14 Oct 2013
EUR/USD higher as the uncertainty in the United States political stalemate continues
FXstreet.com (Athens) – The EUR/USD opened lower with a gap on Sunday, but since the kick off of the early trading Asian session has been trading upwards, as the greenback is seriously wounded due to the US fiscal issues “jitters.”
EUR/USD sits on the fence as the big Thursday “debt -ceiling” deadlock day is looming
The EUR/USD has been trading upwards since the kick off of the start of the Asian trading session after having opened lower with a gap. Today ECB’s Noyer through “Le Figaro newspaper” mentioned that a US debt “accident” could have violent results in the global growth, as well as that “Europe could take longer to end its accommodative monetary policy.” While today we amidst in holidays in Canada, Japan and to the most markets of the US, we are also amidst the Euro group meeting as well as ahead of the EcoFin conference. Elaborating on, the Euro land Finance Ministers are anticipated to meet at 13:00 GMT hours, with the agenda to focus on the exit of Spain, Ireland, Portugal from their IMF-Euro land programs, as well as on the Greece progress to the fiscal reforms.
Technical Outlook on EUR/USD
Karen Jones, Head Technical Analyst at Commerzbank mentions that the “EUR/USD’s slide ended at 1.3486 last week and is back on track to reach the 1.3607 October 8 high, a daily close above which would be bullish and put the current October high at 1.3646 back on the map. For now unexpected failure at 1.3486 would put the August high at 1.3453 back on the cards. This should act as the break down point to the three month channel support line at 1.3316.”
EUR/USD sits on the fence as the big Thursday “debt -ceiling” deadlock day is looming
The EUR/USD has been trading upwards since the kick off of the start of the Asian trading session after having opened lower with a gap. Today ECB’s Noyer through “Le Figaro newspaper” mentioned that a US debt “accident” could have violent results in the global growth, as well as that “Europe could take longer to end its accommodative monetary policy.” While today we amidst in holidays in Canada, Japan and to the most markets of the US, we are also amidst the Euro group meeting as well as ahead of the EcoFin conference. Elaborating on, the Euro land Finance Ministers are anticipated to meet at 13:00 GMT hours, with the agenda to focus on the exit of Spain, Ireland, Portugal from their IMF-Euro land programs, as well as on the Greece progress to the fiscal reforms.
Technical Outlook on EUR/USD
Karen Jones, Head Technical Analyst at Commerzbank mentions that the “EUR/USD’s slide ended at 1.3486 last week and is back on track to reach the 1.3607 October 8 high, a daily close above which would be bullish and put the current October high at 1.3646 back on the map. For now unexpected failure at 1.3486 would put the August high at 1.3453 back on the cards. This should act as the break down point to the three month channel support line at 1.3316.”