FXStreet (Łódź) - Jim Langlands from FX Charts notes that the Euro is a little higher despite the mildly more hawkish tone from the FOMC Minutes at which the Fed announced that tapering is likely to finish in October if the economy continues on its current trajectory of ongoing jobs growth and low inflation.
"Technically the short term charts appear to suggest that the Euro could continue to head a bit higher, and given the overwhelmingly bearish view, a short squeeze would not really surprise."
"If it can take out minor Fibo resistance at 1.3650 (61.8% of 1.3700/1.3573) it could then head on to 1.3670 (76.4%/ daily cloud base/200 DMA)."
"Further out, the Euro would find sellers at 1.3700, a break which would see a run up towards 1.3730(100 DMA), which should be solid resistance although a break of this level would head on towards 1.3803 (61.8%)."
"Back to the downside, which looks a little less likely today, bids will be once again seen at 1.3600 (daily Kijun)."
"Below there would suggest a retest of the minor double bottom at around 1.3575 (Thursday low 1.3573)."
"Beyond there would head towards 1.3557 (76.4%) a break of which would head to the greater degree of Fibo support at 1.3518 (38.2% of 1.2754/1.3995) but which looks unlikely to be seen today."
"Given that there is not too much data out today, the Euro may end up close to current levels, but I do suspect that we are going to squeeze a little higher at some stage and for today would use 1.3620/70 as a guide."
ForexAmid the rising economic power of India, the talks of making the Indian currency fully convertible are gaining momentum. We look at the pros and cons.
Forex FundamentalsAs the world's second largest economy, China's challenge to America’s dominance includes a push to make the yuan (RMB), the world’s reserve currency. Whether it can do that now is unclear.
EconomicsOne particular barrier to trade that has received much attention of late and caused delays in negotiations of the TPP is exchange-rate manipulation, by which a country artificially devalues its ...
ForexBreaking news moves forex markets. Here are the top U.S. sites for tracking forex news.
InvestingAccess to financial information has grown with the expansion of digital news. Bloomberg and Thomson Reuters lead the pack, claiming a majority of the business information market.
EconomicsSouth Korea is the latest country to cut interest rates in an attempt to stimulate economic growth.
Forex EducationPeer-to-peer (P2P) currency exchange networks offer a viable and cheaper alternative for buying and selling currencies.
ForexHere is a simple breakdown of how to open an offshore forex account for US-based users, including legal requirements.
EntrepreneurshipA brief overview of the top apps that help forex traders with on time information, charts and more.
Investing BasicsVirtual currency is probably here to stay, but what about Bitcoin specifically? Does it have a first-to-market advantage? What are the risks involved?
- No results found.