10 Jan 2014
EUR/USD is in recovery mode after easy Draghi
FXstreet.com (Moscow) - EUR/USD recovered all the losses suffered after the ECB confirmed long-term easy cycle, and consolidating around 1.3611 at the moment.
US labor market may break the EUR’s neck
EUR/USD had a hard day yesterday, and though the meeting is over, the ramifications of this event will be seen in the pair moves during a long period of time. The key point is that euro has big potential to weaken especially against USD. The ECB made clear that it is ready to fight with subdued price pressures what means easy monetary policy for the nearest two years. As such, the scheduled for today NFP may trigger the wave of sell-off, which may bring the pair to 1.3557 support level. It looks like US labor market keeps growing, and it will help USD to gain popularity.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3595, with support below at 1.3557 (S1), 1.3509 (S2) and 1.3471 (S3), with resistance above at 1.3643 (R1), 1.3681 (R2), and 1.3729 (R3). Hourly Moving Averages are largely bullish, with the 200SMA at 1.3664 and the daily 20EMA bearish at 1.3662. Hourly RSI is neutral at 55.
US labor market may break the EUR’s neck
EUR/USD had a hard day yesterday, and though the meeting is over, the ramifications of this event will be seen in the pair moves during a long period of time. The key point is that euro has big potential to weaken especially against USD. The ECB made clear that it is ready to fight with subdued price pressures what means easy monetary policy for the nearest two years. As such, the scheduled for today NFP may trigger the wave of sell-off, which may bring the pair to 1.3557 support level. It looks like US labor market keeps growing, and it will help USD to gain popularity.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3595, with support below at 1.3557 (S1), 1.3509 (S2) and 1.3471 (S3), with resistance above at 1.3643 (R1), 1.3681 (R2), and 1.3729 (R3). Hourly Moving Averages are largely bullish, with the 200SMA at 1.3664 and the daily 20EMA bearish at 1.3662. Hourly RSI is neutral at 55.