4 Apr 2014
EUR/USD: today’s the day – FXStreet
FXStreet (Edinburgh) - Currency Analyst Valeria Bednarik at FXStreet remarks the EUR’s wait-and-see stance ahead of the key US Payrolls.
Key Quotes
“The EUR/USD hangs by a thread right above the 1.3700 figure, where it stands ever since Draghi latest speech, announcing the ECB has discussed alternative measures to fight low inflation”.
“Technically, the pair is quite close to a couple of key major supports, and if today’s US employment figures are able to pull price below them, the ruling bullish trend will be compromised: at 1.3685, the pair has a long term ascendant trend line coming from 1.2755, past July 2013 monthly low, while the 61.8% retracement of the latest bullish run stands at 1.3660”.
Key Quotes
“The EUR/USD hangs by a thread right above the 1.3700 figure, where it stands ever since Draghi latest speech, announcing the ECB has discussed alternative measures to fight low inflation”.
“Technically, the pair is quite close to a couple of key major supports, and if today’s US employment figures are able to pull price below them, the ruling bullish trend will be compromised: at 1.3685, the pair has a long term ascendant trend line coming from 1.2755, past July 2013 monthly low, while the 61.8% retracement of the latest bullish run stands at 1.3660”.