecast of 0.2% but we don’t attribute the small retracement to those worse than expected values.
Technical Outlook
Fundamental Outlook
GBP/USD
The two analyzed pairs seem to move out of correlation lately and yesterday we saw the GBP/USD fall significantly lower compared to the EUR/USD after failing to maintain itself above the level of 1.6130.
Technical Outlook
Fundamental Outlook