Eurusd/gbpusd - page 1745
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Long level resistance/support 1.2750 has held. EURUSD is right at the long term bearish channel support. We can expect some hesitation at these levels (even some mild retracement during the day). All in all the bearish trend that all are talking about for Euro is confirmed once again
Waiting now to see if they go for a double bottom today
Waiting now to see if they go for a double bottom today
Probably they will
After the FOMC news yesterday EUR/USD dropped significantly without even reaching the resistance at 1.2830. It will likely continue to descent with target 1.2500, which is a pretty strong support level.
Well, the retracement was made. With statements like "we need more women in economics and we are doing it effectively for some time" (as if sex is what counts in economics now and not the knowledge regardless of the sex) Yellen did what is known for quite some time : FED has no idea what to do. Verbal easing at its best. One day a FOMC statement and then next day quickly undoing what the statement did (otherwise it would become a commitment for FED)
At least we know that after big statements there will be equally silly counter-statements and the trading community reacted as today. All that was predictable but all that was predictable in Bernanke times too and it brought no good to anybody
Well, the retracement was made. With statements like "we need more women in economics and we are doing it effectively for some time" (as if sex is what counts in economics now and not the knowledge regardless of the sex) Yellen did what is known for quite some time : FED has no idea what to do. Verbal easing at its best. One day a FOMC statement and then next day quickly undoing what the statement did (otherwise it would become a commitment for FED) At least we know that after big statements there will be equally silly counter-statements and the trading community reacted as today. All that was predictable but all that was predictable in Bernanke times too and it brought no good to anybody
more wine, more women and more cake
actually not sure shes said more wine yet, although could be in the next FED speech
i agree there ought to be more women in Finance, preferably Hot women
i'd vote for Gemma Godfrey for the next FED chair
very popular in London finance, for obvious reasons
Waiting now to see if they go for a double bottom today
Well, no double bottom
Should have pay attention that Yellen is going to speak today
Well, no double bottom Should have pay attention that Yellen is going to speak today
Yep. The usual "talk it down" happened. FED can not decide : if they want to brag (and make dollar stronger) or they want what is better for US (not so strong dollar and good exports). All in all, a complete mess
Long term bearish trend continues. Support is holding. No changes expected today
EUR/USD keeps falling and it will likely reach 1.2500. What happens next is up for debate, however. Will it form a double bottom and bounce back or will it break below the support at 1.2500 and head even lower? Personally, I still think that the long term target is 1.2200, perhaps even 1.2000, but I don't think anything can be said for certain before we see what happens around the 1.2500 level first.