Buy the rumor, sell the fact. At least, that’s what we are seeing in the EUR/USD, that lose over 100 pips in less than an hour and after posting an intraday high of 1.3197 trading now below 1.3100 as European stocks erase daily gains and turned red. The ECB 3 years refinancing auction that exceed expectations and reached 489.2B, was the trigger of the latest fall.
Strong retracement from mentioned high suggests the recent bullish rally may have been just corrective, and the…Continue
Added by Valeria B Bednarik on December 21, 2011 at 1:40pm — No Comments
Corrective Thursday that's it. Dollar is slightly lower against major rivals, as stocks soar on US positive news. But both technically and fundamental, movements will likely remain limited. I will rescue Angela Merkel's words from yesterday, saying there is no easy or fast way out of the European crisis.
Both the EUR/USD, and the GBP/USD are trading below their 4 hours 20 SMA that act as dynamic resistance intraday. Anyway, here is the short term outlook for majors for current…Continue
Added by Valeria B Bednarik on December 15, 2011 at 2:56pm — No Comments
The EUR/USD is being continuously sold against major rivals, either if we have bad news, or no news at all. Is a “just in case” thing now; investors can’t trust no more in the EU authorities, and here we are, breaking below 1.3000 by the time of writing. It won’t be easy to see the common currency regaining the upside beyond some corrective movements in the upcoming weeks; is no longer a matter of sentiment, but of trend.
Quoting around 1.2980, the next obvious big figure is the…Continue
Added by Valeria B Bednarik on December 14, 2011 at 12:15pm — No Comments