EURUSD bulls have shown their strong strength by reaching resistance level, a breakout of resistance can influence bears to surrender for a while and bulls have opened road. For now, bulls still have better opportunities.
EUR, GBP and AUD Support and Resistance
As the market continues its sideways movement it is a good idea to keep cognizant of important key levels of S&R as well as the 50 SMA and 100 SMA. When markets move sideways for an extended period of time ensuing price action on a breach of major S&R or an MA can be quick, therefore you want to be in a position to execute.
Japanese Yen Hits 14-Year Peak against Weakening U.S. Dollar
Investor speculation that Japan’s central bankers will permit the continued appreciation of the Japanese Yen led to that currency’s 14-year peak against the U.S. Dollar in trading in Asia.
U.S. Dollar Continues Slide to a New 7-Week Low Versus Yen
In Asian trading today, the U.S. Dollar fell to its lowest point in 7-weeks versus the Japanese Yen in Asian trading today. As reported at 1:53 p.m. (JST) in Tokyo, the U.S. Dollar slipped to 88.20 Yen, approaching the 88.01 Yen low of early October.
High Beta Currencies Follow Equity Markets Lower
Despite a meager data schedule, the FX markets have experienced relatively large moves over the course of the day as the unwind of positions ahead of year end were exaggerated by thin liquidity conditions. Equities are sharply lower across Europe and Latin America, and even gold has sold-off markedly from…