The EURUSD stays calm simply waiting for the FED
Yesterday the EURUSD tested the 1.2988 key level and bounced off it but closed above the 10 day moving average. The pair looks like is developing a bearish flag pattern but without any confirmation yet.
Price Action on E/U and G/U for 3 days are pretty confusing and choppy. The worst is on E/U, having a big big ranging box. G/U seems to go for further above after breaking out from the ranging boxes, but I will still keep away from both of them.
the eyes today on the eurusd and waiting for the FED.
The USD has been trading mixed.
Higher against CHF and SEK and lower against GBP and CAD and unchanged versus the JPY, NZD, EUR, AUD and NOK.
The GBP depreciated even after the minutes of the last policy meeting of the Bank of England have revealed that the same two members voted for a 25 basis points interest rate, despite the referendum in Scotland.
The CAD has soared after the Governor of the Bank of Canada, have said, he was cautiously optimistic about the future of exports to economic recovery. Stated that the Central Bank does not attempt to manipulate the value of the Canadian currency.
EUR/USD is exceedingly calm and the consolidation continues, but that is like the calm before the storm. Personally I will wait for Yellen’s speech later today before doing anything.
I agree with you, victoriajensen. Eur/usd rather calm today giving that we had Europe zone core CPI increase to 0.9%. I’m also waiting for Yellen speech.
the market is reacting very strong with yellen’s speech specially after saying that Europe’s inflation is one of the global crisis the world face now
And we still have tomorrow, expecting another storm.
So I went short with one unit at 1.2906 during the Wednesday session. Stop is 1.2998, just over the three-day high. In the early hours of the Thursday session we have broken into new low territory. We are stretching into a move with so much momentum that we are moving close to 800 pips below the 200-day moving average.
EURUSD fell after initially trying to rally during yesterday session, sending this market just below the 1.29 level. After the Fed monetary policy statement the Euro lost value against the Dollar, but could not break down below the 1.28 key level. A move above the 1.30 level is extraordinarily bullish, just as a move below the 1.28 level would be extraordinarily bearish.
EUR/USD reacted quite strongly to Yellen’s speech - it fell over 100 pips and broke below the support at 1.2860. It’s in pullback now but I think it will keep falling at least until it reaches 1.2750 - 1.2700. I wonder whether it can go even lower though.
Down trend that what i see for the eurusd today.
Dollar traded at lower against almost all G10 peers.
The market is looking forward to the referendum in Scotland.
The market positioning is also very much in favor of a “no”.
This means that the market reaction to a “no” would be much smaller than the reaction to “yes”, that would probably be dramatic.
yesterday was a great day on the EUR/USD easy 100 pip drop, and tomorrow will start the second round after the referendum decision.
EURUSD broke higher during the course of yesterday session, bouncing off from 1.2835 the lows from the Wednesday session. This market is in a consolidation area and therefore somewhere closer to the 1.30 level we will find enough resistance to turn things back around and start selling. If this area starts to show real selling pressure, do not hesitate to take a short-term position to the downside. On the other hand, if the pair gets above the 1.30 level, we should see this market heading to the 1.32 level given enough time.
Traders are shorting in anticipation of Draghi speech next Monday.
He will announce the ABS program details starting 02.10
I’ve heard that a lower exchange rate is supposed to make ABS more attractive. It would be good also for target inflation to run south a bit.
EUR / USD moved higher on Thursday after finding support again near the barrier of 1.2680 (S1).
The rate remains within the range between the barrier and the psychological resistance of 1.3000 (R1).
At the short term trend is neutral but the overall picture remains negative.
The pricing structure remains in lower maximum and minimum moving averages below the 50 and 200 days.
Is expected a decisive fall below the 1.2860 line (S1) in the near future to make way for the main support zone of 1.2760 (S2).
Yesterday I was quite convinced that once the pullback was over EUR/USD would begin descending again, and indeed, it reached 1.2930, formed a doji candlestick in the 4 hour filter chart and started falling. Next target is, I think, 1.2700. That said, I think we should watch it carefully in case it forms a double bottom here.
Honestly I don’t know what triggered the bearish trend even to break 1.2850