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28 Aug 2014
Dollar losing out on day of profit taking - FXStreet
FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet noted that the
Dollar edged lower against most rivals in a profit taking driven day.
Key Quotes:
“There were no news to lead market over US session, and minor one in Europe, nothing enough to affect the FX board”.
“Commodity currencies again took the lead, rising stronger than European ones that remained capped by critical resistance levels: the EUR/USD flirted with 1.3210 for a brief movement, unable however to advance beyond the weekly high of 1.3215 the key level to break to see a more upward constructive move”.
“Some news suggesting is unlikely to see the ECB acting next week without an inflation slump, prompted investors out the EUR again.
“The daily candle shows a lower low and a lower high, which keeps the bearish trend alive”.
Dollar edged lower against most rivals in a profit taking driven day.
Key Quotes:
“There were no news to lead market over US session, and minor one in Europe, nothing enough to affect the FX board”.
“Commodity currencies again took the lead, rising stronger than European ones that remained capped by critical resistance levels: the EUR/USD flirted with 1.3210 for a brief movement, unable however to advance beyond the weekly high of 1.3215 the key level to break to see a more upward constructive move”.
“Some news suggesting is unlikely to see the ECB acting next week without an inflation slump, prompted investors out the EUR again.
“The daily candle shows a lower low and a lower high, which keeps the bearish trend alive”.