opportunities for dollar bulls and consistent traders to come back long. This move was however short lived and offered opportunities for dollar bulls to come back in position and take advantage of a new leg. The March manufacturing PMI declined more than expected. In the North American session, the pair is trading.3430, unchanged on the day. This really slight and contained pullback which appears to me more like a simple technical pullback in the current rally due to profits taking than risk aversion due to a change in monetary policy tone from the Fed and the series of so called poor. The strongest moves we would like to point out were seen on USD/JPY and on Gold respectively from a low of 117.11 to a high of 119.198 hours and from 1264 to a low of 1228.17 all than in the span of only 8 hours. USD, last week was marked by the fomc minutes washout, the release of the minutes where the keyword patient was absent combined to a slightly dovish rhetoric that said that the Fed was not in a rush to raise interest rates triggered a massive sell. But when news are due, traders have to check the actual data. If it does drop this term then the US central bank may be in to raising rates as early as next June and will probably highlight that they will rely on data in order to pin the timing of future hikes. Also easing investor concerns was a ceasefire in most of Ukraine. EUR, eurusd remains in freefall after digging deeper into.05 region as it tested.046 late last week.
The Canadian dollar is unchanged on Monday, after USD/CAD rallied late last week. Vincent Pellizzari Last update : 6th April 201530th March 201523rd March 201516th March 20159th March 20152nd March 201523rd February 201516th February 20159th February 20152nd February 2015 CET) Share this Last week was the first week of correction on the Dollar index (DXY) after 6 weeks. Pages: 1 2, what is fundamental analysis? Last week allowed some hesitation on the current dollar bullish trend, even some renowned institutions started to call for a temporary top and the start of a reversal on the dollar as the latest was pulling back following the fomc minutes publication two weeks ago. Chairman of the Federal Reserve Bank of USA, Secretary of the Treasury, President of the Federal Reserve Bank of San Francisco and. From a technical point of view, the EUR/USD could rise.12.13 in case the.10 breakout is sustained and bulls are strong. This means one thing, the current uptrend is still in place and healthy thanks to this natural pullback.
Hopefully, Yellen will clarify a bit the situation regarding a probably rate hike for 2015 as the latest fomc minutes were favourable to adopt a more patient stance. All materials are published for educational purposes only. Any break lower would send a bearish signal on the USD for the week.
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