Forex News: Friday the pair continued higher above 1.1775 and approached the 50 period Exponential Moving Average despite a weaker than anticipated Eurozone Consumer Price Index. Overall price action was choppy and volatility was relatively low.
Daily FX Analysis
Forex News: Yesterday’s trading session belonged to the bears, on the back of increasing demand for US Dollars and anxiety coming from the German political scene. Key support was broken and the pair reached its lowest point in 5 weeks.
Forex News: Following the German Federal Elections, the Euro depreciated against the US Dollar and the pair had a bearish session yesterday, moving below support. However, price is still confined in a range and a clear trend is not in place.
Forex News: Friday the pair moved higher on the back of better than expected numbers for the European Purchasing Managers’ Indexes but the key resistance at 1.2000 pushed the pair lower and erased all gains, so the session ended close to where it started.
Forex News: The momentum created by the Fed Meeting slowed down yesterday and the pair moved above the psychological level at 1.1900. The session was bullish but bearish pressure is still high.
Forex News: Yesterday’s price action was mostly bullish, due in part to a better than expected German ZEW Economic Sentiment survey (forecast 12.3, actual 17.0). The key resistance at 1.2000 was touched but it pushed price lower almost immediately.
Forex News: The pair remained in a relatively tight range for the most part of yesterday’s trading session and this can be attributed to the lack of major news releases. The European Final CPI came out with the expected value, so the impact was low.