Forex Zone (Forex Zone)
Czech markets  |  February 13, 2013 09:54:58

Obama's priorities for this year


Last night U.S. time to appear before the U.S. Congress, President Obama with an annual report on the state of the union. Obama focused on economic problems and high unemployment. Supports raising taxes for the rich and $ 50 billion dollar plan for the reconstruction of roads and bridges. Themes and messages were uniquely American, such as withdrawal of troops from Afghanistan half, the defense of gay rights and restrictions on assault weapons.

For us, the key will be to watch another round of debate about the fiscal cliff. This will be the first big test. Sami, we believe that in 5 minutes to twelve, maybe a few minutes after twelve will turn to shift the whole problem. Why not, it's easier to marginalize the problem than finding a solid, long-term solution.

As regards developments in the monitored pair EUR / USD, the last before lunch quickly strengthened and penetrated inside Monday's high bar. As we pointed out, it was a good opportunity for long trade. The governor got a little under pressure, but eventually came to resistance around 1.3480, for which we also pointed out.

Today's Asian session took place in a very narrow range. It was after eight o'clock punctured, but the market lacked momentum to overcome yesterday's high. We expect that yesterday's high will still be tested. Above this high perceived significant resistance around 1.3500 and 1.3535. At these levels, we look for signals to enter short trades. If the price of the test below, we see strong support around 1.3410 and 1.3350. At these levels, we look for signals to enter into long term business.

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