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EUR/USD Mirroring USD/JPY Again Due to Dollar Weakness

nsteve Updated 5 Sep.  in #USD/JPY #EUR/USD #Non Farm Employment
Yesterday it was the Euro that dropped in response to the ECB enhancement and today the Dollar has dropped more than 50 pips after worse than expected Non-Farm Employment data. This shows especially when compared to the Yen in the Dukascopy Movers and Shakers table:
It is interesting to note that yesterday the EUR/JPY mirrored the EUR/USD, when it dropped and today it has mirrored the USD/JPY, as it has done for the last two months. See the two charts below:
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Shalomavahatikvah avatar
Shalomavahatikvah 7 Sep.

Big correlation here:)

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EURO Plunges after ECB Announcement

nsteve Posted 4 Sep.  in #Ecb #Euro #EUR/JPY #EUR/USD
The euro plunged over 200 pips after the ECB announcement turned out to be even more dovish than expected. It lost ground against all the other majors, as can be seen from the Dukascopy forex Movers and Shakers table below.
The euro was sold off so strongly that EUR/JPY discontinued its two-month long correlation with USD/JPY and instead mirrored EUR/USD, as can be seen from the two charts below.
For the EUR/USD will this be a case of “sell the rumor buy the news” or will the bear trend continu…
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EUR/USD Has Bounced but Will the Bear Trend Continue?

nsteve Posted 3 Sep.  in #EUR/JPY #EUR/USD
EUR/USD Has Bounced but Will the Bear Trend Continue? As predicted, EUR/USD has bounced and reached R2 before retreating back towards R1. All eyes are on the ECB announcements and US employment data tomorrow to see if the euro will resume its bearish direction.
The EUR/JPY has broken the neckline of an inverse head and shoulders pattern on the four hour chart. It remains to be seen whether this signals a break to the upside or whether the bearish trend since March will continue.
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