Market Review by TradingForex.com

Market News 31 JAN 2013
Currencies EUR/USD The dollar fell to its weakest level in over a year, against the euro. It lost 0.1 percent and traded at 1.3579 per euro at 6:10 am London time. During this month the euro has strengthened against the dollar by 2.8 percent, and it keeps doing so. It gained 0.5 percent since yesterday and at 9:45 am it traded at 1.3553 dollars per euro.
USD/JPY The dollar fell further against most major currencies, but it advanced against the Japanese yen by 0.4 percent trading at 91.98 yen, after reaching its strongest level since June 2010 at 91.41. The pair lost 0.20 percent and traded at 90.91. It is expected to find support at 88.29 and resistance at 91.35.
GBP/USD The British pound gained against the dollar, which has been falling. The British pound, U.S. dollar pair traded at 1.5796, a 0.21 percent increase, it is expected to find support at 1.5675 and resistance at 1.5892.

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Based on the charts and explanations above, our opinion is selling the pair below
1.3000 targeting 1.2905, 1.2865 then 1.2805 and stop-loss with four-hour closing
above 1.3080 might be appropriate.


Support 1.2980 1.2965 1.2905 1.2865 1.2805

Resistance 1.3000 1.3000 1.3080 1.3100 1.3155

 

Based on the charts and explanations above, our opinion is selling the pair below
1.3000 targeting 1.2905, 1.2865 then 1.2805 and stop-loss with four-hour closing
above 1.3080 might be appropriate.


Support 1.2980 1.2965 1.2905 1.2865 1.2805

Resistance 1.3000 1.3000 1.3080 1.3100 1.3155




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