|Day's Range||1.23 - 1.234|
|52 Week Range||1.0497 - 1.2338|
Sarah Hewin of Standard Chartered Bank says there is pressure on the ECB's Mario Draghi from hawks who want a tighter policy stance.
Peter Kinsella, senior FX and rates strategist at the Commonwealth Bank of Australia, speaks about potential moves in major currencies this year.
Based on the current price at 1.2255, the direction of the EUR/USD is likely to be determined by trader reaction to the price cluster at 1.2243 to 1.2244.
The EUR/USD pair gapped higher at the open on Monday morning, pullback to fill that gap, and then rallied again. However, this market looks less likely to explode to the upside, and perhaps maybe consolidate in the short term.
Euro zone finance ministers welcomed Greek progress in delivering reforms but said on Monday they would only disburse the next tranche of loans once all agreed actions are complete. While Athens may have to wait until February for the money from the euro zone bailout fund ESM, the ministers said they would start technical work on more debt relief for Greece that could be granted after the end of the bailout in August. To pay out new loans, international lenders have asked Greece first to adopt 110 "prior actions".
The chairman of euro zone finance ministers Mario Centeno called on Monday for candidates to replace European Central Bank Vice President Vitor Constancio, whose term expires in May, kicking off two years of flux at the top of the ECB. "I launched today the call for candidates for the upcoming ECB Vice President vacancy, to ensure a smooth succession of Vitor Constancio, whose term ends on 31 May," Centeno said. Euro zone governments can present their candidates until Feb. 7 and euro zone finance ministers will vote on Feb. 19.
ESZTERGOM, Hungary/STUROVO, Slovakia (Reuters) - On the euro zone's eastern flank, some Slovaks in the border town of Sturovo wish their country had never opted for the common currency and now head over the Danube to Hungary for the cheaper shopping. Unlike Slovakia, Hungary has stayed out of the currency club, but on its side of the river people in the historic town of Esztergom feel they might be better off with the euro - although not yet. With Germany and France stepping up efforts to reform the EU and make the euro zone more crisis-proof, supporters of European integration say the post-communist countries which are holding on to their national currencies should change their minds.
Euro zone finance ministers will decide on Monday whether Greece is eligible for the next tranche of bailout loans after listening to an expert review of reforms recently adopted by Athens, top euro zone officials said. To pay out 6.7 billion euros (5.91 billion pounds) of new loans, probably in more than one tranche, international lenders have asked Greece first to adopt 110 "prior actions". Greece passed a so-called omnibus bill last week to meet that condition and experts -- the European Commission, the bailout fund ESM and the European Central Bank -- have been looking at them to see if they cover what was agreed.
Based on the early price action, the direction of the EUR/USD the rest of the session is likely to be determined by trader reaction to the pivot at 1.2244.
The Euro is trading within its higher boundaries against the U.S Dollar. On Thursday, the European Central Bank will release its monetary policy decision and outlook.
The EUR/USD pair rallied significantly during the week, but gave back some of the gains, to form a candle that looks almost like a shooting star. I believe that sends this market looking for lower pricing, but that should only offer more bullish pressure in the end.
After hitting a three-year high against the dollar, the strong euro is likely to preoccupy global markets and European Central Bank policymakers in particular in the coming week. The ECB, whose Governing Council meets on Thursday, last expressed concern over the single currency in September, when it said exchange rate volatility was an uncertainty that required "monitoring". Then the euro had only briefly nudged beyond $1.20.
Based on the early price action, the direction of the EUR/USD the rest of the day is likely to be determined by trader reaction to the steep uptrending Gann angle at 1.2235.
The EUR/USD pair rallied significantly during the trading session on Thursday, reaching towards the 1.2250 region. I expect that the 1.23 level will continue to offer resistance, and it looks as if we are starting to roll over again.
Based on the early price action, the direction of the EUR/USD the rest of the session is likely to be determined by trader reaction to the 50% level at 1.2166.
The EUR/USD pair initially tried to rally, but then pulled back to reach towards the 1.22 handle. This is an area that looks likely to be supportive going forward, as we have seen a lot of bullish momentum to the upside, so I think short-term, we could be looking at a bounce.
Based on the early price action and the downside momentum, the tone of the market today is likely to be determined by trader reaction to yesterday’s close at 1.2260.
VIENNA (Reuters) - The euro's recent strength against the U.S. dollar is 'not helpful', European Central Bank policymaker Ewald Nowotny said on Wednesday when asked about the currency's recent gains. Speaking ...
The EUR/USD pair dropped a bit during the trading session on Tuesday, as the Americans came back from the Martin Luther King Jr. holiday. The 1.22 level is offering a short-term support, but if we break down below there, I think will go looking towards even more significant support. In other words, the buyers seem to be in control longer term.