Hey!
Anyone have any input to what’s going on with the eur/usd this morning? I first thought it might be Bernanke’s speech,but� or maybe 20 day ma.? I’m wondering if it’s just a major headfake or a real move.
just wondering???
Everything being equal re; global risk & the major economies pricing in their respective financial woes, the intraday oscillations are trading in sync with risk appetite/aversion d-pip.
As (global) equities bounce the buck & yen will tend to get offered, which will allow Euro to appreciate.
You’ve also got investors & major (funds) players repatriating funds into the March 31 book balancing. This will add to the pick up in volatility.
Jocelyn, thanks for the reply! When I read your post I laughed at myself�I thought there might have been a quick simple answer - nothing about forex seems quick & simple these days.
I’m new to forex and the more I learn, the more I find out I don’t know! But you did give me an insight into some of the issues that effect the markets. I didn’t know about the equities /usd/ jpy relationship but I can see how it effects eur/usd and eur/jpy. So much more to learn�
Thank you for the help
I still don’t understand well the link between news and currecy moves.
One day, you can have a negative “housing starts” news in Australia and the Aussie decreasing it’s value like 100 pips in 30 minutes.
The next month, you are waiting for a similar move, because the “housing starts” gives another negative indicator, and surprise, the Aussie reacts in a non-logical way, and increases it’s value by 150 pips in 30 minutes.
News give very random results.
Bulls are still attempting to find a bottom. Technical levels around the 1.2920/50 area now likely to offer resistance so expect two-way action and consolidation underneath.
Data due Thursday: All times EASTERN (-4 GMT)
Resistance 3: 1.2920
Resistance 2: 1.2880
Resistance 1: 1.2820
Latest New York: 1.2857
Support 1: 1.2550/60
Support 2: 1.2480
Support 3: 1.2450
Euro/USD
On the last day Euro/USD decrease a bit and lastly touches the point 1.2872, after that the value of the currency pair to 1.2948 and closed itself at 1.2923. Previous week the European money made an important upward change on the daily analysis but has stopped in the overbought area, which is a signal of potentially descending movement once the price approaches the 1.2990 resistance.
Resistance levels: 1.2990 1.3100 1.3225
Support levels: 1.2820 1.2740 1.2635
Trading range: 1.2920 - 1.2855
Trend: Downward
Sell at 1.2907 SL 1.2937 TP 1.2867