EUR/USD up and down on Ukrainian news - FXStreet

By FXstreet.com | September 03, 2014 AAA

FXStreet (Łódź) - FXStreet Chief Analyst Valeria Bednarik comments on today's EUR/USD moves, with risk once on and then off again and then back on due to the contradicting news coming from different sources on the Russian-Ukrainian ceasefire deal.

Key quotes

"Early news of a permanent ceasefire between Ukraine and Russia triggering a relief rally among high yielders and pushing EUR/USD up to 1.3550."

"But the news was denied around 30 minutes later, as Putin spokesman denied the cease fire, but a few minutes afterwards it said that Russian President does back the idea of a immediate ceasefire in Ukraine."

"The EUR/USD retraced down to current 1.3140 area, measly 20 pips above pre news levels, with the hourly chart showing price struggling around a bearish 20 SMA and momentum crossing its midline to the upside."

"Chances of a stronger upward move seem limited with all the back and forth in the geopolitical news, and ahead of ECB economic policy decision on Thursday, yet an upward acceleration above mentioned daily high could see price approaching the 1.3190/1.3200 price zone."

"On the other hand, the downside remains protected by the static support at 1.3105, September 2013 monthly low, and it will take a clear break below it to see a bearish extension towards 1.3050/60 price zone.

comments powered by Disqus
Related Forex Analysis
  1. GBP/USD upside remains corrective – Commerzbank
    Forex News

    GBP/USD upside remains corrective – Commerzbank

  2. USD/CHF shows recovery attempts, as it bottomed at 0.9340
    Forex News

    USD/CHF shows recovery attempts, as it bottomed at 0.9340

  3. EUR/USD Daily Outlook - September 19
    Investing

    EUR/USD Daily Outlook - September 19

  4. SEB:  More EUR/USD buying seen above 1.2943 - eFXnews
    Forex News

    SEB: More EUR/USD buying seen above 1.2943 - eFXnews

  5. USD/CAD at Risk for Larger Downside Correction on Sticky Canada CPI
    Forex News

    USD/CAD at Risk for Larger Downside Correction on Sticky Canada CPI

Trading Center