Dang! 1.3350 held like a rock. Did anyone go long?
EurUsd before FOMC : a trap for bears?
What a move! After consolidating for the entire Asian and European trading sessions, EUR/USD broke out to the downside when the FOMC announced its decision on interest rates. While the decision was as expected, the accompanying statement was not and led to a major sell-off. Could’ve sold right when the PWL broke.
The answer to my statement of yesterday is yes … 1.34 on EurUsd was a trap for bulls.
The hawkish FOMC statement allowed the dollar to rally strongly against the euro. Did you happen to short??
It is not yet time to see the dollar below 1.28 against the Euro, the sentiment is still too favorable to the greenback
Major consolidation ahead of the U.S. session. Price basically traded between 1.3250 and the day open. It only broke out when the U.S. session began and fell to the 1.3100 level. No clear trades but the breakout play of 1.3200.
The 200-days moving average of 1.307 rejects EurUsd, but the fall has just begun … stay short.
Even though there were several high profile economic catalysts, EUR/USD moved sideways during the day. It topped out at the PDH and found support somewhere around 1.3065.
The new bankruptcy law ordered by European banks is good news for BTPs and Bonds, but what about the Euro?
Pretty dead market yesterday despite German data exceeding market expectations. Price ranged the entire day, finding some significant support at the 1.3000 region. It would’ve been a good idea to go long at 1.3000 for a scalp play.
Closure of June with a monthly shooting star for EurUsd. In February, a monthly bearish engulfing pattern…it seems that the market has very clear ideas about the outlook of the Euro.
EUR/USD sold off after mixed reports from the U.S. were released. A tad bit of risk aversion kicked in?
Market ticked slightly higher yesterday due to the positive Manufacturing PMIs from Spain and Italy. The euro zone jobs report also bolstered the pair, as it came in with only a 12.1% unemployment rate instead of the 12.3% forecast. Only valid trade seemed to be the long at the WO/DO.
The market was dead initially, but once the EU session began, it started to come to life. It first broke down to the downside due to the weaker-than-expected PMIs. The pair recovered during the New York session though when U.S. data failed to meet forecast.
