Forex Zone (Forex Zone)
Czech markets  |  February 12, 2013 09:50:34

Monday's chill


Yesterday was in some markets too calm, most probably on EUR / USD and U.S. equity indices. It was partly due to the fact that yesterday was not disclosed any significant macro data. Some currencies were active on the contrary, most probably GBP and AUD.

And so, one of the few things that we want to pay attention to is a speech Vice Fed, Janet Yellen. It is seen as a possible successor for Bernanke, who mandate ends next year. In her speech to the labor union AFL-CIO but just reiterated what we hear from the Fed for a long time - economic growth is very weak. "We have and we are taking strong measures to strengthen economic growth and job creation," said Yellen.

As regards developments in the monitored pair EUR / USD, so that yesterday on the daily chart created inside the candle. The margin was only a few pips below Friday. The market is practically ranged support around 1.3350 and resistance around 1.3425, which we announced.

Nowadays a meeting of EU finance ministers. But this is not given much attention. I wrote about it recently in the euro area is now everything is fine and the debt crisis is somehow forgotten. Afternoon ECB Draghi will head in the Spanish parliament. If he says something unexpected, we could not wait for the next move.

After two days, when the EUR / USD "resting" in the narrow range according to our waiting just for added momentum to the horizontal motion. Penetration yesterday's inside day candle will be seen as a significant event, and if punctured comes as a response to a message, so we want to open a store in the direction of penetration. So far, we are more inclined to a further weakening of the EUR / USD.

The major supports of today we see around 1.3350 and 1.3320. Major resistance around 1.3430 and 1.3480.

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