EUR/USD traded sideways initially but when the news came out that Cyprus needed an additional 6 billion EUR, everything just went bonkers and traders sought the safety of the Greenback. The pair, as a result, dropped like a rock during the U.S. session.
The euro pared the losses it incurred earlier on in the day after the U.S. retail sales report came in worse than expected.
Boo yeah! The euro rallied in yesterday’s trading as risk appetite picked up. Support at 1.3050 held and a bullish divergence materialized too. Did any of y’all catch it?
EUR/USD consolidated for the majority of the Asian and morning EU trading sessions due to the lack of market moving events. However, when the U.S. session began, risk aversion swung in full and resulted in a stronger dollar.
Support at the day and weekly open prices held all throughout the day. Going long around 1.3030 would have been a really good idea!
It was a relatively quiet Friday. EUR/USD generally moved horizontally, finding support around the DO and resistance at the PWH. The only solid setup I see here is the short at the PWL as price diverged with the Stochastic. You could’ve sold there and aimed for the DO.
Only a couple of second-tier reports were released yesterday. From one forex trading homie to another, I think EUR/USD’s price action dictated by market sentiment.
EUR/USD was generally dead yesterday, with the exception of the time when the euro zone PMIs were released. When they came out and showed weaker-than-expected readings, the pair plummeted to the 1.3000 level before stalling. Would’ve been a good idea to short at the WO.
More great informative charts from BigP look and learn what moves the market people
Talk about a crazy day! EUR/USD still rallied despite a disappoointing German Ifo figure. What the heck!
With no hard-hitting economic data, EUR/USD traded two significant inflection points. The pair found resistance at the WO when the U.S. Initial Jobless Claims smashed expectations and showed that the number of people who claimed for unemployment insurance fell from week prior. The pair found support at the PWL, as price consolidated there.
The low volatility of EurUsd hides all the expectations on the Ecb meeting of Thursday. The cut of rates is already assumed, but attention to 1.2750! Below this level, a very dangerous bearish head and shoulder will be formalized on EurUsd.
Attention to the trap for bulls…this might be one of these.
Pretty choppy day yesterday, as most European banks were out on holiday. Anyone see a good trade here? I sure can’t!
The pound got dragged down along with the euro following the ECB’s rate cut. 1.3200 held like a charm though!
The rates cut by the ECB and the data on unemployment have not created volatility on EurUsd. Still looking for something able to move the market…
Just relax, Draghi will be back on Monday with another dose of chants and be sure that this will have a long term impact
I agree with you, Draghi and Bernanke are right now the only ones who can make EurUsd move…