Euro Maintains Range From Previous Month, British Pound Little Changed Overnight

The EUR/USD pulled back from the high (1.3701) during the European trade as investors scaled back their appetite for risk, and the single-currency could face increased selling pressures going into the North American session as equity futures foreshadow a lower open for the U.S. market.

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Euro Maintains Range From Previous Month, British Pound Little Changed Overnight

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The EUR/USD pulled back from the high (1.3701) during the European trade as investors scaled back their appetite for risk, and the single-currency could face increased selling pressures going into the North American session as equity futures foreshadow a lower open for the U.S. market.

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Euro Advances as Greece Announces Additional Measures to Curb Deficit, British Pound Halts Six-Day Decline

The EUR/USD bounced back during the early European trade and crossed above the 20-Day SMA (1.3632) to reach a high of 1.3665, and the pair is likely to maintain the narrow range carried over from the previous week going into the North American as the European Central Bank is scheduled to announce its rate decision tomorrow at 12:45 GMT.

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Euro Advances as Greece Announces Additional Measures to Curb Deficit, British Pound Halts Six-Day Decline

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The EUR/USD bounced back during the early European trade and crossed above the 20-Day SMA (1.3632) to reach a high of 1.3665, and the pair is likely to maintain the narrow range carried over from the previous week going into the North American as the European Central Bank is scheduled to announce its rate decision tomorrow at 12:45 GMT.

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Euro Advances as Greece Announces Additional Measures to Curb Deficit, British Pound Halts Six-Day Decline

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EUR/USD Becomes Scalping Target Ahead of ECB Decision

 Recent price action for the EUR/USD makes it a scalping target in its own right and the upcoming ECB decision will only add to its attractiveness. The looming event risk typically leads to a period of consolidation as traders error to the side of caution as the policy meeting has the potential to initiate a new trend. Solid technical support and the current range has the pair offering profit potential in its current environment for those with a bit more risk tolerance, as we have seen sharp intra-day moves.   

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EUR/USD Becomes Scalping Target Ahead of ECB Decision

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 Recent price action for the EUR/USD makes it a scalping target in its own right and the upcoming ECB decision will only add to its attractiveness. The looming event risk typically leads to a period of consolidation as traders error to the side of caution as the policy meeting has the potential to initiate a new trend. Solid technical support and the current range has the pair offering profit potential in its current environment for those with a bit more risk tolerance, as we have seen sharp intra-day moves.   

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EUR/USD Becomes Scalping Target Ahead of ECB Decision

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EUR/USD Present Scalping Opportunity Post German IFO Volatility

 The EUR/USD fell sharply overnight as the German business sentiment in February declined for the first time in eleven months. Prior to the release the pair saw a bullish breakout and the offsetting price action has left it trading with its prior downward trending channel. Current consolidation is expected to continue as we saw little reaction to a dismal U.S. consumer confidence report which is the final event risk for the day. A solid support level below and resistance above help limit risks and makes the pair an attractive scalping target.   

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EUR/USD Present Scalping Opportunity Post German IFO Volatility

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 The EUR/USD fell sharply overnight as the German business sentiment in February declined for the first time in eleven months. Prior to the release the pair saw a bullish breakout and the offsetting price action has left it trading with its prior downward trending channel. Current consolidation is expected to continue as we saw little reaction to a dismal U.S. consumer confidence report which is the final event risk for the day. A solid support level below and resistance above help limit risks and makes the pair an attractive scalping target.   

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EUR/USD Present Scalping Opportunity Post German IFO Volatility

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EUR/USD Prime Target for Scalpers During Holiday Trading

The Euro has started to regain its footing after giving up nearly 1000 pips against the dollar. The upcoming Holiday season generally brings about low volume and subdued price action which makes most pairs scalping targets. However, the EUR/USD is the most traded pair which makes it the best choice based on its high liquidity which generates the lowest spreads. A staunch support level below adds to its attractiveness as it limits downside risks.

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EUR/USD Prime Target for Scalpers During Holiday Trading

From DailyFX:

The Euro has started to regain its footing after giving up nearly 1000 pips against the dollar. The upcoming Holiday season generally brings about low volume and subdued price action which makes most pairs scalping targets. However, the EUR/USD is the most traded pair which makes it the best choice based on its high liquidity which generates the lowest spreads. A staunch support level below adds to its attractiveness as it limits downside risks.

