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20 May 2015
EUR/USD picking up offers sub key 20 DMA's
FXStreet (Guatemala) - EUR/USD, trading at 1.1135 currently having posted a low of 1.1112, is on the offer in Tokyo and full Asian trading.
The moves are in fellowship of the overnight action that had the single currency to its knees when the Euro moved over 1.5% on ECB member Benoit Coeure. the council member had pre-told a London group of bankers and hedge-fund managers that the Central Bank will front load its asset-buying program before a summer lull. When this finally hit the market the Euro was flung to the walls and desks scrambled for an exit.
Technically, we are through the 1.1160 congestion and the 20 day ma while the next phase of key support may come in at 1.1052 being the 26th March highs guarding the 1.10125 support line. "A drop below here is needed to negate upside pressure and focus attention on the downside", as suggested by Karen jones, chief analyst at Commerzbank.
The moves are in fellowship of the overnight action that had the single currency to its knees when the Euro moved over 1.5% on ECB member Benoit Coeure. the council member had pre-told a London group of bankers and hedge-fund managers that the Central Bank will front load its asset-buying program before a summer lull. When this finally hit the market the Euro was flung to the walls and desks scrambled for an exit.
Technically, we are through the 1.1160 congestion and the 20 day ma while the next phase of key support may come in at 1.1052 being the 26th March highs guarding the 1.10125 support line. "A drop below here is needed to negate upside pressure and focus attention on the downside", as suggested by Karen jones, chief analyst at Commerzbank.