7 Jun 2013
EUR/USD notches impressive day to close above 1.3200
FXstreet.com (Barcelona) - The EUR/USD finished the day with impressive gains, trading as high as 1.3305 before drifting slightly lower later in the day and closing at 1.3239 (highest daily close since late Feb).
According to David Song, Currency Analyst at DailyFX, “"The U.S. dollar tumbled lower against its major counterparts on Thursday, with the Dow Jones-FXCM U.S. Dollar Index (Ticker: USDollar) tagging a fresh monthly low of 10,517, but the greenback may regain its footing over the next 24-hours of trading as Non-Farm Payrolls are expected to increase another 165K in May. Although the jobless rate is expected to hold steady at an annualized 7.5%, we may see a rise in the unemployment print should discouraged workers return to the labor force, and the dollar may face a choppy reaction should we see a mixed batch of data.”
According to Val Bednarik of FXStreet.com, "The EUR/USD, that traded firmly up before the news, following a quite positive ECB, broke above 1.3200 and tested 1.3305 before giving up some and enter in a consolidative stage around current levels. The hourly chart shows indicators still in extreme overbought territory although easing, while in the 4 hours chart technical readings present the same stance. The break above 1.3241, puts the EUR/USD at a 4-month high, and as hope of US QE tapering diminish, the more chances the pair has to continue advancing now: disappointing US reading may see EUR/USD surging up to 1.3400 this Friday."
According to David Song, Currency Analyst at DailyFX, “"The U.S. dollar tumbled lower against its major counterparts on Thursday, with the Dow Jones-FXCM U.S. Dollar Index (Ticker: USDollar) tagging a fresh monthly low of 10,517, but the greenback may regain its footing over the next 24-hours of trading as Non-Farm Payrolls are expected to increase another 165K in May. Although the jobless rate is expected to hold steady at an annualized 7.5%, we may see a rise in the unemployment print should discouraged workers return to the labor force, and the dollar may face a choppy reaction should we see a mixed batch of data.”
According to Val Bednarik of FXStreet.com, "The EUR/USD, that traded firmly up before the news, following a quite positive ECB, broke above 1.3200 and tested 1.3305 before giving up some and enter in a consolidative stage around current levels. The hourly chart shows indicators still in extreme overbought territory although easing, while in the 4 hours chart technical readings present the same stance. The break above 1.3241, puts the EUR/USD at a 4-month high, and as hope of US QE tapering diminish, the more chances the pair has to continue advancing now: disappointing US reading may see EUR/USD surging up to 1.3400 this Friday."