The Dow broke a 3-day winning streak today as investors and traders sold stock in an effort to decrease risk. The flight to safety caused the price of US treasuries and in turn the USD to rise. This pushed the EURUSD to erase all of its intra day gains and a good portion of yesterdays gains as well.
USDJPY put on a little end of day rally as the close of the US equity markets inched closer and appeared to be headed for 77 until it sold off on profit taking and fell back down to 76.50. However it definitely has some bullish momentum right now and should be interesting to watch over the next couple of sessions.
USDCHF which has been struggling to break 90 all day has just finally climbed above the resistance and is now trading at .9004.
Following the sell off in commodities the AUDUSD which has taken a huge hit due to the gold sell off continued to struggle today as it fell 100 pips in the last 24 hours giving back all of Tuesdays gains.
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Daily Recap – Euro erases gains
The Dow broke a 3-day winning streak today as investors and traders sold stock in an effort to decrease risk. The flight to safety caused the price of US treasuries and in turn the USD to rise. This pushed the EURUSD to erase all of its intra day gains and a good portion of yesterdays gains as well.
USDJPY put on a little end of day rally as the close of the US equity markets inched closer and appeared to be headed for 77 until it sold off on profit taking and fell back down to 76.50. However it definitely has some bullish momentum right now and should be interesting to watch over the next couple of sessions.
USDCHF which has been struggling to break 90 all day has just finally climbed above the resistance and is now trading at .9004.
Following the sell off in commodities the AUDUSD which has taken a huge hit due to the gold sell off continued to struggle today as it fell 100 pips in the last 24 hours giving back all of Tuesdays gains.