One news sites outlook,
The EURUSD took out the 1.3600 handle in early European trade but has since struggled to maintain its gains. For now the market is shrugging off any concerns regarding sovereign debt problems in the EZ and focusing instead on the dilutive prospects of another round of QE from the Fed. However, tomorrow currency traders will get a glimpse of the full cost of the rescue of the Anglo Irish bank which could introduce a note of caution into the market. The latest move in the pair appears to be overdone and barring any additional dovish news out of the US, the EURUSD will most likely pause and retrace to 1.3500 over the next few days.
The EURUSD took out the 1.3600 handle in early European trade but has since struggled to maintain its gains. For now the market is shrugging off any concerns regarding sovereign debt problems in the EZ and focusing instead on the dilutive prospects of another round of QE from the Fed. However, tomorrow currency traders will get a glimpse of the full cost of the rescue of the Anglo Irish bank which could introduce a note of caution into the market. The latest move in the pair appears to be overdone and barring any additional dovish news out of the US, the EURUSD will most likely pause and retrace to 1.3500 over the next few days.
Today's zone = Tomorrow's opportunity!