Forex Today News Monday 12.02.2013 Gold Eur Usd Jpy
Forex Today News will show Gold bearish and EURUSD Bearish under pressure.
Gold continued its sharp decline after a pressure on the development of the FED news that the U.S. central bank signaled an opportunity to reduce the bond-buying program in the coming months. In tekhnikal can be seen that indeed there had been a drop in pressure since a few days earlier after being unable to move up too far away from MA, MA finally broke through and pushed down to the present day.
EUR / USD has broken down from the rising trendline seen in chart 1 hour. MA 20 has been cut down to the 50 on the 1 hour chart. The EUR is under pressure and intraday bias is bearish for today. Note support at 1.3414 as expected bearish pressure will be even greater if the support level breaks. If that happens, the EUR / USD is expected to continue the bearish movement to the range 1.3376-1.3333.
Gold continued its sharp decline after a pressure on the development of the FED news that the U.S. central bank signaled an opportunity to reduce the bond-buying program in the coming months. In tekhnikal can be seen that indeed there had been a drop in pressure since a few days earlier after being unable to move up too far away from MA, MA finally broke through and pushed down to the present day.
EUR / USD has broken down from the rising trendline seen in chart 1 hour. MA 20 has been cut down to the 50 on the 1 hour chart. The EUR is under pressure and intraday bias is bearish for today. Note support at 1.3414 as expected bearish pressure will be even greater if the support level breaks. If that happens, the EUR / USD is expected to continue the bearish movement to the range 1.3376-1.3333.
