10:50 GMT (Global-View.com) March 12 - Mixed slies for the EURUSD to start the week after the brief break of the 50 day mva (1.3086) did not follow through. This leaves the market in limbo as it fights to build momentum for a test of 1.30. The focus seems more on the AUD and NZD, which are trading softer, not just vs the JPY (which has bounced on most crosses) but vs. the EUR as well.
Daily Jay Meisler's Forex WeatherMap
March 12, 2012 EURUSD (Current rate: 1.3115, O/N Range 1.3078-1.3135)
Outlook: The lack of follow through overnight has left the market struggling to build momentum. For today, there is still a SOB (Sell on Blips) bias while below 1.3150 but consolidating. Only 1.32+ would negate the overall risk and turn the market neutral.
Range:
Resistance
1.3185
1.3150-60
1.3135
1.3078
1.3050-55
1.3000
Support
See more on the GVI Forex Forum
Daily Jay Meisler's Forex WeatherMap
March 12, 2012 EURUSD (Current rate: 1.3115, O/N Range 1.3078-1.3135)
Outlook: The lack of follow through overnight has left the market struggling to build momentum. For today, there is still a SOB (Sell on Blips) bias while below 1.3150 but consolidating. Only 1.32+ would negate the overall risk and turn the market neutral.
Range:
Resistance
1.3185
1.3150-60
1.3135
1.3078
1.3050-55
1.3000
Support
See more on the GVI Forex Forum
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