12 May 2014
Session Recap: Consolidation day; Dollar remains strong
FXStreet (San Francisco) - Despite the sideways on Monday, the US Dollar remained trading on firm note as the EUR/USD and the GBP/USD posted limited gains while the USD/JPY accelerated to recover the 102.00 area.
The 1.3745 is containing the EUR/USD bearishness, however the pair looks heavy as technical indicators show in the 1 and 4 hours charts. "A break below 1.3745 past Friday’s low is required to confirm a quick extension towards 1.3700 price zone," comments FXStreet's Valeria Bednarik. "While next strong support stands in the 1.3640/60 price zone."
Some factors are helping the Dollar tone: Yields continued to rebound from "last week's test of the low-end of the months-long range in US Treasuries," as Jamie Coleman from FXBeat affirms; and stocks that advanced to all-time records.
The GBP/USD advanced after three days of losses as the cable bounced back to 1.6900 but the recovery was rejected sending the pair to close at 1.6865. The USD/JPY jumped above 102.00 to highs of 102.17 where the pair remains trading in consolidation.
Main headlines in the American session
Gold breaks above $1,300 to daily highs
EMEA EM Express: Donetsk votes in favor secession from Ukraine, EU imposes new sanctions on Russia
">US April monthly budget statement $106.9B vs $114B expected
S&P 500 just misses all-time high but closes at record
The 1.3745 is containing the EUR/USD bearishness, however the pair looks heavy as technical indicators show in the 1 and 4 hours charts. "A break below 1.3745 past Friday’s low is required to confirm a quick extension towards 1.3700 price zone," comments FXStreet's Valeria Bednarik. "While next strong support stands in the 1.3640/60 price zone."
Some factors are helping the Dollar tone: Yields continued to rebound from "last week's test of the low-end of the months-long range in US Treasuries," as Jamie Coleman from FXBeat affirms; and stocks that advanced to all-time records.
The GBP/USD advanced after three days of losses as the cable bounced back to 1.6900 but the recovery was rejected sending the pair to close at 1.6865. The USD/JPY jumped above 102.00 to highs of 102.17 where the pair remains trading in consolidation.
Main headlines in the American session
Gold breaks above $1,300 to daily highs
EMEA EM Express: Donetsk votes in favor secession from Ukraine, EU imposes new sanctions on Russia
">US April monthly budget statement $106.9B vs $114B expected
S&P 500 just misses all-time high but closes at record