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20 May 2015

EUR/USD extends the recovery to 1.1120

FXStreet (Edinburgh) - After hitting fresh lows in the 1.1060 area, EUR/USD has now regained the 1.1100 handle and is advancing towards 1.1120.

EUR/USD supported at 1.1060

The decline in the pair seems to have found transitory support in the critical 1.1060 area, as markets seem to have digested the recent comments by ECB’s B.Coeure. Spot is losing ground for the third consecutive session so far, after being rejected from the 1.15 neighbourhood last week amidst a strong resurgence of the US dollar.

Ahead in the session, the pair will be under pressure in light of the publication of the FOMC minutes, with opinions pretty divided regarding the probable tone.

EUR/USD relevant levels

As of writing the pair is down 0.23% at 1.1123 with the next support at 1.1062 (low May 20) ahead of 1.0994 (50% of 1.0521-1.1468) and then 1.0960 (low Apr.29). On the flip side, a break above 1.1151 (3821-d MA) would expose 1.1166 (100-d MA) and then 1.1237 (38.2% of 1.1468-1.1095).
May 20, 2015

USD/JPY consolidates below 121

USD/JPY keeps gains and remains below 121 barrier in the mid-European session largely as markets take a wait and see approach ahead of Fed minutes due later in the US session. While the US dollar is also seen consolidating gains after reaching fresh two week highs against its major peers earlier this session.
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May 20, 2015

Gold hits fresh session highs near $1210

Gold prices on Comex snapped its side trend and crawled higher to fresh session highs as traders flocked to the safety haven ahead of Fed minutes which is widely expected to read dovish boosting the gold bulls.
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