Recap of December:-
Opening Price: - 1.2445 on 1st December
High of the Month: - 1.2570 on 16th December
Low of the Month: - 1.2005 on December 31st
Close of the Month: - 1.2005 on December 31st
Fundamental Analysis:-
1. The FOMC meeting held December 17th indicated a probable rate hike in early 2015. The FED’s however used the word patient as they were expecting a more upbeat US data to go with the hike.
2. Discussions about a possible QE by ECB was on the cards in January.
3. Greece Presidential elections and a possible Greek exit from the EURO zone.
Sentiment Analysis: - Due to the divergent monetary policies by the FED and ECB everyone was bearish on the pair to a possible downside to 1.2000, 1.1800, 1.1600 and finally 1.1000 in the next 6 Months.
The Upside was considered to be capped by 1.2850 which was never breached.
Opening Price: - 1.2445 on 1st December
High of the Month: - 1.2570 on 16th December
Low of the Month: - 1.2005 on December 31st
Close of the Month: - 1.2005 on December 31st
Fundamental Analysis:-
1. The FOMC meeting held December 17th indicated a probable rate hike in early 2015. The FED’s however used the word patient as they were expecting a more upbeat US data to go with the hike.
2. Discussions about a possible QE by ECB was on the cards in January.
3. Greece Presidential elections and a possible Greek exit from the EURO zone.
Sentiment Analysis: - Due to the divergent monetary policies by the FED and ECB everyone was bearish on the pair to a possible downside to 1.2000, 1.1800, 1.1600 and finally 1.1000 in the next 6 Months.
The Upside was considered to be capped by 1.2850 which was never breached.
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