EUR/USD Technical Strategy: FlatEuro finds resistance above 1.14 The Euro reversed sharply lower against the US Dollar, producing the largest two-day losing streak in nearly four monthsafter finding resistance above the 1.14 figure. Prices have now erased over half of the advance triggered by May’s soft US jobs data. From here, a daily close below support at 1.1217, the 38.2% Fibonacci expansion, opens the door for a test ...
The EUR/USD is trading flat this morning despite a series of news events beating expectations. First EUR German Industrial Production numbers printed better than expected at .8% (MoM) (APR). This was then followed by EUR Euro-Zone Household Consumption printing higher at .6%. However, despite these numbers, the EUR/USD is poised to close the day inside of yesterday’s high and low, with the formation of an inside bar. As prices consolidate, ...
US Dollar Forecast – Will Yellen Step in to Stem Dollar’s Tumble as June Hike Vanishes? There are two scenarios for the week ahead: either the market fully acknowledges that the Fed is hamstrung and cannot hike or Chairwoman Janet Yellen spurs a dramatic Dollar rally. European Euro Forecast - Patience the Key for the ECB; but Will the Bazooka Hit its Target? There was a European Central Bank meeting this past Thursday, ...
Trading the News: U.S. Non-Farm Payrolls A 160K expansion in U.S. Non-Farm Payrolls (NFP) paired with a downtick in the jobless rate may boost the appeal of the greenback and spur a larger pullback in EUR/USD as it fuels expectations for an imminent Fed rate-hike. What’s Expected: Why Is This Event Important: The Federal Open Market Committee (FOMC) may implement higher borrowing-costs over ...
Trading the News: European Central Bank (ECB) Interest Rate Decision The European Central Bank (ECB) interest rate decision may fail to generate a meaningful market reaction as the Governing Council is widely anticipated to retain the zero-interest rate policy (ZIRP) in June, but the fresh batch of central bank rhetoric may drag on EUR/USD should President Mario Draghi and Co. keep the door open to implement more non-standard measures. What’s Expected: ...
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