News | ###

Euro Mover: ECB President Draghi Spoke. FOMC to Meet

By 07/20/2013 No Comments

European Central Bank President Mario Draghi said on Wednesday that the time was not right to consider rescuing Spain. He didn’t mention that the ECB was poised to provide more support for banks or governments either.

The Euro hit a three week high versus the dollar on the news that Britain is back to recession, but has been moving sideways in the 1.32 area ever-since, ahead of the Federal Open Market Committee (FOMC) meeting.

Last Friday’s bullish close opens the door for additional gains over the coming days but ultimately, any rallies should be well capped below 1.3400. A break and daily close back under 1.3000 is now required to put pressure back on a bearish outlook.

By Kiana Danial at Forex Diva

Leave a Reply

 

 

  • Economic Calendar
  • Terms of Service
  • Privacy Policy
  • Disclaimer:Investing in the financial markets involves a risk of loss.
    You should only invest the money you can afford to lose.

    Invest Diva (KPHR Capital, LLC) and Kiana Danial are NOT a financial advisor. Nothing said on investdiva.com by Kiana Danial or other contributors is meant to be a recommendation to buy or sell any financial instrument.