Kathy Lien is Director of Currency Research at GFT, and runs KathyLien.com.
Kathy has a Bachelors degree in Finance from New York University. Kathy has written for Stocks and Commodities, CBS Market Watch, ActiveTrader, Futures and SFO Magazine. She is frequently quoted on Bloomberg and Reuters and has taught seminars across the country. She has also hosted trader chats on EliteTrader, eSignal, and FXStreet, sharing her expertise in both technical and fundamental analysis.
It has been quite a week in the currency markets. The resilience of dollar bears proved to be too strong for bulls to handle as the key levels in the currency market.
It has been an extremely exciting day in the currency markets as the breakouts that we have been waiting for in the EUR/USD and USD/CHF finally materialize.
Despite the strength embedded in last Friday’s retail sales report and the non-farm payrolls number the week prior, the dollar has struggled to break its key resistance levels.
The US dollar’s momentum is merciless as traders take aim at the 1.25 level against the euro. The proximity of that important level could make it too tempting for traders not to test especially since this week has proven to be a very dollar positive despite the lack of any significant economic data over the past few days.
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