EUR/USD
Yesterday the forex market was again more volatile than it is usually. The big guys played all the trick they know to make some money. “Buy the rumor sell the fact” reaction to the much better than expected US GDP numbers was one of the money making clasics. Fears are mounting that Russia may restrict oil deliveries to Western Europe over coming days, in response to the threat of EU sanctions and Nato naval actions in the Black Sea. This time the effect of this news is not as clear as it should be. Obviously it will take oil prices higher but this time EUR may not be supported as well. EUR/USD is concolidating the recent free fall and the pair should break below 1.4570 or above 1.4810 for any directional movement. Support is @ 1.4670 and 1.4630. Resistance is @ 1.4810 and 1.4915. Some rumors that large North Asian account, Sovereign and China names buying EUR on dips below 1.4700.
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