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Euro Fell to 1.3530 Against Dollar In Europe

Posted by Chris Advincula on Jun 13, 2014 10:15:00 AM

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Charts: WorldWideMarkets Alpha Trader

The euro fell in Europe as gains were unsustainable a the 1.3578 intraday high in Europe with stop hunters pushing the rate lower at the 100 -DMA 1.3558 falling to 1.3530 at the start of the EU session. The move was inspired by the much bigger volume and rally of cable demand as euro-sterling fel 85 points on the daily chart from the hawkish comments of BOE Governor Mark Carney who surprised the market saying that interest rates may rise sooner than markets expect at 20:00 GMT yesterday.

After stops were filled as the rates fell, the euro lost its momenum and appers to be confined in a 15-pip range as it entered the New York session. Vanilla Option expires at 1.3550 and 1.3600. The 14-day moving average fell fro 1.3573 to 1.3533.




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