mercredi 25 mars 2015
EURO Marches Higher
Posted on 05:06 by nice news
The Euro is doing its best to shake that ‘bad boy’ image as it again attempts to climb higher outright versus the dollar. Given the forex markets current run of unpredictable moves, only time will tell if the single unit is capable of taking on yesterday’s key resistance points. From a market positional standpoint, long U.S dollars against almost anything, still remains the dominant reason for the EUR to squeeze higher on its own.
Currency moves have been rather erratic since the Fed surprised investors by indicating that it’s in no rush to hike U.S rates anytime soon. Over the past few sessions, the EUR has managed to record some sharp swings and is currently well clear of its 12-low print recorded last week (€1.0464). The 19-member unit is within striking distance of the psychological handle of €1.1000. This is a massive level for any EUR bull. The failure to settle decisively above €1.1000 would suggest that investors remain nervous that immediate further declines are ‘in the cards’. However, it seems that Euro dollar investors prefer course of action is to wait and see new data confirming that the positive momentum for the U.S remains unaffected.
Currency moves have been rather erratic since the Fed surprised investors by indicating that it’s in no rush to hike U.S rates anytime soon. Over the past few sessions, the EUR has managed to record some sharp swings and is currently well clear of its 12-low print recorded last week (€1.0464). The 19-member unit is within striking distance of the psychological handle of €1.1000. This is a massive level for any EUR bull. The failure to settle decisively above €1.1000 would suggest that investors remain nervous that immediate further declines are ‘in the cards’. However, it seems that Euro dollar investors prefer course of action is to wait and see new data confirming that the positive momentum for the U.S remains unaffected.
EURO Marches Higher
Categories: EURO Marches Higher
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