Not much reaction from a couple of much-anticipated events in yesterday’s trading. Italian election results which showed no clear majority (and would send Italians to polls again) caused EUR/USD to drop below 1.3050 but it quickly bounced back. The move following Bernanke’s speech during the NY session wasn’t sustained either.
After a very slow Tuesday, EUR/USD found some legs yesterday. It recovered some of its losses as the Italian bond auction turned out very well. Italian Treasury was able to sell its maximum target of 10-year and 5-year bonds. U.S. data were also mostly better than expected, which helped boost risk appetite. There were two nice trades though. You could’ve sold twice at the PDH for some quick pips.
EUR/USD consolidated for the majority of the Asian session. After that, however, the pair exhibited a major drop due to a bout of risk aversion. The 1.3100 held magnificently, and the pair dropped below the 1.3000 handle. It would’ve been an excellent idea to short at 1.3100, as the trade idea went well with the overall risk environment and long-term trend.
Uptrend: Resistance line: 1.3031 Aims: 1.3061 1.3092
Downtrend: Support line: 1.2970 Aims: 1.2939, 1.2908
Bros, did you fall asleep watching EUR/USD yesterday? I kinda did. Not a lot of action since there wasn’t any market moving report released.
Resistance: 1.30615 Aims of bulls: 1.30920, 1.31226
Support: 1.30005 Aims of bears: 1.29700, 1.29395
Pretty dead and no clear direction yesterday, but there were still a couple of range plays. For instance, you could’ve gone long at the test of the PWL, as it held as support four times.
Speculations about further easing from the ECB ahead of the bank’s rate statement sent the euro lower against the dollar.
Man, oh man! Were you short on EUR/USD? I hope not, as the ECB rate decision sent the pair above 1.3000 yesterday. The ECB seems to have changed its stance towards monetary policy, implying that it doesn’t have any commitment to cut rates any time soon. Hmm, time to go long?
managed to get just a few pips out of this rally
Cheers
Pump up the bass! Mario Draghi boosted the euro up the charts like a Macklemore hit in yesterday’s trading. Check it!
EUR/USD consolidated for the most part of the day as traders awaited the result of the U.S. non-farm payrolls. When it actually came out, the pair burst into life and broke out of its tight horizontal range. It fell to the PWL before finding support.
Not much in terms of economic data for EUR/USD yesterday. The euro did manage to rally during the NY session though. Pip Diddy says it might have been because of Mario Draghi’s optimism from last week’s ECB rate statement.
Dead, dead market yesterday. Because of the absence of market-moving reports, EUR/USD simply moved sideways. It found support at the 1.3000 level and topped out at 1.3075.
EUR/USD moved in a tight range during the Tokyo session. During the EU session, the pair burst into life and slowly moved lower. The pair went as low as 1.2923 before closing the New York session at 1.2957. The U.S. Retail Sales report was a major market mover, as it came in better than expected and helped USD gain over EUR.
managed to get 10 pips out of it 
Cheers
The pair skyrocketed following the release of reports from the U.S. Anyone trade the bounce at the previous day low?
