Bin Laden & EUR/USD

[MadMarketScientist 11]

As soon as the news of bin Laden's death hit the airwaves, I immediately opened up my EUR/USD charts. The pair fell from the $1.4820 range to the low $1.4760 range. However, the low range did not hold long, and the euro started to climb again. By the time of Obama's speech, the dollar was already trading around $1.4790. The dollar even touched as high as $1.4903 today.

 

I'm surprised that the U.S. dollar didn't weaken from the news? Thoughts?

 

MMS

[iwshares 10]

My take on it is the death of one terrorist doesn't change the overall economic picture, nor does it make the world a massively safer (and more prosperous) place - or the opposite. In particular reference to the EUR/USD daily charts, it still seems likely to trend up, with pretty much the same size channel in the pullback as the pullback last 21-25 april '11. On the other hand the GBP/USD, which has normally is quite similar to the EUR/USD has taken a massive dive today, breaking through a significant S/R level of 1.64984. I wouldn't want to speculate what will happen with that pair. USD/CHF has hit a temporary support around 0.85256 though I don't think that is likely to retrace back up.

[ahimsa 10]

The us dollar came to a period not so brilliance,i think that isn't so strong,and conseguently if the EUR/USD climb again the dollar didn't weaken?i think yes! the usd chf pair is again in down trend also if today i found it with hysteric pattern.maybe the news had more speculation in this pair today.

[TimRacette 11]

I have to agree with iwshares, if anything the death of Osama puts military back on high alert. The fundamentals of the US economy are still unchanged.