Euro Bulls Are Happy

Things continue to look good for the EUR/USD currency pair.The trend higher remains intact. Price is approaching the all-time high. An increase in interest rates is expected. All positive signs for the bulls. A break of 1.3620 will signal another run at 1.3666. Initial resistance is at 1.3643.

Euro In No-Man's-Land

The EUR/USD currency pair approached, but did not breach our trigger yesterday. What followed was a day of range bound trading. US retail sales data had little effect on the market. We look for things to be different today. We’ll be watching US CPI data, industrial production and capacity utilization. The US dollar has been so weak that any negative surprise in any area should boost the Euro. Our trigger is set at 1.3555 to the upside.

Euro Strength Continues

We will look for the EUR/USD currency pair to continue its march higher from last week, The euro remains stronger than both the US dollar and the Japanese yen. And we still see the EUR/JPY pair in carry trades. Our trigger is set at 1.3567 with tight stops. A clear break of 1.3580 will signal another assault on resistance at 1.3686.

Awaiting FOMC Minutes

The US dollar is consolidating ahead of the release of the minutes of the last FOMC meeting. This could have a big impact on the EUR/USD currency pair. As inflation concerns increase, many traders are looking for the Fed to soften their language and dash expectations of an impending interest rate cut. Current intraday indicators are neutral but expect a decline on another failed attempt to break 1.3450.

Another Quiet Day Expected

Most traders are looking for a tight trading range today as European markets observe a holiday. We still see a bullish tone to the EUR/USD currency pair. Our intraday indicators are turning up and long triggers are at 1.3374.

Happy Easter

The foreign currency market is very quiet as we go in to Easter weekend. Yesterday gave us plenty of movement and some substantial gains. But right now the market is flat. We will watch the action when the US non farm payroll data is released and then start our weekend.

Another Quiet Day Ahead

Yesterday saw the most volatility in what has been a week of consolidation. All eyes are focused on tomorrow’s US non farm employment data. We’ve only been able to scalp the market this week as no clear trends developed. We still watch for a clean break of 1.3380 to the upside. Support is still contained at 1.3342.

Quiet Week Ahead

Traders are expecting little movement in the early part of the week due to the effects of the Easter season. The EUR/USD currency pair continues to consolidate with choppy internals. The US releases ISM data this morning, but many traders are expected to remain on the sidelines until the non farm payroll numbers due out this Friday. Our intraday indicators are currently neutral so we will look to scalp where possible.