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EUR/USD

matibea Posted 4 Apr.  in #Trader's blog
On Tuesday, the EUR/USD pair finally broke down of its 3-day-old trading range and dropped to a near 2-week low level of 1.2254 amid resurgent US Dollar demand. The selling pressure abated during the Asian session on Wednesday, with the pair bouncing back to 1.2285-90 support turned resistance as the focus now shifts back to the economic fundamentals. Investors today will confront the preliminary release of latest Euro-zone consumer inflation figures, which is expected to show reviving inflation…
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GBP /USD

matibea Posted 3 Apr.  in #Trader's blog
"UK Data showed slightly better than expected momentum in the manufacturing sector in Mar, with the PMI index holding at 55.1, little changed form 55.0 in Feb but better than the slight deceleration to 54.7 expected.""Sterling seasonality is positive in Apr, reflecting the typical decline in the USD that grips the markets around this time of the year as well as UK-centric factors such as financial inflows at the start of the financial year. ""The GBP’s relatively strong performance in Q1 may sof…
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EUR/USD

matibea Posted 2 Apr.  in #Trader's blog
From a technical perspective, the pair remains confined within a broader trading range held since mid-January and hence, it would be prudent to wait for a clear breakthrough before positioning for any meaningful trajectory. Meanwhile, the 1.2285 area now seems to have emerged as an immediate support, which if broken is likely to accelerate the slide towards 1.2240 horizontal support before the pair eventually heads towards testing the 2-1/2-month-old trading range support near the 1.2200-1.2180 …
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