Monday, May 12, 2014
Ranges in the EUR/USD were very tight today, as volatility declined for the first session of the trading week. The single currency only moved within a 25 pip range from the session low at 1.3750 to the session high of 1.3775.
The next risk event for Euro traders will be at the release of the Eurozone and German ZEW data scheduled for early tomorrow morning, with consensus pointing to a small improvement in sentiment. If the survey is in line with expectations, then this will provide support for the Euro.
In today's webinar, we discussed price action in the EUR/USD, EUR/GBP, and EUR/AUD pair and the technical and fundamental reason's for the sell-off in the common currency. We also identified areas of support and resistance for future trades.
Thursday, April 29, 2014
During today's trading session, we saw the euro weaken across the board on renewed selling interest as month end portfolio flows helped to cap EUR/USD at the 1.3880 resistance zone. The weaker than forecast German Inflation numbers came in at -0.2% month over month for April, which caused the common currency to dive in comparison to the greenback towards the 1.3815 level.
A brief period of short covering saw 1.3830 hit but bears emerged again & the pair continued to sell-off towards a session low of 1.3806, on the back of French President Francis Hollande note about raising the issue concerning the strong Euro after the EU parliament is in place. Bids into 1.3800 & near the 21-DMA kept stops below the 1.3800 psychological support safe for now. Overall, the EUR/USD fell ~73 pips from the session high at 1.3879 to the session low at 1.3806 during today's trading session.
In today's webinar, we discussed price action in the EUR/USD, GBP/USD, and USD/JPY pair and the technical and fundamental reason's for the sell-off in the common currency. We also identified areas of support and resistance for future trades.