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11 Jul 2017

EUR/USD: due a correction towards key 1.1313?

Currently, EUR/USD is trading at 1.1463, up 0.56% on the day, having posted a daily high at 1.1477 and low at 1.1383.

EUR/USD rallied in the US shift after bearish comments from the Board of Governors of the Federal Reserve member Lael Brainard. He suggested that officials should move cautiously on rate hikes to help boost inflation back to target.  

US Dollar drops sharply on dovish Brainard comments

He also explained that the pace, timing & approach of the balance sheet run off by major central banks may have spillover effects on the FX rates and financial conditions.
In respect to EUR/USD, there could be some deeper corrective action to follow though. There is a key 38.2% Fibo of June's 1.1119-1.1445 rise at 1.1313 which was pierced on Jul 5th.  A close below could trigger losses towards 1.1280 & 1.1240 zones. 

EUR/USD levels

Resistance  1.1494 (Daily High May 5 2016) and 1.1574(161.8% 1.0495-906). Support is located at 1.1445 (Jun 29, 30 High) 1.1440 (Daily High Jul 7), 1.1379    (Daily Tenkan), 1.1330 (Daily Low Jul 6), 1.1320 (38.2% of 1.1119 - 1.1445) and 1.1313 (Daily Low Jul 5)

Jul 11, 2017

US: Job openings slip in May - Wells Fargo

Analysts from Wells Fargo, point out that hiring picked up in May, as did quits. They added that increasing turnover has yet to put much...
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Jul 11, 2017

Depressed GBP/JPY falls below key SMA

Depressed GBP/JPY falls below key SMA
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