Friday 12 January 2018 - Club Forex Dinero En Linea
By Forex - Fri, 01/12/2018 - 14:01
The ECB sent the single currency on the March but it was ultimately steered by EYR/JPY flows late in the NY shift with the pair dropping back to post ECB hawkish minutes highs of 1.2059, ending the NY session at 1.2040.
European 10-year yields were up 4-6bps after the ECB minutes were interpreted as hawkish, but were down 2bp in the US.
The outlook is bullish on the daily sticks with the 10-D SMA broken and a close above 1.2023. Daily momentum is neutral and directional indicators have converged. Recent support has been observed in the lower 1.19s around the midpoint of the range from mid-December. 1.2052 as the Jan 8 high and 1.2089 4 Jan high are next key targets. To the downside, 1.1903 is the 50% Fibo of 1.1718-1.2089.