Forex Support and Resistance for This Week

Since late last week GBPUSD has been consolidating, although with an occasional spike up. At the end of last week it jumped to test overhead resistance at 1.6210, and was sharply rejected. This leads us to believe a further break of support around 1.6040 should come sooner rather than later. There is data to move… Read More »

What Will Stop The Euro Falling?

At noon on the currency markets, the European single currency skidded back heavily against the greenback, yielding 0.86% to 1.2581 dollars. And now has lost 8.5% of its value against the run by the Fed. The currency of the European Monetary Union also lost 0.62% against the yen at 138.02, 0.40% against the sterling at… Read More »

ECB Decides To Get Down To Business

As expected, the rebound in the EURUSD has stalled in the $ 1.3150 Wednesday as traders opted for caution before the meeting of the European Central Bank (ECB) this afternoon. The decision of the ECB interest rate is certainly one of the most important events for the euro this week, but it is not certain… Read More »

Euro Stable As ECB Decides What Is Next

The euro-dollar stabilized around 1,320 on Monday after falling late last week amid remarks at Jackson Hole that encouraged traders to favor the greenback versus the euro. The ECB President Mario Draghi acknowledged that expectations about inflation were not satisfactory and that regulators would do everything in their power to restart it. In contrast, Janet… Read More »