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Quite some action in FX markets at the turn of the month. Several pairs (EUR/JPY, GBP/JPY, USD/CAD, AUD/USD) broke their respective 200 DMA, and few other ones (EUR/USD, GBP/USD, NZD/USD) their 50 DMA, which sparked some momentum. Stock markets turning lower has also contributed to the volatility.
al_dcdemo's Blog
EURo continues to rally
Euro continued its rally today and was the best performer among major pairs. It did very well on the crosses too, rising the most against the Australian Dollar.
Tomorrow is Friday and with most of the Europe on holidays there's potential for some volatile moves on lower liquidity and month-end flows, but just as likely scenario is that the pairs will be consolidating in (tight) ranges.
The zone to watch on the upside is 1.1275 - 1.1300 and if it gives way, a sizable short squeeze could follow.
Tomorrow is Friday and with most of the Europe on holidays there's potential for some volatile moves on lower liquidity and month-end flows, but just as likely scenario is that the pairs will be consolidating in (tight) ranges.
The zone to watch on the upside is 1.1275 - 1.1300 and if it gives way, a sizable short squeeze could follow.
Week ahead
In the week ahead we have month-end, quarter-end and in Japan also fiscal-year-end, plus Good Friday holiday. With quite heavy calendar to boot, that promises lively action with a lot of volatility.
List of potential high impact events (times GMT+1):
30.03.2015 ---------- ALLDAY ------ EUR ---------- German Prelim CPI m/m
30.03.2015 ---------- 16:00 ---------- USD ---------- Pending Home Sales m/m
31.03.2015 ---------- 02:00 ---------- NZD ---------- ANZ Business Confidence
31.03.2015 ----------…
List of potential high impact events (times GMT+1):
30.03.2015 ---------- ALLDAY ------ EUR ---------- German Prelim CPI m/m
30.03.2015 ---------- 16:00 ---------- USD ---------- Pending Home Sales m/m
31.03.2015 ---------- 02:00 ---------- NZD ---------- ANZ Business Confidence
31.03.2015 ----------…