forex trading outlook today - How will EUR-USD price action today oct 25 2012 : The single currency is fighting hardly to keep the 1.3000 handle on Thursday, although the markets remains risk biased, ahead of EMU data to be released later. No major events or rumours hovering over the markets so far, as traders look to the US weekly employment report and Durable Good orders to be the main drivers of today's price action.
Next on tap will be the M3 Money Supply and the Private Loan figures in the euro bloc, followed by Italian Wage Inflation and Retail Sales.
At the moment, the cross is posting marginal gains at 1.3001 or +0.01%, with the next resistance at 1.3024 (MA10d) ahead of 1.3084 (high Oct.22) then 1.3125 (Upper Bollinger) and 1.3135 (Down trend lines= from 2011 high).
On the flip side, a dip below 1.2921 (low Oct.24) would clear the way to 1.2892 (low Oct.15) then 1.2836 (MA200d) and 1.2827 (low Oct.11).
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