Trade n Trend

Home » EURO » EUR/USD Under pressure trade below 1.1000

EUR/USD Under pressure trade below 1.1000

The EUR/USD pair has come down nearly a big figure since Tuesday’s rejection around the key 200-day SMA in the mid-1.1000s. Spot lost upside bias as risk aversion ebbed during overnight trade and the greenback managed to reclaim some ground lost, prompting sellers to step in and drive euro lower.
The imminent ECB meeting (Thursday) will grab all the attention, while market bets on further stimulus by the central bank remain on the rise.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: