EURUSD Daily Analysis – May 21, 2014
EURUSD’s downward movement from 1.3993 had completed at 1.3648 already, and the pair is now in uptrend.
EURUSD’s downward movement from 1.3993 had completed at 1.3648 already, and the pair is now in uptrend.
China’s (FXI, quote) ban on Microsoft Corp’s Windows 8 operating system in new government computers was “extremely unexpected”, the US software giant said.
GBPUSD’s upward movement from 1.6731 extended to as high as 1.6864.
USDJPY’s downward movement from 102.36 extended to as low as 101.10.
AUDUSD has been on a steady uptrend, as seen on the 4-hour time frame, but it appears that the rally is slowing down.
EURUSD remains in downtrend from 1.3993, the rise from 1.3648 could be treated as consolidation of the downtrend. Resistance is now at 1.3735,
AUDUSD continued its sideways movement in a range between 0.9318 and 0.9408.
The AUDUSD pair went back and forth during the session on Thursday, ultimately printing a fairly neutral candle.
China moves forward on its Free Trade initiatives by setting up “pilot zones” in several regions. The announcement came overnight from the office of Long Guoqiang at the General Office of the Development Research Center or DRC.
The EURUSD pair fell hard during the session on Thursday, breaking well below the 1.37 level, but part of this would’ve been based upon news headlines coming out of Spain that the European Central Bank might bring its rate down to negative real rates.