6 Mar 2014
EUR/GBP feels like going up above 0,8215
FXStreet (Moscow) - EUR/GBP is trading around 0.8215 area, and apparently will try to climb higher.
Dovish and easy?
Today is the X-day for the pair, as the euro may be doomed should the ECB does something easy and dovish. The divergence between the BOE and ECB will grow soon, as the former is on the way to tightening, and the latter considers the tools for stimulating more. The today’s reaction may be two-staged. First, the market digests ECB meeting results, and if nothing is changed, the pair can climb up to initial resistance level at 0.8241. Then the focus goes to the press conference. If Draghi and Co is ready not to do, but just to speak “dovishly” we may see the sharp sell-off with initial target at 0.8194 support level.
What are today’s key EUR/GBP levels?
Today's central pivot point can be found at 0.8221 with support below at 0.8194, 0.8174 and 0.8147, with resistance above at 0.8241, 0.8268, and 0.8288. Hourly Moving Averages are mixed, with the 200SMA bearish at 0.8233 and the daily 20EMA flat at 0.8240. Hourly RSI is neutral at 40.
Dovish and easy?
Today is the X-day for the pair, as the euro may be doomed should the ECB does something easy and dovish. The divergence between the BOE and ECB will grow soon, as the former is on the way to tightening, and the latter considers the tools for stimulating more. The today’s reaction may be two-staged. First, the market digests ECB meeting results, and if nothing is changed, the pair can climb up to initial resistance level at 0.8241. Then the focus goes to the press conference. If Draghi and Co is ready not to do, but just to speak “dovishly” we may see the sharp sell-off with initial target at 0.8194 support level.
What are today’s key EUR/GBP levels?
Today's central pivot point can be found at 0.8221 with support below at 0.8194, 0.8174 and 0.8147, with resistance above at 0.8241, 0.8268, and 0.8288. Hourly Moving Averages are mixed, with the 200SMA bearish at 0.8233 and the daily 20EMA flat at 0.8240. Hourly RSI is neutral at 40.