Sunday December 11, 2016 - 01:28:34 GMT
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Is the EURUSD Headed for 1.05 or Else?
With EURUSD failing to hold 1.08+ after the ECB delivered on a taper but offset it with tweaks to its asset buys and dovish talk from Draghi. This sets the stage for a key event week where the focus will be on what the FOMC statement and Chair Yellen say rather than what the Fed does as a 25bp rate hike is widely expected. Given the way the market reacts to news, what is for sure is the forex market will move on the FOMC.
See below for selected posts from the Forex Forum on the EURUSD outlook.
NY JM 01:16:15 GMT - 12/11/2016
If it wasn't for the FOMC meeting this would normally be the start of pre-XMAS book squaring by mid-week. In any case we are all looking at the same levels, 1.0505 (and 1.0500) and 1.0459 on the downside while the upside is far from key levels so use 1,0600 and 1.0630 as resistance with 1.0580 standing in front of it. We will see how much firepower is in the market after the wide swings seen at the start and towards the end of last week. We will also see whether the EURUSD needs a retracement before attacking 1.05 again.
london red 18:11:31 GMT - 12/09/2016
yes well done ks. now that weve been to 105 to 1.0850 and now back to 105. its a must break for usd. cannot see anything but, however if doesn't, means 10850 and v likely 110. nothing fundamental suggests so however, but if cannot go down, will go up. big wk next week
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