1 Oct 2014
Session Recap: US Dollar advances while Oil collapses
FXStreet (San Francisco) - The US dollar advanced on Tuesday versus its major competitors as investors remains in wait-and-see ahead of ECB's meeting and US Nonfarm payrolls on Friday. Oil fell more than $3 and pushed down the Canadian dollar too.
The EUR/USD resumed its downtrend after a brief consolidation day on Monday. The pair fell to price below 1.2600 but the pair manages to recover and now it's closing at 1.2630, down 0.43% on the day, having posted a daily high at 1.2703 and low at 1.2571.
According to Valeria Bednarik indicators are "turning south in negative territory after correcting overbought readings." Bednarik points out that below the 1.2880, market "should see the pair extending its decline towards 1.2510, with sellers now probably surging on approaches to the 1.2660 level."
The GBP/USD extended lows to 1.6165 after declining for fourth day in the last five sessions. Currently, GBP/USD is trading at 1.6213, down 0.17% on the day, having posted a daily high at 1.6289 and low at 1.6166.
The EUR/USD resumed its downtrend after a brief consolidation day on Monday. The pair fell to price below 1.2600 but the pair manages to recover and now it's closing at 1.2630, down 0.43% on the day, having posted a daily high at 1.2703 and low at 1.2571.
According to Valeria Bednarik indicators are "turning south in negative territory after correcting overbought readings." Bednarik points out that below the 1.2880, market "should see the pair extending its decline towards 1.2510, with sellers now probably surging on approaches to the 1.2660 level."
The GBP/USD extended lows to 1.6165 after declining for fourth day in the last five sessions. Currently, GBP/USD is trading at 1.6213, down 0.17% on the day, having posted a daily high at 1.6289 and low at 1.6166.