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Fundamental Analysis
AceTraderFx: Intra-Day Market Moving News and Views
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[QUOTE="AceTRaderForex, post: 136623, member: 22847"] [B]AceTraderFx Sept 29: Intra-Day Market Moving News and Views -EUR/USD[/B] [B]Intra-Day Market Moving News and Views 29 Sept 2017[/B] [I]02:50GMT[/I] EUR/USD - 1.1780.. Euro moves narrowly sideways in subdued Asian trading after a tumultuous week which saw the euro tumbling from 1.1960 (New Zealand Monday) to a 1-month low of 1.1718 due to market jitters following uncertainty on the forming of an uneasy German coalition by Merkel's govt. together with hawkish Fed n rising U.S. yields on the back of market renewed optimism of Trump trade following his tax proposal. Well, despite yesterday's initial weakness to 1.1721 at European open, a bout of broad-based profit taking in the usd quickly lifted the euro n price ratcheted higher to 1.1785 and later to session high of 1.1804 despite upbeat U.S. data, however, price later retreated to 1.1773 at New York midday n moved narrowly in New York afternoon. Although yesterday's rally to 1.1804 confirms recent decline has made a temp. bottom at 1.1718, further strong rise above 1.1800 is now envisaged and selling on upmove is still favored. Offers are tipped at 1.1800/10 and more above with stops above 1.1840. Initial bids are noted at 1.1770-60 and more below with stops below 1.1710. Pay attention to release of a slew of eco. data starting with Herman retail sales, France's consumer spending, CPI n PPI, German unemployment, Italy's CPI n PPIn then EU CPI. ECB's Nouy will speak at 07:30GMT. [/QUOTE]
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