Forex Daily Analysis

Today’s comment Majors & Scandies By the Majors & Scandis Team The USD fell from its two-month high against the EUR after the ECB announced that rates were left unchanged at yesterday’s monetary policy meeting. This session trend: other majors are expected to make quick either way volatile moves for week end.

EUR Comment: Great excitement in some camps as the Euro gives back almost 50% of the gains since February. Yesterday’s ‘doji’ candle suggests we have found an interim low and will consolidate above here for several days. The dollar rallied versus the European currencies but sank versus the yen. The US currency should edge lower today, but the overall risk in on the upside. Euro/dollar Euro/dollar sank to a two-month low on Thursday before recovering to close flat.

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