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22 Apr 2014
EUR/USD scratches out every pip higher
FXStreet (Moscow) - EUR/USD climbs up slowly, reaching 1.3810 session high after a bout of selling which had sent it to 1.3784 session low in the European morning.
Draghi is market-moving
The shy attempts of the pair to move higher are only supported by some buyers coming back from Easter holidays. All the bulls that cut their longs before the extended weekend now starting to load their portfolios again. But judging by the extend of the move there are very few euro-bulls in the market. This week we are going to see the ECB’s Draghi speech again, and it could be a market-moving event if any hints on the strength of the euro damaging the economy come up. Thus, the current move higher is a good opportunity to enter the market with shorts. Large sellers’ interest is rumored around 1.3850 with stops above, and the buyers are nesting around 1.3785.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3803, with support below at 1.3776, 1.3758 and 1.3731, with resistance above at 1.3821, 1.3848, and 1.3866. Hourly Moving Averages are mostly bearish, with the 200SMA at 1.3834 and the daily 20EMA neutral at 1.3806. Hourly RSI is bearish at 38.
Draghi is market-moving
The shy attempts of the pair to move higher are only supported by some buyers coming back from Easter holidays. All the bulls that cut their longs before the extended weekend now starting to load their portfolios again. But judging by the extend of the move there are very few euro-bulls in the market. This week we are going to see the ECB’s Draghi speech again, and it could be a market-moving event if any hints on the strength of the euro damaging the economy come up. Thus, the current move higher is a good opportunity to enter the market with shorts. Large sellers’ interest is rumored around 1.3850 with stops above, and the buyers are nesting around 1.3785.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3803, with support below at 1.3776, 1.3758 and 1.3731, with resistance above at 1.3821, 1.3848, and 1.3866. Hourly Moving Averages are mostly bearish, with the 200SMA at 1.3834 and the daily 20EMA neutral at 1.3806. Hourly RSI is bearish at 38.