9 Mar 2015
EUR/USD: Limited on the upside - FXStreet
FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet explained that the currency market has dedicated the first day of the week to correct against the greenback.
Key Quotes:
"In Europe, the ECB began its bond-buying program of 60 billion Euros a month in sovereign debt and other assets, which resulted in an overall weaker EUR."
"The common currency was also weighed by some tensions coming from Greece, as the Euro area finance ministers met this Monday, and the Eurogroup President Jeroen Dijsselbloem stated that the troubled country needs to implement reforms as soon as possible, considering the latest agreement to extend Greece's rescue package will end in June. The clock is ticking against Greece once again."
"From a technical point of view and in the short term, the EUR/USD pair remains quite limited to the upside, as an early attempt to advance was contained by selling interest around the 1.0900 level, with the pair closing the day barely 10 pips away from its weekly opening."
Key Quotes:
"In Europe, the ECB began its bond-buying program of 60 billion Euros a month in sovereign debt and other assets, which resulted in an overall weaker EUR."
"The common currency was also weighed by some tensions coming from Greece, as the Euro area finance ministers met this Monday, and the Eurogroup President Jeroen Dijsselbloem stated that the troubled country needs to implement reforms as soon as possible, considering the latest agreement to extend Greece's rescue package will end in June. The clock is ticking against Greece once again."
"From a technical point of view and in the short term, the EUR/USD pair remains quite limited to the upside, as an early attempt to advance was contained by selling interest around the 1.0900 level, with the pair closing the day barely 10 pips away from its weekly opening."