Tag Archives: FED

EUR/USD: more pain for the Euro

The EURUSD has suffered sharp losses yesterday. The support range where I was looking to enter long has failed. The was no bullish signal therefore the market did not trap me on the long side.
Dollar strength came after Trichet has cooled of expectations that the ECB would start raising interest rates then Bernanke’s comments suggesting no change to Fed’s QE2 policy (despite he was talking about growing concerns on food inflation) have further boosted the USD.
Today we have the release of Jan NFP in the US which should be a market moving event.
On the EURUSD 4h chart the 1.3573 swing low should hold as a support to keep the current uptrend intact.