It seems that they are going to do a simple case of ranging today. Bulls that are not bulls yet
I believe that, at this point, May 22[SUP]nd[/SUP] will be a decisive date for EurUsd. On that date, Bernanke will speak on the state of the economy and the minutes of the Fed will be published.
Yesterday, we saw great movement on EURUSD in just one hour but it was very difficult to trade because price went high and then just sinked almost 130 pips. This news trading is difficult.
In my own opinion, the EURUSD has failed to yield to gravity, which means it could be ready to start a new lease of a bullish bias.
EURO seems to be in a ranging period
I think that EurUsd will difficultly try to break downward 1.2770 until June 6[SUP]th[/SUP], when the market will be expecting a lot from the ECB.
Beige Book and the ECB: between today and tomorrow, markets will take a position in a decisive manner.
Bernanke will leave the Fed in January 2014, and this suggests that perhaps the monetary policy of the Fed will not change until that date.
With the kind of pressure (political) he is having now, anything can happen
This pair plummeted seriously yesterday and closed below the support line at 1.3300. All the bullish gains for this week have been forfeited, plus the gains for the last week would also be forfeited. There is a new ‘buy’ signal on the chart