8 Apr 2014
EUR/USD makes it through 1.3800
FXStreet (Córdoba) - The EUR/USD rose further and extended gains beyond 1.3800 as the dollar continues to be heavily sold-off across the market.
The EUR/USD is gaining for a second day in a row after bottoming out at 1.3672 Friday in the wake of ECB potential QE rumors and solid NFP data. The pair has risen to a fresh high of 1.3806 and it is up 0.46% on the day presently trading at 1.3804.
EUR/USD beginning a fresh bull phase?
Jamie Coleman, Editor at FXBeat commented that there is good selling interest seen through the 1.3820 area but short-covering is expected to accelerate on a break above that level. "It is hard to see the euro beginning a fresh bull phase at the moment as its rise will surely attract the attention of the ECB. They may not launch QE to counter a strong euro but they could cut the refi rate further and impose negative deposit rates without too much controversy", Coleman said. "1.3818/19 is key level. 1.3818 is 50% of the 1.3967/1.3668 drop. 1.3819 was the April 2 high".
The EUR/USD is gaining for a second day in a row after bottoming out at 1.3672 Friday in the wake of ECB potential QE rumors and solid NFP data. The pair has risen to a fresh high of 1.3806 and it is up 0.46% on the day presently trading at 1.3804.
EUR/USD beginning a fresh bull phase?
Jamie Coleman, Editor at FXBeat commented that there is good selling interest seen through the 1.3820 area but short-covering is expected to accelerate on a break above that level. "It is hard to see the euro beginning a fresh bull phase at the moment as its rise will surely attract the attention of the ECB. They may not launch QE to counter a strong euro but they could cut the refi rate further and impose negative deposit rates without too much controversy", Coleman said. "1.3818/19 is key level. 1.3818 is 50% of the 1.3967/1.3668 drop. 1.3819 was the April 2 high".