Well we’ve managed to get the days range to 41 pips in the euro and 62 in the pound but it’s slow going.
Bids cited by Adam at 1.3350 have held up for now but the slow grind lower looks to continue.
Support is minor on the way down with the first being tech support and the broken May 2011 trendline at 1.3338/40 then The Feb 2013 broken trendline and Tech sup at 1.3297/02.
EUD/USD technical analysis chart 9 August 2013
In what are quiet market conditions the tech at the edge of a 50 odd pip move may provide good levels to take profit or get into small positions.
It’s a similar story in cabel where we have not managed to gain a foothold above the 200 dma and Dec 2012 trendline at 1.5531/38. We’re back below and these levels are likely to bring in minor resistance on any move up.
GBP/USD technical analysis chart 9 August 2013
I’m liking the look of support in cable down at the 1.5303/25 region. There’s both 55 & 100 h4ma’s and dma’s. There’s obviously a way to go but if we do get any big moves next week those areas (particularly the dma’s) could provide some decent support.
