Eur/usd last week
After
Fomc meeting minutes, usd weakened significantly. Euro gained the most against usd. After crossing 1.3200, corrective moves have pulled it back below 1.3100 but I think bullish trend is not ended yet.
I am expecting it to touch 1.3400.
Originally posted by SashaAfter
Fomc meeting minutes, usd weakened significantly. Euro gained the most against usd. After crossing 1.3200, corrective moves have pulled it back below 1.3100 but I think bullish trend is not ended yet.I am expecting it to touch 1.3400.
Yes bullish sentiments are very strong. Major resistance lies at 1.3412.
But at the same time retails sales data on monday will be an important factor.
Stick to your rules
Even though it has not touched 1.3400 but it remains bullish this week.
After bernarke's comments on economic recovery and expected policy, usd showed some strength and eur/usdwent below 1.3000 but it remained there for short time and retraced back above 1.3150.
Eur/usd remained rangebound. It was expected to cross key resistance level fo 1.3206. There were some important data figures released from U.S and bernarke's speech too but nothing was able to take it out of rangebound movements. But day traders were able to find many opportunities.
Market sentiments are bullish. Reistance lies at 1.3206 and then 1.3416. Support lies at 1.2994 and then at 1.2755.
Eur/usd has shown good bullish trend today but retraced from resistance zone. It is now trading below 1.3200. Technically trend is still bullish.
Hello Forex friends,
the pair stayed within a tight range and due to the low summer volatility we did see any major movements.
Last week, however, we had a speech from FED’s president Ben Bernanke. This time the market players weren’t as extreme as they were last time. Let’s see how we traded this and many other interesting releases.
ctrustnetwork.com/a174/business-and-investment/forex/articles/weekly-analysis-eur-usd-july-2013-3.html
Dollar remained mixed against eur last week. Weekly change is just one pip. Yesterday eur/usd gained around 100 pips after weak NFP. Longterm trend is still favoring bears.
>Edit -- oops double post
IMO trend is unlcear at the moment due to range-bound movements of eur/usd. Before NFP, I was in favor of bearish move but weaker NFP pushed it back in range-bound region.
Eur/usd retraced from just below 1.3400. Most of the traders were expecting it to reach resistance zone of 1.3415-20.
This pullback was mainly due to investors' sentiments on Fed's asset purchase plans. I think this reason will continue to weigh next week.
Stick to your rules
Yes. Fed's plan will continue to weigh but technically eur/usd is very near to resistance zone so bearish pressure is high as long as it remains below 1.3420.