Forex Trader

Reuters article is boosting the euro strong. As they write, the members of the ECB are sceptical about need for the furder easing in near term. The euro buyers took that news seriously and push the pair for 80 pips up, from 1.0850 to 1.0930 for now. As we can see, the 1.0800 support holds the sellers again yesterday and return the pair in neutral teritory, where the EUR/USD is moving in last couple of weeks. This chart and moves in this pair don’t show much and I wrote in my previous analysis that, the EUR/USD could move in some kind of consolidation until the news from the central banks. Well, this is nothing official, just an article from Reuters and it could be possible fail move. What we have technicaly? On the way up, first resistance is previous 1.0940/50, follows 1.0990/1.1000 and the strong one at 1.1030/60, where the MA’s are placed, daily 100 and 200. On the way back, 1.0880 > 1.0850 and 1.0800 as the stronger support!