11 Aug 2015
EUR/USD supply coming in to test bulls commitments
FXStreet (Guatemala) - EUR/USD is currently trading at 1.1026 with a high of 1.1032 and a low of 1.1004.
EUR/USD was probing the 1.1020 resistance after a spike in early US that took the major on to the 1.10 handle in a continuation of the drift from the depths of the 1.09 handle overnight and at the end of the London session. In recent moments, supply is coming in to test the bulls commitments on the 1.10 handle.
The greenback was soft when Lockhart disappointed the bulls and hawks with a less hawkish tone when he was talking at a press conference overnight. This time around, he did not suggest a particular timing for lift-off, only that the time is getting close and the decision will be data dependent.
The 100-day SMA at 1.1035 blocked the euro from climbing higher and we are lacking drivers in Tokyo today awaiting US retails sales later in the week and CPI and FOMC minutes next week. CPI will be keenly monitored g, Fed's Vice Chairman Stanley Fischer suggested that inflation remains weak and Fed's watcher WSJ Jon Hilsenrath explained that weaker inflation could complicate September liftoff putting an air of caution into shorts.
EUR/USD risks mounting to the downside
EUR/USD has been resisted at 1.1035 the 100-day SMA. A break of here opens up the 50-day SMA at the psychological 1.11 figure. Meanwhile, Valeria Bednarik explained that risks are mounting to the downside. "In the 4 hours chart the price is hovering around a bearish 20 SMA, the Momentum indicator heads south below its 100 level, and the RSI indicator hovers around 48, supporting the shorter term view, and maintaining the risk towards the downside."
EUR/USD was probing the 1.1020 resistance after a spike in early US that took the major on to the 1.10 handle in a continuation of the drift from the depths of the 1.09 handle overnight and at the end of the London session. In recent moments, supply is coming in to test the bulls commitments on the 1.10 handle.
The greenback was soft when Lockhart disappointed the bulls and hawks with a less hawkish tone when he was talking at a press conference overnight. This time around, he did not suggest a particular timing for lift-off, only that the time is getting close and the decision will be data dependent.
The 100-day SMA at 1.1035 blocked the euro from climbing higher and we are lacking drivers in Tokyo today awaiting US retails sales later in the week and CPI and FOMC minutes next week. CPI will be keenly monitored g, Fed's Vice Chairman Stanley Fischer suggested that inflation remains weak and Fed's watcher WSJ Jon Hilsenrath explained that weaker inflation could complicate September liftoff putting an air of caution into shorts.
EUR/USD risks mounting to the downside
EUR/USD has been resisted at 1.1035 the 100-day SMA. A break of here opens up the 50-day SMA at the psychological 1.11 figure. Meanwhile, Valeria Bednarik explained that risks are mounting to the downside. "In the 4 hours chart the price is hovering around a bearish 20 SMA, the Momentum indicator heads south below its 100 level, and the RSI indicator hovers around 48, supporting the shorter term view, and maintaining the risk towards the downside."