ICmarkets

Our take on the Euro's recent moves...

FX:EURUSD   Euro Fx/Đô la Mỹ
278 0 4
Well, where do we start on the EUR/USD? The first thing that sprung to mind upon opening the charts this morning was simply, ‘wow’. Fundamentally, we believe the reason behind yesterday’s rally comes from the recent decline in the stock market. With the ECB’s interest rates close to zero, stock market investors have been buying up Euros to invest in U.S. dollars. Consequent to what some analysts are now labeling ‘Black Monday’, investors are now selling U.S dollars to pay back the Euros they bought, thus pushing the EUR currency higher.

From a technical standpoint, however, the weekly timeframe shows that the market surged close to a whopping 300 pips yesterday! This saw the EUR currency breach weekly supply at 1.1532-1.1278, and just miss connecting with an ignored weekly Quasimodo level at 1.1745. Moving down to the daily timeframe , we can see that this recent buying has broken above two major daily Quasimodo resistance levels (1.1385/1.1447), which hit and extended past a daily supply zone at 1.1678-1.1606.

Slipping down to the 4hr timeframe, it is clear to see that price has, dare we say it, begun to stabilize at the psychological resistance 1.1700, and is now trading below 1.1600 as we write. With regards to trading this pair today, we feel that this market will likely correct itself. However, is this feeling strong enough to place a trade? The short answer to this is, no. It is very difficult to say how this market will react today to yesterday’s volatility . That is why, especially in times of economic uncertainty, it pays to act in your own best interest by staying on the sidelines!
Tiếng Việt
English
English (UK)
English (IN)
Deutsch
Français
Español
Italiano
Polski
Türkçe
Русский
Português
Bahasa Indonesia
Bahasa Melayu
ภาษาไทย
日本語
한국어
简体中文
繁體中文
Trang chủ Sàng lọc cổ phiếu Công cụ tìm kiếm tín hiệu Forex Tìm kiếm tín hiệu Cryptocurrency Lịch kinh tế Cách thức hoạt động Tính năng biểu đồ Điều khoản sử dụng Người điều hành Giải pháp Website & Môi giới Widgets Thư viện biểu đồ chứng khoán Yêu cầu tính năng Blog & Tin tức Hỏi đáp Hỗ trợ & Wiki Twitter
Hồ sơ Tùy chỉnh hồ sơ Tài khoản và Tính phí Tickets Hỗ trợ của tôi Liên hệ hỗ trợ Các ý tưởng đã xuất bản Người theo dõi Đang theo dõi Tin nhắn riêng Trò chuyện Đăng xuất