Rather than talking it down Draghi's comments seem to be talking up the EUR or at a minimum condoning the current levels.
PAR17:52:53 GMT - 03/25/2014
1.4000 before 1.3000. Euro had to Touch
1.4000 before It can drop , as S&P needs to Trade above 1800. Risk on big wat.
london red 17:36:04 GMT - 03/25/2014
lots of folk planned on it being a lot lower this year. still might, but not looking likely so you gotta hedge it out anyway...
if above 37 then 10 dma up next.
Mtl JP 17:24:58 GMT - 03/25/2014
just an observation.. took a 8hrs to move from 1.3820 to 1.3750... and just one hour to retrace back
london red 16:49:20 GMT - 03/25/2014
55 hour revisited. if can't cap then 13830/35. on downside 13780 and poss 13792 level of big cme order yesterday
GVI Forex Jay Meisler 16:43:27 GMT - 03/25/2014
Logic 1 News Algos 0
Mtl JP 16:21:39 GMT - 03/25/2014
well looks like some stops / supports on the long side were, one by one, touched. But it is sooo painful to get this euro to puke
NY JM 16:20:18 GMT - 03/25/2014
red, agree and bounced off 1.3750 but would need 1.3775+ to ease the risk, only 1.38+ neutralizes it.
feels like an algo news reaction?
london red 16:18:30 GMT - 03/25/2014
draghi said nothing new, so would think not personally
Mtl JP 16:16:15 GMT - 03/25/2014
euro heading to test the 50dma ?
london red 16:02:49 GMT - 03/25/2014
JP, which nicely leads me onto next possibile playout. euro under 13770 pressures eurgbp but ultimately cable will catch up, so use first fib as a marker to place stop over. but failure to drop sees euro rally and cable to 16570/1.6605 first if/when 16537 taken.
Mtl JP 15:55:50 GMT - 03/25/2014
red seems like the euro is leading .... judging from eurgbp
london red 15:54:48 GMT - 03/25/2014
cable nearest value fibo 16537. next 1.6605. 16470 downside. below there 100 day ma
Mtl JP 15:49:22 GMT - 03/25/2014
Jay priceaction is at 1.378x.. something wrong w/ur post
GVIForex Jay Meisler 15:43:53 GMT - 03/25/2014
Held former day support at 1.3705, now intra-day resistance.
GVI Forex Jay Meisler 15:05:06 GMT - 03/25/2014
Stocks (giving back early gains) and JPY remain in correlation.
EURUSD remains fixated on 1.38
Likewise for GBPUSD 1,65 (note better tone while above it)
Mtl JP 14:54:06 GMT - 03/25/2014
to the downside ... no resistance or no support ?
not sure I understand your intention
dc CB 14:44:49 GMT - 03/25/2014
EOM EOQrtr POMO Ramp all in $$BILLIONS range
Thurs 3.75 - 4.5
Fri 1 -1.25
Short stocks at your own risk
GVI Forex john 14:42:11 GMT - 03/25/2014
The better side to break would be the downside (no resistance). European officials have been jawboning the EUR lower all day today. However markets can be perverse.
Mtl JP 14:36:19 GMT - 03/25/2014
JM maybe we need some outside force to bust out of ranges
- usdyen still dead in the water unwilling to sink as 50 and 100dma suggest it should
- euro stuck between 1.3720 and 1.3965
NY JM 14:21:47 GMT - 03/25/2014
Low was 1.3775 (bottom of the minor support zone)
Caution remains in what is still a bipolar tug-of-war market (EUR weaker, GBP, AUD, CAD firmer)
london red 14:20:16 GMT - 03/25/2014
Possible shs on s&p. hourly shows it well enough. Second shoulder high just done this hour. 1875/6 still key cap.
dc CB 14:11:51 GMT - 03/25/2014
all the more reason for the SnP to tag 1900 by the EOM
Free Money from a re-thunk Yellen
GVI Forex john 14:02:29 GMT - 03/25/2014
all the numbers were weaker than expected with the exception of the Conference Board Survey.
NY JM 13:48:36 GMT - 03/25/2014
Sensing a lot of caution after yesterday's whipsaw but unlike yesterday not much in the way of buy stops above the market.
On downside, key levels is 1.3748/58, blocks 1.3704 (also 50 day mva)
Also keep an eye on the 200 period 4 hour mva, which has helped check the downside since the end of Feb. Currently at 1.3754
Yesterday saw resistance at 1.3775-85 so first level of support today (being tested now).
GVI Forex john 12:39:45 GMT - 03/25/2014
S&P vs. USDJPY in synch on overlay chart. Dax Vs. S&P not so much. Dax improving vs. DAX, but DAX has had a couple of bad days recently.
Case and Shiller Data at the top of the hour is a throw away number. It supposedly is accurate but the data are ancient. IFO analysts are touting the IFO Survey earlier, but they always talk it up. The data did not blow my socks off.
Market starting to shape up as a "risk-on" session heading into U.S. equity trading. We will see how that pans out.
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