FXStreet (Guatemala) – EUR/USD is currently trading at 1.1113 with a high of 1.1289 and a low of 1.1049.
EUR/USD bulls have been disappointed today at the end of the week on a strong Nonfarm Payrolls. The data is offering a case for a 50/50 rate hike in September but there is still some way to go yet and dollar gains may be moderate as we progress. Meanwhile, the ECB has maintained there commitments on both of QE and taking considerations of the Greek debt situation while allowing 10yr yields to continue to increase which has been supporting the euro recently on their bond purchasing programme.
Currently, Greek PM Tsipras is speaking and is positive that we are now closer to a deal than ever before although offers a mixed presentation of the situation given that he is telling us that the creditors are backtracking on previous discussions while proposals have been unrealistic. So take what you can from this – but we are still on tenterhooks by the sounds of things despite the PM suggesting that we are in the final stages of discussions. So, get long, get short and hold on to your tin hats!
Technically, EUR/USD is back tracking on the Nonfarm Payrolls and dipping its toes in to the 1.10 handle’s vicinity, at the high end. This has however opened up prospects for the 1.0875 region on follow through. To the upside, 1.1402 guards the February highs of 1.1534. As Draghi recently pointed out, markets need to be ready for volatility – a swing traders delight!
(Market News Provided by FXstreet)