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4 Oct 2013
EUR/USD continued its raging rally Thursday – still room up to 1.3682 target
FXstreet.com (Barcelona) - The EUR/USD continued higher for third straight session – setting new short-term highs and coming ever closer to 1.3682 target.
Focus to continue to be on the DC throw down
EUR/USD traders will get to trade off of EuroZone and German producer price indices early on Friday. Due to the government shutdown, there will be no monthly jobs data released by the US Friday. Clearly, the primary driver of the trading action in EUR/USD will be the relative strength or weakness of the greenback, which is going to be driven short-term by the developments in Washington.
Technical outlook for EUR/USD
Technicians say the EURUSD appears to have room up to 1.3682 before any meaningful resistance comes into play. Support for the cross comes in at 1.3500 and then 1.34600.
Focus to continue to be on the DC throw down
EUR/USD traders will get to trade off of EuroZone and German producer price indices early on Friday. Due to the government shutdown, there will be no monthly jobs data released by the US Friday. Clearly, the primary driver of the trading action in EUR/USD will be the relative strength or weakness of the greenback, which is going to be driven short-term by the developments in Washington.
Technical outlook for EUR/USD
Technicians say the EURUSD appears to have room up to 1.3682 before any meaningful resistance comes into play. Support for the cross comes in at 1.3500 and then 1.34600.