EUR/USD Current price: 1.2670 View Live Chart for the EUR/USD Dollar is under mild pressure across the board, with the EUR/USD breaking its 30 pips range to the upside on news EU draft doc says 25 banks have shown a capital shortfall in the ECB stress tests. Slightly above expected, the pair lost 30 pips right after the news, but jumped quickly afterwards, as the news seem to have bring some relief over the economic situation in the EZ. Market players have been on hold for most of the day, as
Dollar weak, euro weaker… Yesterday, the news flow was euro negative. Low inflation in the UK and in Sweden, a poor ZEW investor confidence and weak EMU production data all weighed on the euro. EUR/USD dropped to the mid 1.26 area. Euro weakness rather than dollar strength was the name of the game. The dollar tried to regain the 107 level against yen as the equity sell-off slowed down. Overnight, Asian equities show moderate gains, even as the price action in the US was disappointing. China
EURUSD bear trend extension theme into October We have stressed in client reports through latter September that “we still aim lower into latter September, for an important cluster of support from the 2012-14 retracement at 1.2785 and key 2013 lows 1.2765 and 1.2745” and the push through this key support area reinforces a still more negative theme. We now see bias to a significant 2012 weekly swing low at 1.2662. A break here then aims for further long term targets at 1.2502 and 1.2460. We look
Dear friends,Miss Dukascopy 2014 is now officially over. Let us watch the stream from the final Geneva Forex Event together.A small spoiler for Miss Dukascopy 2015: We'll send every month's winner to Geneva Cheers to Maria_R and happy holidays to everybody Stream starts at 18:30 GMT...
MFX Markets's insight:
"Miss Dukascopy 2014 inauguration: LIVE STREAM" by Nick_T in Dukascopy Forex Community
"I’ll be honest: These speeches get more and more enjoyable as time goes by because the economic outlook keeps getting better and better. Instead of gloom and doom with a scattering of hopeful notes, things are now pretty upbeat, with only a couple of standard economist’s caveats thrown in.... So the message is that things are getting better. We’re on track to end our asset purchases and we’re preparing for the time the economy can sustain an end to accommodation. We’ll want to see improvements in unemployment, wages, and inflation, and we’ll be driven by the data. But all in all, it’s good news—with just a few of those requisite caveats thrown in."
MFX Markets's insight:
"The Economic Outlook Keeps Getting Better And Better" Says Fed President Who Last Week Unveiled QE4 | Zero Hedge
The week comes to an end with the EUR/USD trading at its lowest level since June last year, having been pretty much falling steadily since posting a high around 1.3700 early July: the weekly chart shows one red candle after the other, with some small consolidations in between. It also shows RSI at 21, signaling extreme oversold readings. What is not pointing out yet is the possibility of an upward correction, as indicators maintain a healthy bearish slope. The rally is indeed
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