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27 Feb 2015
EUR/USD ending the week around 1.1200
FXStreet (Edinburgh) - EUR/USD remains mired in the bearish camp around the 1.1200 handle, as we enter the last part of the NA session on Friday
EUR/USD eyes on ECB, data
The pair has given back the gains from the past 4 weeks, returning to levels post-Greek elections amidst an increasing sentiment towards the US dollar. However, the bearishness seems to be far from abandoning the euro, as next week’s focus will be on the start of the ECB’s quantitative easing programme, key manufacturing PMIs, flash consumer prices in the euro region and the critical Non-farm Payrolls in the US economy.
In another direction, ECB’s Vice President V.Constancio argued the central bank sees some sort of stabilization in the inflation expectations in the euro area, although stressing at the same time that the inflation target is still ‘very far’.
EUR/USD relevant levels
As of writing the pair is losing 0.42% at 1.1193 with the next support at 1.1100 (psychological level) ahead of 1.1098 (11-year low Jan.26) and then 1.1047 (low Sep.8 2003). On the flip side, a breakout of 1.1332 (10-d MA) would target 1.1349 (21-d MA) en route to 1.1380 (high Feb.26).
EUR/USD eyes on ECB, data
The pair has given back the gains from the past 4 weeks, returning to levels post-Greek elections amidst an increasing sentiment towards the US dollar. However, the bearishness seems to be far from abandoning the euro, as next week’s focus will be on the start of the ECB’s quantitative easing programme, key manufacturing PMIs, flash consumer prices in the euro region and the critical Non-farm Payrolls in the US economy.
In another direction, ECB’s Vice President V.Constancio argued the central bank sees some sort of stabilization in the inflation expectations in the euro area, although stressing at the same time that the inflation target is still ‘very far’.
EUR/USD relevant levels
As of writing the pair is losing 0.42% at 1.1193 with the next support at 1.1100 (psychological level) ahead of 1.1098 (11-year low Jan.26) and then 1.1047 (low Sep.8 2003). On the flip side, a breakout of 1.1332 (10-d MA) would target 1.1349 (21-d MA) en route to 1.1380 (high Feb.26).