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AceTraderFx Oct 06: Intra-Day Market Moving News and Views -EUR/USD
Intra-Day Market Moving News and Views
06 Oct 2017 02:40GMT
EUR/USD - 1.1711.. Euro remains on the back foot in Asian trading after intra-day re-test of o/n New York low of 1.1700. Despite yetersday's initial rebound to 1.1779 in early European trading, sellers quickly emerged n pushed price lower, intra-day decline accelerated after release of ECB minutes, euro later hit session lows of 1.1700 on upbeat U.S. data.
As market focus remains on stops below Wed's 5-week trough at 1.1697, more stops are reported below Aug's bottom at 1.1663, so selling euro on recovery is favoured.
Offers are tipped at 1.1720/30 and more above with some stops above 1.1750.
Bids are noted at 1.1700-1.1690 with stops below there, more stops are building below 1.1660.
Ahead of key U.S. NFP, euro area will release a slew of eco. data starting with Germany's industrial orders, France's current account, Italy's retail sales. ECB's de Galhau n Nowotny will both be speaking at an event in Vienna at 13:30GMT.
AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in FX market since 1984, with proven analytical approach used by professionals and real-time updates
Intra-Day Market Moving News and Views
06 Oct 2017 02:40GMT
EUR/USD - 1.1711.. Euro remains on the back foot in Asian trading after intra-day re-test of o/n New York low of 1.1700. Despite yetersday's initial rebound to 1.1779 in early European trading, sellers quickly emerged n pushed price lower, intra-day decline accelerated after release of ECB minutes, euro later hit session lows of 1.1700 on upbeat U.S. data.
As market focus remains on stops below Wed's 5-week trough at 1.1697, more stops are reported below Aug's bottom at 1.1663, so selling euro on recovery is favoured.
Offers are tipped at 1.1720/30 and more above with some stops above 1.1750.
Bids are noted at 1.1700-1.1690 with stops below there, more stops are building below 1.1660.
Ahead of key U.S. NFP, euro area will release a slew of eco. data starting with Germany's industrial orders, France's current account, Italy's retail sales. ECB's de Galhau n Nowotny will both be speaking at an event in Vienna at 13:30GMT.
AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in FX market since 1984, with proven analytical approach used by professionals and real-time updates