20 Nov 2013
Session Recap: The Fed wins the dialectic war and the EUR/USD remains above 1.3500
FXstreet.com (San Francisco) - Central bankers are down in the trenches but it seems the Fed is winning the war. In a cross fire of statements on who like the most the quantitative easing, the EUR/USD remains unchanged, but overall the winner is the USD.
Remember that in such a war, the weakest currency is the winner and now the Euro remains trading at highs against the dollar and the Yen. "Still capped below 1.3550," Valeria Bednarik from FXstreet.com comments about the EUR/USD, "the hourly chart shows a slightly positive tone, with technical readings in positive territory, albeit showing no actual momentum at the time being.
The EUR/USD traded positive for third day and it consolidated levels above the 1.3500 area and closed Tuesday at 1.3535. A break above 1.3548 (high Nov.6) would expose 1.3576 (MA21d) and finally 1.3589 (high Nov.1). On the slip side, the initial support aligns at 1.3475 (low Nov.18) followed by 1.3462 (MA10d) and then 1.3418 (low Nov.14).
The EUR/JPY advanced for sixth day in the last eight with the pair extending gains above the 135.50 area and reaching highest levels since October 2009 at 135.70.
The USD/JPY continues dealing with the 100.00 key mark and after falling to 99.60, the pair managed to recover to traded above mentioned level. The GBP/USD remains at the upper side of the recent days range in between 1.5900 and 1.6120 as the Cable traded slightly higher and closed at 1.6120.
Remember that in such a war, the weakest currency is the winner and now the Euro remains trading at highs against the dollar and the Yen. "Still capped below 1.3550," Valeria Bednarik from FXstreet.com comments about the EUR/USD, "the hourly chart shows a slightly positive tone, with technical readings in positive territory, albeit showing no actual momentum at the time being.
The EUR/USD traded positive for third day and it consolidated levels above the 1.3500 area and closed Tuesday at 1.3535. A break above 1.3548 (high Nov.6) would expose 1.3576 (MA21d) and finally 1.3589 (high Nov.1). On the slip side, the initial support aligns at 1.3475 (low Nov.18) followed by 1.3462 (MA10d) and then 1.3418 (low Nov.14).
The EUR/JPY advanced for sixth day in the last eight with the pair extending gains above the 135.50 area and reaching highest levels since October 2009 at 135.70.
The USD/JPY continues dealing with the 100.00 key mark and after falling to 99.60, the pair managed to recover to traded above mentioned level. The GBP/USD remains at the upper side of the recent days range in between 1.5900 and 1.6120 as the Cable traded slightly higher and closed at 1.6120.