The euro is against the U.S. dollar and based on the daily charts in the correction phase of a downward trend and has in the first Fibonacci level since 23.6% of the recent downward correction. After the reversal bar last Friday proved a failure signal, succeeded on Monday a re-test the 1.30 mark it, and later in the first overcome with a daily high of $ 1.3050. Able to overcome long term and sets the correction continues, the next possible resistance found mainly on the round course marks 1.31 and $ 1.32, make up the euro at the highly regarded 38.2% Fibonacci level at $ 1.3245 could and here is testing a potential turning point. Impetus for the further price development and increased volatility are possible today with the following industry events:
9:00 FR Purchasing Managers Index January
9:00 FR services index in January
09:30 U.S. Purchasing Managers Index Manuf. Trade in January
09:30 U.S. services index in January
10:00 EU Purchasing Manager Index Manuf. Euro-zone trade in January
10:00 EU Purchasing Manager Index Services euro zone in January
11:00 EU industrial orders November
15:00 BE business climate index in January

EURUSD 24/01/2012 - daily

EURUSD 24/01/2012 - H4

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