Commentary by Nial Fuller and Larry K.
Daily Forex Market Commentary:
On Wall Street today the Dow hit a new 13-month high on the back of a weak dollar and a surprising jump in home sales.
Currencies gained on the dollar across the board. We can see in the chart below of the euro dollar that we are approaching the 1.5000 level again. This level has proved to be quite difficult to break through. A solid close above 1.5050 would signal fresh buying pressure for this currency pair.
Pair in focus: euro/dollar
EUR/USD daily chart: range bound for now, awaiting a break of 1.5050 or 1.4820 for market direction.
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