During today’s session, the
US
Dollar gradually recovers Thursday’s sharp sell-off as
DXY (Dollar Index) continues its momentum towards the psychological level of 100 points.
Given the strength of
Euro sellers seen in this quarter of 2015 as well as ongoing political turmoil within the
Eurozone, the parity
price level seems to be becoming more realistic with each
trading day that passes us by. It’s worth mentioning as well that Germany’s 30 year bund yield dropped below 0.75% for the first time ever and the situation is seen as getting “crazier and crazier’.
How long can
Euro support its current important
technical levels at 1.05 and then 1.0350 before the 1:1
exchange rate?
Looking at the pace of the sell-offs at recent levels at 1.1150 and later 1.08, the 1.05 and 1.035 levels may as well be just holding levels during quieter Asian session before eventually testing 1:1. Having taken
fundamental and
technical views into consideration it is likely that any corrective movements up will be seen as an opportunity to enter new short positions.
Corrective moves may somehow be limited to
price levels at 1.08, but break above would require significant institutional buying, which is highly unlikely to happen so close to 1:1 rate.
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Given the strength of
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How long can
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Looking at the pace of the sell-offs at recent levels at 1.1150 and later 1.08, the 1.05 and 1.035 levels may as well be just holding levels during quieter Asian session before eventually testing 1:1. Having taken
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Corrective moves may somehow be limited to
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