24 Aug 2015
EUR/USD retreats finds support above 1.1500
FXStreet (Córdoba) - EUR/USD surged on Monday and peaked at 1.1720, hitting the highest level since January and then pulled back sharply, trimming gains. The decline from the highs found support above 1.1500. The euro rebounded at 1.1515 and currently is moving again to the upside, as it trades at 1.1560/70, up almost 200 pips for the day.
Despite moving off session highs, EUR/USD is posting strong gains and is headed toward the fourth daily gain in a row and the highest close since January 21. The euro is the second best performer of the day in the currency market after the yen.
Calm after the crash
Volatility in the currency market eased during the last hours as stocks trimmed losses in Wall Street. European markets ended near the lows, suffering the worst day since 2011. The FTSE 100 lost 4.60% and the DAX 4.70%. In the US, the Dow Jones is now losing 1.80% or 300 points (at the beginning of the session it was down more than a thousand points).
Despite moving off session highs, EUR/USD is posting strong gains and is headed toward the fourth daily gain in a row and the highest close since January 21. The euro is the second best performer of the day in the currency market after the yen.
Calm after the crash
Volatility in the currency market eased during the last hours as stocks trimmed losses in Wall Street. European markets ended near the lows, suffering the worst day since 2011. The FTSE 100 lost 4.60% and the DAX 4.70%. In the US, the Dow Jones is now losing 1.80% or 300 points (at the beginning of the session it was down more than a thousand points).