EUR/USD April 1 – Relaxing on low volume, awaiting the storms



EUR/USD, opens the new trading week very quietly, making an initial dip and recovering over the 1.28 line once again. Many financial centers are still closed for the Easter holiday. More action is expected in the US session, when the ISM Manufacturing PMI is released – it is the first hint towards the Non-Farm Payrolls. The rest of the week is already packed with top tier events, including the euro-zone rate decision.

Here is a quick update on the technical situation, indicators, and market sentiment that moves euro/dollar.

EUR/USD Technical

  • Asian session: Euro/dollar opened with a drop to 1.2771 before coming back to trade above 1.28..
  • Current range: 1.2805 to 1.2880

Further levels in both directions:  EUR USD Technical View for currency trading April 1 2013

  • Below: 1.2805, 1.2746, 1.27, 1.2660 and 1.2587.
  • Above: 1.2880, 1.2960, 1.3000, 1.3100, 1.3130 and 1.3170.
  • 1.2805 is providing weak support to the pair. 1.2746 is stronger.
  • 1.2880 is the next resistance line.

Euro opens the week steadily– click on the graph to enlarge.

EUR/USD Fundamentals

  • 13:00 US Final Manufacturing PMI, exp. 55 points.
  • 14:00 US ISM Manufacturing PMI, exp. 54.2 points.
  • 14:00 US Construction Spending, exp. +1.1%.

For more events and lines, see the Euro to dollar forecast

EUR/USD Sentiment


About

Yohay Elam – Founder, Writer and Editor

I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I’ve accumulated. After taking a short course about forex. Like many forex traders, I’ve earned the significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me.

Before founding Forex Crunch, I’ve worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.

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