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Curreny Longs Caught in Nasty Bull Trap

Quite a session of trade in Europe, with many market participants feeling the burn of the nasty whipsaw price action. Initially, it appeared as though we could be on the verge of seeing a fresh wave of corrective upside in currencies, with the break back above the 10-Day SMA in Eur/Usd triggering a wave of currency buying just ahead of the European open.

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Curreny Longs Caught in Nasty Bull Trap

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Quite a session of trade in Europe, with many market participants feeling the burn of the nasty whipsaw price action. Initially, it appeared as though we could be on the verge of seeing a fresh wave of corrective upside in currencies, with the break back above the 10-Day SMA in Eur/Usd triggering a wave of currency buying just ahead of the European open.

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Curreny Longs Caught in Nasty Bull Trap

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British Pound Weighed by Bank of England Testimony, Euro Gives Back as Risk Appetite Falters

The British Pound tumbled lower during the European trade as U.K. policy makers continued to see a risk for a protracted recovery, and the currency may face increased selling pressures going into the North American session as the Bank of England maintains a dovish outlook for future policy.

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British Pound Weighed by Bank of England Testimony, Euro Gives Back as Risk Appetite Falters

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The British Pound tumbled lower during the European trade as U.K. policy makers continued to see a risk for a protracted recovery, and the currency may face increased selling pressures going into the North American session as the Bank of England maintains a dovish outlook for future policy.

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British Pound Weighed by Bank of England Testimony, Euro Gives Back as Risk Appetite Falters

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Euro Remains Tied To Risk Despite Divergence on Greek Woes

A brief bout of EUR/USD support may not last long as concerns are growing that the troubles in Greece will soon become a contagion for the region. As European leaders attempt to construct a bailout package, fears are emerging that the scope of the aid will fail to cure the country’s ills and at the same time set a dangerous precedent.

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Euro Remains Tied To Risk Despite Divergence on Greek Woes

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A brief bout of EUR/USD support may not last long as concerns are growing that the troubles in Greece will soon become a contagion for the region. As European leaders attempt to construct a bailout package, fears are emerging that the scope of the aid will fail to cure the country’s ills and at the same time set a dangerous precedent.

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Euro Extends Three Day Decline amid Greece Concerns, British Pound Sustains Narrow Channel

The Euro weakened against the greenback for the fourth successive day amid ongoing concerns regarding Greece’s budget deficit, leading the EUR/USD to hold the downward trending channel as the exchange rate looks to test the fresh yearly low of 1.3530.

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Euro Extends Three Day Decline amid Greece Concerns, British Pound Sustains Narrow Channel

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The Euro weakened against the greenback for the fourth successive day amid ongoing concerns regarding Greece’s budget deficit, leading the EUR/USD to hold the downward trending channel as the exchange rate looks to test the fresh yearly low of 1.3530.

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Bank Research Consensus Weekly 02.15.10

Greek debt concerns intensified over the past month, leaving the euro with a heightened risk premium. While an unsustainable Greek fiscal policy should not be a major concern for the eurozone as a whole (Greece only constitutes some 2-3% of total eurozone GDP) the situation has escalated to a point where it has become at least partly systemic. Market focus has turned to the other PIIGS countries (Portugal, Ireland, Italy, Greece and Spain), which have seen government bond spreads widen alongside already elevated Greek spreads. The result has been a broad-based euro sell-off leaving the single currency with a risk premium in excess of 4% (as estimated by our short-term financial model). EUR/USD has temporarily traded below 1.36 and the euro ended the week lower against all G10 currencies, but the Japanese yen (see the table to the right). Sverre Holbek & Kasper Kirkegaard, Senior Analyst’s, Danske Bank

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Bank Research Consensus Weekly 02.15.10

This is from DailyFX:

Greek debt concerns intensified over the past month, leaving the euro with a heightened risk premium. While an unsustainable Greek fiscal policy should not be a major concern for the eurozone as a whole (Greece only constitutes some 2-3% of total eurozone GDP) the situation has escalated to a point where it has become at least partly systemic. Market focus has turned to the other PIIGS countries (Portugal, Ireland, Italy, Greece and Spain), which have seen government bond spreads widen alongside already elevated Greek spreads. The result has been a broad-based euro sell-off leaving the single currency with a risk premium in excess of 4% (as estimated by our short-term financial model). EUR/USD has temporarily traded below 1.36 and the euro ended the week lower against all G10 currencies, but the Japanese yen (see the table to the right). Sverre Holbek & Kasper Kirkegaard, Senior Analyst’s, Danske Bank

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Bank Research Consensus Weekly 02.15.10

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