(MENAFN- DailyFX) DailyFX.com - r>
Talking Points:
- EURUSD slips below $1.2704/15 support zone.
- No longs in GBPUSD unless above $1.6260.
- Euro Faces Economic Headwinds with Weakening German Euro-Zone PMIs
Volume levels are lower in the major FX pairs to start the week but that may be a function of markets not having anything to chew on. Panicky headlines regarding the spread of ebola economic growth in the Euro-Zone and geopolitical hotspots have calmed in recent days and alongside a diminished economic calendar to start the week fear has given way to optimism anew.
Whether or not the jubliation in risk assets can continue indefinitely remains to be seen. Now that the economic calendar is opening up to more significant event risk in the second half of the week FX markets are likely to be a bit more volatile again.
See the above video for technical considerations in all of the USD majors as the broad USDOLLAR Index attempts to punch through intermediate swing resistance.
Read more: USD Attempts to Fight the Correction - Levels in EUR/USD USD/JPY
--- Written by Christopher Vecchio Currency Strategist
To contact Christopher Vecchio e-mail cvecchio@dailyfx.com
Follow him on Twitter at @CVecchioFX
To be added to Christopher’s e-mail distribution list please fill out this form
original source
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.