Forex news on August 22nd,2013

EUR/USD TECHNICAL ARTICLE ON AUGUST 22

The EUR/USD has gained a sum of 700 pips against the USD since the mid June. The euro has been sailing in the appropriate trend as by its economy. 

Hence, this slump of USD does work out with the other pairs too. As, it is a major currency, it struggles to revive from this decline. But, the trend indicator of moving average is filtering the trend as long. 

This “long” will continue until to reach the resistance of 1.33572. There will be sequential economic releases for the USD on today. 

This would make USD to gain when the releases show favor to the USD. If not providing any stimulus to USD, it will continue the trend to buy. 

The price of this pair is currently in the oversold and predicting to achieve some good resistance. The uncertainty of the market will be revealed only after the news releases. If the trend supports the USD, then it is possible to grab 70+ pips.

NZDUSD TECHNICAL ARTICLE ON AUGUST 21

 

The NZD/USD has opened its market at 0.79763 on today. From the instant, the short has occurred in the way to compensate the NZD gain of around 200 pips. But, it is hard to achieve in the very short time. 

Anyhow, the indicators are showing great confidence over this anticipation. Today, the trend has already crossed its first support of 0.79253. The belief on the moving average will make the short to cross the support of 0.78784. 

But, there are two possible ways in the market. If the trend crosses the support of 0.78784, it will be expecting its good support of 0.77363. Else, the trend will bounce back from the support point and the NZD will be starting its gain against the USD. 

Anyway, by this fluctuation, the traders are possible to gain some good pips from the trend. The aftereffect will show positive to the traders in the trust over the indicators.