Dollar Versus Euro and Pound July 27th

FX Strategy Video > Currency Pairs Analysis

EUR/USD had a very bullish session on words from Mario Draghi that the ECB was willing to do whatever it takes to keep the Euro alive. This seemed to be some kind of revelation to the markets, and as such we saw a surge. However, we stalled right at the first signs of serious resistance.

The GBP/USD had a very similar reaction, and now looks like it is struggling with the 1.57 level. It also looks as if the reaction may have been well overdone. Possible fades could come into play.

Published on 26th of July 2012
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