Back
21 Apr 2016
EUR/USD weak, hovering below 1.1300
EUR/USD stabilized after volatile moments following the European Central Bank decision and Draghi’s press conference. The pair that dropped sharply from 1.1397 to 1.1268. From the lows, it turned to the upside but found resistance at 1.1310 and fell back under 1.1300.
The euro looks weak and is moving toward daily lows as the US dollar gains momentum across the board. Currently it trades at 1.1285/90, marginally lower for the day and more than a hundred pips below daily highs.
Stocks in the US accelerated the decline during the last hour. The Dow Jones was falling 0.70% while the Nasdaq drooped 0.23%. Gold is falling modestly but remains under $1,250/oz after hitting earlier $1,270.
EUR/USD flat but…
The pair holds flat for the day but it is a sign of weakens after the sharp reversal. It is also confirming yesterday’s losses. Also the price is back below the 20-day moving average.
If it remains weak a test of 1.1230 (last week lows) seems possible while the upside continues to be limited below 1.1400.
The euro looks weak and is moving toward daily lows as the US dollar gains momentum across the board. Currently it trades at 1.1285/90, marginally lower for the day and more than a hundred pips below daily highs.
Stocks in the US accelerated the decline during the last hour. The Dow Jones was falling 0.70% while the Nasdaq drooped 0.23%. Gold is falling modestly but remains under $1,250/oz after hitting earlier $1,270.
EUR/USD flat but…
The pair holds flat for the day but it is a sign of weakens after the sharp reversal. It is also confirming yesterday’s losses. Also the price is back below the 20-day moving average.
If it remains weak a test of 1.1230 (last week lows) seems possible while the upside continues to be limited below 1.1400.