Posts Tagged ‘Euro’
By Joel Kruger, Technical Strategist for DailyFX.com
Euro breaks through key resistance to warn of additional gains
Risk correlated currencies also find renewed bids in the upbeat session
Yen in focus; recent price action somewhat of anomaly
Daily technical studies show severe oversold reading in Yen
Familiar Yen correlations have broken down across the board
Global equities also looking like they [...]
By Joel Kruger, Technical Strategist for DailyFX.com
Euro well bid; many left scratching their heads
On the surface it would seem that the Euro should be lower
Upon deeper investigation there is some fundamental sense to the bounce
Technical studies have not disputed the Euro bounce and still classify as corrective
Still risks to Euro downside ahead, but not just [...]
Prepared by Jamie Saettele, CMT for DailyFX.com
“There is no change for the call for an extension of the EURUSD rally that began at the January low. Fibonacci objectives are near 13600 and intersect with channels in early March.” 13340 and 13295 are supports and the bias is firmly higher above 13186 with the most bullish [...]
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By TraderVox.com
Tradervox.com (Dublin) - Euro has regained the 1.3300 levels after it dipped when Greece passed the PSI deal. After the news of passing a bill, Euro dipped to 1.3270. But now it is trading above 1.3300 levels at 1.3310, up about 0.45% for the day. The support may be seen at 1.3300 and below [...]
EUR/USD: Inability to close below previous key support at 1.3025 leaves the market locked in some multi-day consolidation, with no clear short-term directional bias. At this point, the key levels to watch above and below comes in by 1.3325 and 1.2970 respectively, and a daily close above or below will be required to open the [...]
By Christopher Vecchio, Currency Analyst for Dailyfx.com
Fundamental Headlines
- ECB Plan to Shield Its Greek Bonds May Subordinate Some Holders – Bloomberg
- Germany Seeks to Avoid Two-Step Vote on Greek Aid – Bloomberg
- Inflation Heats Up on Gasoline Prices – Reuters
- Germany, Bank Ease Tensions on Bailout – WSJ
- U.K. Retail Sales Stronger Than Expected – [...]
“History repeats itself, first as tragedy, second as farce.”
-Karl Marx
Current Currency Conundrum: Dollar and Euro dependence is a huge risk. But there is no other choice it seems!
In the last installment of as the world turns towards chaos, aka Currency Currents, I discussed the massive debt problems we face and described why this may lead to below-capacity [...]
By: Joel Kruger, Technical Currency Strategist for DailyFX.com
Greece uncertainty lingers and could start to weigh more heavily
French and Spanish auction results solid but don’t factor
Risks for contagion to other Eurozone nations and global economy
China, commodity bloc and emerging markets at risk for relative underperformance
USD still seen as attractive investment in 2012 even against Yen
Check out [...]
The EURUSD ends Monday on a weak note and is nearing channel support and the Friday low at 13155. A drop below should find support at 13120. The critical level for the larger trend is the 2/6 low at 13026. Pattern is constructive above 13026 towards Fibonacci objectives at 13435 and 13630. 13220 is resistance [...]
60 Minute Bars
The break above end of January / early February consolidation is expected to extend towards the mid 13400s. The 50% retracement of the decline from the October high comes in at 13435 and bullish channel resistance is just above that level. Of note however is the 5 wave structure from the 2/6 low. [...]
