A little more optimism but cautious. FOMC’s Evan voted against his fellow members opting for additional expansion.
From a technical perspective the price fell below the 200 bar MA on the 5 minute chart below at the 1.3750 level currently and the 38.2% of the move days trading range. The 1.3784 level is the upside resistance now (100 bar MA on the same chart below) for the pair on a bounce. A move above would not be welcomed by shorts.
Volatility continues for the pair. Stocks are up 178 (Dow). No QE3 should disappoint but anything can happen. On the downside watch that 38.2% level at the 1.37535 and the 200 bar MA which is moving toward that level. On a break target the next key levels. The close from yesterday is down at the 1.3700 level. This is another key target on the downside for the pair.
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The EURUSD initially falls on the back of the data. 1.3784 eyed above now
Published 11/02/2011, 03:24 AM
Updated 02/13/2020, 10:25 AM
The EURUSD initially falls on the back of the data. 1.3784 eyed above now
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