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18 Mar 2014
Session Recap: Nothing's gonna stop us now; Fed time ahead...
FXStreet (San Francisco) - Following the Mario Draghi's words of ‘whatever it takes’ from the 80's band Startship, Vladimir Putin seemed to say ‘nothing's gonna stop us now’ while he was signing the Russia’s official annexation of Crimea. Market took it easy as USD was trading in range on the day while stocks rallied for second day.
While the White House said the G7 will meet next week to study further ‘sanctions’, Crimea is almost officially a new part of Russia. Nothing more to say. Now market is focused on Wednesday FOMC meeting and the first Janet Yellen appearance. Investors expect another $10 billion taper.
The EUR/USD reached a new multi-year high close on Tuesday with the pair finishing the day at 1.3932, highest close since October 2011. Upside remains intact and the 1.4000 seems inevitable. "Anyway and from a technical point of view, the EUR/USD hourly chart maintains the neutral tone, nothing shocking considering the pair has been trapped in 60 pips for the last 48 hours," comments FXStreet chief analyst Valeria Bednarik. " In the 4 hours chart indicators present a mild positive tone, but the fact that price holds near the year high supports an overall bullish tone."
The GBP/USD resumed its downtrend as the cable broke below the 1.6600 area to close around 1.6290. USD/JPY remained in previous days range around 101.40 where it wrapped up the day.
While the White House said the G7 will meet next week to study further ‘sanctions’, Crimea is almost officially a new part of Russia. Nothing more to say. Now market is focused on Wednesday FOMC meeting and the first Janet Yellen appearance. Investors expect another $10 billion taper.
The EUR/USD reached a new multi-year high close on Tuesday with the pair finishing the day at 1.3932, highest close since October 2011. Upside remains intact and the 1.4000 seems inevitable. "Anyway and from a technical point of view, the EUR/USD hourly chart maintains the neutral tone, nothing shocking considering the pair has been trapped in 60 pips for the last 48 hours," comments FXStreet chief analyst Valeria Bednarik. " In the 4 hours chart indicators present a mild positive tone, but the fact that price holds near the year high supports an overall bullish tone."
The GBP/USD resumed its downtrend as the cable broke below the 1.6600 area to close around 1.6290. USD/JPY remained in previous days range around 101.40 where it wrapped up the day.