After the FOMC statement--which was interpreted by the market as slightly hawkish--the EUR/USD dropped from it's maintained for weeks highs of 1.095. On Thursday's early European session technicals gave a signal of the downward movement to continue and thus we placed an order for a SHORT trade when price moves again below 1.088.
Nevertheless, the EUR/USD buying interest at the 1.088 level--which was briefly breached--brought the pair back up to its highs around 1.094. That movement which most likely supported by the good unemployment numbers and even good US data didn't manage to bring the pair down. That price action is hard to be analysed as technicals currently as muddled. We're keeping the orders for now, but most likely will not keep the trade or orders open for this French elections-weekend.
Finally, we opened a LONG trade on EUR/AUD, mainly based on strong technicals and the weak commoditiies prices which influence the pair. However, the EUR/AUD is at new high levels, so caution is warranted.
Nevertheless, the EUR/USD buying interest at the 1.088 level--which was briefly breached--brought the pair back up to its highs around 1.094. That movement which most likely supported by the good unemployment numbers and even good US data didn't manage to bring the pair down. That price action is hard to be analysed as technicals currently as muddled. We're keeping the orders for now, but most likely will not keep the trade or orders open for this French elections-weekend.
Finally, we opened a LONG trade on EUR/AUD, mainly based on strong technicals and the weak commoditiies prices which influence the pair. However, the EUR/AUD is at new high levels, so caution is warranted.
