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EUR/USD breaks above 1.4250

By   || April 4, 2011 at 00:21 GMT
|| 6 comments || Add comment

The USD has opened weaker against the Asian currencies and this is encouraging USD-selling against the majors as well. EUR/USD has broken swiftly through 1.4250 but it doesn’t look like there were any major stop-loss buy orders above there, as 1.4262 has been the high so far. Next resistance is the post-QE2 announcement high from early November at 1.4280.

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Category: All, Asia, orders
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6 Responses to “EUR/USD breaks above 1.4250”

  1. Thanh Ly on April 4th, 2011 00:22 GMT

    Good Morning Sean ! ( double posting , in case you didn’t see my last comment )

    It’s going to be a wild week in FX isn’t it :-) hope you have a great week

    I would think EUR/USD will not stop bullying until it touch bigger weekly line near 1,4400 area , any rate hike would slap the USD & cheer the bull to break major line against it

    As for EUR/JPY , it’s like a buy it or leave it :-) the bull is too strong to get in front until it charges another 600 pips ?!!

    HAVE FUN guys

    Thanh Ly

  2. hsbc on April 4th, 2011 00:32 GMT

    so who do u think is capping the move up from 1.425?

  3. Sean Lee on April 4th, 2011 01:01 GMT

    Morning Thanh, good luck this week

  4. Pandu on April 4th, 2011 02:43 GMT

    Sean, where do you have the EURUSD L-T trendline at today – I have it at 1.4290, but Thanh above mentions 1.44. Just want to see if my data is off.

  5. Sean Lee on April 4th, 2011 03:00 GMT

    I have it exactly at 14290 as well Pandu, but these l/t chart trendlines are notorious for inaccuracies

  6. Pandu on April 4th, 2011 03:30 GMT

    Thanks Sean. I’d expect strong resistance between 1.4280 and round number 1.43 then.

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