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Forex Discussions
Fundamental Analysis
AceTraderFx: Intra-Day Market Moving News and Views
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[QUOTE="AceTRaderForex, post: 97606, member: 22847"] [B]AceTraderFx Feb 25: Intra-Day Market Moving News and Views (EUR/USD)[/B] [B]Intra-Day Market Moving News and Views 25 Feb 2016[/B] [I]04:05GMT[/I] EUR/USD - ..... Euro trades narrowly in subdued Asian morning after yesterday's roller-coaster session. Although price came under renewed selling due partly to active selling in eur/yen, price tumbled in Europe after tripping stops below Tuesday's 1.0990, the pair fell to a 3-week trough of 1.0957 at London midday before ratcheting higher to 1.1046 in New York on active short-covering after downbeat U.S. services PMI and new home sales data Although euro has pared intra-day gain in New York afternoon, the fact that said yesterday's rally from 1.0957 signals a temp. low is made, broad sideways swings are in store and risk has tilted to the upside for more short-covering rise. Offers are tipped at 1.1045/55 and more above with stops touted above 1.1075, however, there is market chatter of fairly large stops above 1.1100. Initial bids are noted at 1.1005-1.0990 area and more below with stops below 1.0950. Pay attention to German Gfk consumer confidence for March and German inflation data at 07:00GMT and then Italy's consumer business and consumer confidence at 09:00GMT. [/QUOTE]
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