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AceTraderFx Feb 02: Intra-Day News and Views & data to be released today – EUR/USD
Intra-Day Market Moving News and View
Update Time: 02 Feb 2021 05:30GMT
EUR/USD - 1.2084.. Despite Mon's intra-day selloff from 1.2144 (Aust.) to as low as 1.2056 in late New York trade due to broad-based usd's strength as the usd index hit a 7-week high, euro rebounded strongly in early Asian open as further rise in U.S. stock futures boosted risk appetite and triggered usd's selling.
As Monday's weakness to 1.2056 suggests correction from January's 6-week trough at 1.2055 has ended, below this good sup would yield resumption of decline from January's near 33-month peak at 1.3549 towards 1.2011 obj. Therefore, selling euro on intra-day bounce in expectation of another fall is favoured.
Offers are tipped at 1.2095/00 with stops above 1.2120 while a mixture of bids and stops is reported at 1.2060-50 area.
The euro area countries will release a slew of eco. data, please refer to our EI page for detail and pay attention to EU's Q4 GDP. We also have some ECB officials speaking in European n New York morning.
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Intra-Day Market Moving News and View
Update Time: 02 Feb 2021 05:30GMT
EUR/USD - 1.2084.. Despite Mon's intra-day selloff from 1.2144 (Aust.) to as low as 1.2056 in late New York trade due to broad-based usd's strength as the usd index hit a 7-week high, euro rebounded strongly in early Asian open as further rise in U.S. stock futures boosted risk appetite and triggered usd's selling.
As Monday's weakness to 1.2056 suggests correction from January's 6-week trough at 1.2055 has ended, below this good sup would yield resumption of decline from January's near 33-month peak at 1.3549 towards 1.2011 obj. Therefore, selling euro on intra-day bounce in expectation of another fall is favoured.
Offers are tipped at 1.2095/00 with stops above 1.2120 while a mixture of bids and stops is reported at 1.2060-50 area.
The euro area countries will release a slew of eco. data, please refer to our EI page for detail and pay attention to EU's Q4 GDP. We also have some ECB officials speaking in European n New York morning.
AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in Forex market since 1984, with proven analytical approach used by professionals and real-time updates
FontSize