EUR / USD
The euro rose slightly after Wednesday’s fall, as there is a bullish momentum on the daily chart and a slight rise in the daily clouds is attracting. A slight optimism in the market is also useful, but strong resistance to come and a double failure of the recovery suggest that the upside attempts may be limited. The Eurogroup meeting is at the center of preoccupations today and if the European authorities reach an agreement on the financing of the common response to the crisis, the single currency could receive a new impetus. Unemployed claims in the United States are also on the list of key events today (5.25 mln f / c versus the previous week’s record 6.6 mln) and could influence the performance of the euro if figures exceed expectations, which could be a very likely scenario. The converging declines of 10 / 20DMA offer solid resistance in the 1.0910 / 24 area (also Fibo 38.2% of 1.1147 / 1.0768) with a firm break here to pave the way for a stronger recovery towards 1, 0975 (55DMA) and a psychological barrier 1.10 (also Fibo 61.8% from 1.1147 / 1.0768). The 5DMA with lateral displacement (1.0842) holds the action of Wed / today and marks a pivot support, the loss of which will generate a negative signal.
Res: 1.0882; 1.0910; 1.0924; 1.0957
Supper: 1.0842; 1.0830; 1.0800; 1.0783