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.
Thursday, April 17, 2014
We had another day of whipsaw and range-bound price behavior for the EUR/USD as new headlines, along with US Fundamentals shifted market sentiment throughout the trading session. The EUR/USD pair only moved within a 54 pip range from the session intra-day high at 1.3865 to the intra-day session low at 1.3811. The pair is currently in consolidation above the 1.3800 psychological zone, awaiting a breakout during the Asian trading session. We expect to see a continuation of more light and range-bound activity as we head into the long Easter Holiday weekend.