The price manages to hold the 100Dsma recovers 10$ from the earlier intraday lows. On the four-hour chart, the RSI has been developing positive divergence. On the daily chart, earlier swing low finds at 1208.00 levels.
Moving averages: 100Dsma&100wema finds at 1212.00 levels.
On the daily chart, earlier swing low finds at 1208.00 and the psychological support finds at 1200.00 levels.
Ahead of the U.S first quarter revised GDP Yellen speech weekly support finds between 1218.00,1200.00 and 1190.00. The monthly support finds at 1180.00 levels.
On yesterday’s article, we forecast buying with targets 1228.00, 1230.00 and in the extreme case 1233.00 likely. The price made high at 1234.00 and changed the direction.
Trading support finds at 1217.00, 1211.00 and 1208.00
Resistance seems at 1224.00, 1230.00 and 1235.00
What’s on today?
Prelim GDP q/q 2nd estimate,May revised UoM Consumer Sentiment, and Fed Chair Yellen Speaks.
Bloomberg survey of economists expected a median increase of 0.7%, the former value increased by 1.4%. The initial value of the data two-year low, also the third consecutive year the United States-than-expected GDP data in the open reported by Wall Street Knowledge.