The Federal Reserve is likely to raise interest rates two or three times this year, said one of the senior officials of the Federal Reserve on Monday, reinforcing expectations of tighter monetary policy of the central bank against the backdrop of the US economic recovery after the winter brake.
victoriajensen
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EUR/USD broke below the support at 1.1160. The move to the downside continues and its next immediate target is 1.1100.
fxstrategist
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Eurusd
The EURUSD makes another leg down and breaks below the 200 day EMA. The pair may continue dropping towards the 1.1100 level. The 1.1200 level may act as resistance in case of a pullback.
The EURUSD makes another leg down and breaks below the 200 day EMA. The pair may continue dropping towards the 1.1100 level. The 1.1200 level may act as resistance in case of a pullback.
Yesterday EURUSD fell with a wide range and closed near the low of the day also managing to close below the previous day range, suggesting a strong bearish momentum.
The pair is trading below the 10 and the 50-day moving averages that are acting as dynamic resistances although still trading above the 200-day moving average that is acting as a dynamic support.
The key levels to watch are: The 50-day moving average at 1.1335 (resistance), the 10-day moving average at 1.1244 (resistance), a daily resistance at 1.1237, a swing low at 1.1141 (support) and a daily support at 1.1097.
The pair is trading below the 10 and the 50-day moving averages that are acting as dynamic resistances although still trading above the 200-day moving average that is acting as a dynamic support.
The key levels to watch are: The 50-day moving average at 1.1335 (resistance), the 10-day moving average at 1.1244 (resistance), a daily resistance at 1.1237, a swing low at 1.1141 (support) and a daily support at 1.1097.
Euro/dollar was moving lower yesterday, bottomed at 1.1132. The price closed below the 200 EMA, suggesting a potential bearish view. Trading signals remain bearish for testing the lower line of the bullish channel, localized around 1.1100 - 1.1050, which is the key support at this stage. A clear break below the bullish channel could give us another confirmation of the continuation of the bearish scenario testing 1.0800. Immediate resistance is seen at 1.1180, whose breakthrough could lead price to neutral zone testing 1.1225 - 1.1275.
On Tuesday, the US dollar registered an increase against most of its major rivals after hopes of market participants to increase interest rates in the US have strengthened. EUR/USD dropped to its lowest levels in nearly a month, as the last trading session the currency pair traded in a range from 1.1226 to 1.1132, ending the day at 1.1140.
On Wednesday, the dollar is stable at two-month highs against other major currencies as expectations the US base rate rise in June, continues to provide significant support to the US currency. Demand for the dollar remains after US data on Tuesday that showed that the sale of real estate in the primary market rose in April to its highest level since early 2008. The EUR/USD gained 0.12% to 1.1153, retreating from a two-month lows the previous session of 1.1132. The euro strengthened after Greece reached an agreement with its creditors and unlock a new tranche of bailout funds in the amount of € 10 billion, reducing the pressure on debt burden and easing concerns over the eurozone debt crisis.
The euro/dollar is calm after yesterday's sales. On Wednesday, there aren't much news, almost no comments, and the market is resting before the next wave of volatility. The main trades in the euro/dollar go around the 1.1150 mark, as in the morning.
Boring day, indeed!
victoriajensen
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EUR/USD is consolidating between 1.1150 and 1.1120, it's almost impossible to trade it unless you're scalping. I hope Janet Yellen's speech on Friday will end the range.
The German Ifo upbeat couldn’t push euro higher. The battle for conquering 1.1250 most probably will lead to backtrack and persuit of 1.1100 (200-day MA).
