Either Yellen or oil will reverse the market

Janet Yellen

EURUSD

This week EURUSD was one step away from the important resistance area – 1.14. Bulls were feeling lack of informational reason to push the pair against that level – no important news were released on Friday both from the USA and Eurozone. Even not taking this physiological level, the Dollar’s retreat looks more like capitulation. Market participants are more and more confident about the feeling that Fed reserve will not tighten the policy this year, especially in September. Continue reading

FOMC stops suppressing Dollar

FOMC

EURUSD

Last hour common currency managed to break the trading channel where it was traded the whole April. EURUSD dropped below 1.1320 that was not reached since March, 31. The turn started yesterday when bulls could not continue growth and stayed above 1.1450. Probably, we witness the turn of the pair but it is quite early to talk about it confidently now, we have to wait for confirmation of closing trades below 1.1320. Continue reading