Morning Report February 27, 2014

ForexCT's Morning Briefing for 27 February 2014
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Headlines

Gold, Aussie reverse lower after recent run   
  • Gold sees reversal after nearing key resistance at 1350 
  • AUDUSD lower ahead of major capex data due today 
  • Euro sharply lower overnight as traders eye next week's ECB meeting 
  • US sharemarkets steady near all-time highs 
  • Heavy day of data ahead with AUD capex, German and US unemployment 

Chart of the day

EURUSD

A strong day's selling in the Euro suggests we might see further weakness over the next few sessions as we head towards next week's ECB meeting. 

With inflation well below the European Central Bank's target of 2%, many analysts believe the central bank will soon need to implement a new money printing or bank liquidity program. 

Technically, the Euro has reversed from major resistance up near 1.3800 and any retracement back to 1.3725 could be seen as a new selling opportunity. 
 

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Posted: 2014/2/27 8:20:30