13 Jul 2015
Forex Top Movers: A Dollar Kingdom in a Euro tragedy
FXStreet (Cocoa) - Greece capitulated on Germany’s demands and the deal was reached earlier Monday. Then the euro started to fall and the Dollar emerged as the King in the Greece + Forex + Euro tragedy.
The Dollar is advancing across the table mainly fueled by a weak Euro. The EUR/USD fell to trade below 1.1000 briefly; GBP/USD lost the 1.5500 handle; the USD/JPY is consolidating highs near to 123.50; while the USD/CAD failed at 1.2790 and it's back at 1.2730.
EUR/USD Forecast
The EUR/USD collapsed 200 pips from today's highs at 1.1190 to lows of 1.0990. Currently, EUR/USD is trading at 1.1005, down 1.43% on the day, having posted a daily high at 1.1198 and low at 1.0996.
As reported earlier, there are two lines in the sand for bullish cases in DXY and EUR/USD. The US Dollar index must hold Thursday's low at 95.50; while the EUR/USD must hold the 1.0990 area for both to continue advancing to the upside.
According to the EUR/USD forecast Poll, the EUR/USD will remain under pressure with the 1.0600 eyed: "the common currency may see a relief rally next week, but long term, market's sentiment is still looking for a downward continuation."
Top movers:
To the upside, big movers are USD/CZK (+1.74% to 24.618); GBP/CHF (+1.49% to 1.4702); USD/CHF (+1.27% to 0.9492). To the downside, top losers are EUR/USD (-1.31% to 1.1008); EUR/GBP (1.10% to 0.7106); EUR/JPY (0.86% to 135.84).
The Dollar is advancing across the table mainly fueled by a weak Euro. The EUR/USD fell to trade below 1.1000 briefly; GBP/USD lost the 1.5500 handle; the USD/JPY is consolidating highs near to 123.50; while the USD/CAD failed at 1.2790 and it's back at 1.2730.
EUR/USD Forecast
The EUR/USD collapsed 200 pips from today's highs at 1.1190 to lows of 1.0990. Currently, EUR/USD is trading at 1.1005, down 1.43% on the day, having posted a daily high at 1.1198 and low at 1.0996.
As reported earlier, there are two lines in the sand for bullish cases in DXY and EUR/USD. The US Dollar index must hold Thursday's low at 95.50; while the EUR/USD must hold the 1.0990 area for both to continue advancing to the upside.
According to the EUR/USD forecast Poll, the EUR/USD will remain under pressure with the 1.0600 eyed: "the common currency may see a relief rally next week, but long term, market's sentiment is still looking for a downward continuation."
Top movers:
To the upside, big movers are USD/CZK (+1.74% to 24.618); GBP/CHF (+1.49% to 1.4702); USD/CHF (+1.27% to 0.9492). To the downside, top losers are EUR/USD (-1.31% to 1.1008); EUR/GBP (1.10% to 0.7106); EUR/JPY (0.86% to 135.84).