EURUSD

Technical Analysis – EURUSD finds strong obstacle at 20-day SMA; creates double bottom pattern in medium term

Posted on June 25, 2018 at 6:39 am GMT

EURUSD has been underperforming over today’s session, after the bounce off the 20-day simple moving average in the short-term. The world’s most traded currency pair is trying to snap the two consecutive winning days, while it is in the process of forming a double bottom pattern with trough the 1.1510 barrier and with neckline the 1.1840 resistance level. In the daily timeframe, the technical indicators seem to have lost some of their strong bullish momentum. The Relative Strength Index (RSI) is sloping slightly to the downside [..]

Week Ahead – Eurozone and US inflation eyed; RBNZ meets; low hopes for Brexit deal at EU summit

Posted on June 22, 2018 at 12:24 pm GMT

Inflation data will be watched in the Eurozone and the United States as both countries make progress towards their price targets. GDP numbers will also be in focus as final estimates are released in the US and the United Kingdom, while Canada publishes monthly growth figures. Central bank activity will come from the Reserve Bank of New Zealand, while an EU summit is sure to make the headlines as European leaders meet to discuss Brexit. Eurozone CPI to hit 2% [..]

EURUSD posts eleven-month low, but a double-bottom may be forming – Technical Analysis

Posted on June 22, 2018 at 12:20 pm GMT

EURUSD reached an eleven-month low of 1.1510 on May 29, subsequently rebounded, but came back down to test that area again on June 21. However, the bears were unable to pierce that level, and now, a double-bottom formation looks to be in the works. A break above 1.1850 is needed to confirm such a pattern, in which case the odds for further recovery in the pair would increase substantially from a technical standpoint. Momentum oscillators in the daily timeframe support [..]

US Open Preview – Oil stays bullish as OPEC seen near agreement; Euro cheers on upbeat PMIs

Posted on June 22, 2018 at 12:01 pm GMT

Here are the latest developments in global markets: FOREX: Dollar/yen was posting moderate gains on Friday, inching up to 110.14 (+0.14%) as uncertainties around US-Chinese trade relations were still high. The two giant world exporting economies exchanged additional threats of import tariff measures this week, with the Chinese Ministry of Commerce characterizing US trade protectionism on Friday as “self-defeating and a symptom of paranoid delusions”. The dollar index was down for the second day, last seen at 94.62 (-0.12%) as the euro and the pound remained [..]

European Open Preview – Pound soars after BoE; OPEC meeting and key data eyed

Posted on June 22, 2018 at 7:45 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index – which tracks the greenback’s performance against a basket of six major currencies – is lower on Friday, though by less than 0.1%. The index closed lower on Thursday, after touching its best levels in 11 months. In the UK, the pound soared after the BoE kept rates unchanged, but adopted a more hawkish tone, stoking expectations for a rate increase at the August meeting. STOCKS: US markets closed lower on Thursday, amid [..]

Eurozone’s PMIs expected to lose more steam, keeping euro under pressure – Forex News Preview

Posted on June 21, 2018 at 12:43 pm GMT

The Eurozone will see the release of its preliminary PMI figures for June on Friday, at 0800 GMT. Forecasts suggest the surveys may signal a further slowdown in the Eurozone’s growth momentum, and although that may not be much of a surprise for ECB policymakers, it may be another factor weighing on the already-battered euro. It’s no secret the Eurozone’s economy has lost momentum since the beginning of the year. While growth rates are still decent, the currency bloc has [..]

US Open Preview – Pound posts fresh lows ahead of BoE rate decision; oil tumbles

Posted on June 21, 2018 at 10:57 am GMT

Here are the latest developments in global markets: FOREX: Dollar/yen lacked direction for a third day, moving sideways around 110.40 (+0.05%), while the dollar index hit a fresh 11-month high at 95.52 (%?), advancing on the back of a weaker euro and pound. Earlier in the day, US 10-year government bond yields had spiked to a 1-week high of 2.95% but they soon returned to 2.91%. Euro/dollar was in pain as trade uncertainties remained in the air, while in Italy, Eurosceptic Alberto Bagnai, was appointed as the [..]

European Open Preview – Dollar reaches new heights; Bank of England at the center of attention

Posted on June 21, 2018 at 7:44 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index is 0.3% higher on Thursday, touching a fresh high for 2018. Safe-haven currencies such as the yen and the Swiss franc are on the back foot, down by nearly 0.3% and 0.2% respectively against the greenback as trade concerns have moved to the background for now. Commodity-linked currencies like the loonie, aussie, kiwi, are also on the retreat, with the first two trading at one-year lows versus the dollar. [..]

US Open Preview – Sterling ticks down to fresh 7-month lows ahead of Parliamentary vote

Posted on June 20, 2018 at 11:57 am GMT

Here are the latest developments in global markets: FOREX: In the absence of key data releases, the dollar was trading flat against the safe-haven yen at 110.04 , while the dollar index was also steady at 95.07 as investors were eagerly waiting to see how the tit-for-tat game between China and the US will evolve. The euro continued to struggle for the second day, changing hands lower at 1.1557 (-0.26%), with the European Commission giving its final approval for tariffs to be imposed on imported US goods worth [..]

European Open Preview – Asian stocks gain as risk sentiment recovers; House of Commons votes on Brexit amendments

Posted on June 20, 2018 at 7:51 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index is lower on Wednesday, though by less than 0.1%, giving back some of the gains it posted in the previous session as the currency with the most weight in the index – the euro – tumbled. The haven-perceived yen is also on the retreat, paring some of the gains it posted yesterday. STOCKS: Wall Street closed lower on Tuesday, amid fears over an escalating US-China trade spat and [..]

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