EURUSD

Technical Analysis – EURUSD turns negative after fall below SMAs

Posted on September 28, 2020 at 6:43 am GMT

EURUSD has reversed back down after finding resistance at the 29-month high of 1.2009 achieved on September 1. The momentum indicators are pointing to a neutral to negative bias in the short term with the RSI standing in the negative territory and the MACD heading south below its trigger line. Moreover, the 20- and 40-day simple moving averages (SMAs) are posting a bearish crossover, indicating a reversal move. Further losses should see the inside swing high from January 2019 at [..]

Week Ahead – Markets feel the blues ahead of US employment report

Posted on September 25, 2020 at 12:00 pm GMT

A perfect storm of bad news has thrown global markets into disarray. America is running out of stimulus, fears of a constitutional crisis after the election are running rampant, Europe is wrestling with a second virus wave, and central banks have moved from ‘all in’ to ‘check’ in poker terms. Considering all this, the upcoming US employment report could be a make-or-break event for the dollar and equities. In the political arena, Brexit talks will resume in Brussels while Trump [..]

Daily Market Comment – Stimulus talks calm market nerves; dollar eases

Posted on September 25, 2020 at 9:01 am GMT

White House and Democrats restart stimulus talks, stocks come back to life But virus resurgence and slowing recovery continue to weigh on markets Dollar off highs, pound and aussie bounce back, but euro adrift Mnuchin-Pelosi talks revive fiscal stimulus hopes Fresh efforts to break the stalemate in the negotiations for a new virus relief bill in the United States have provided a much-needed boost to sentiment in a week where markets have been struggling to find anything to cheer about. [..]

Daily Market Comment – Stocks dive again as recovery in doubt; dollar stands tall

Posted on September 24, 2020 at 9:10 am GMT

Global equities follow Wall Street lower as fears of major winter wave mount Fed’s call for more fiscal stimulus falls on deaf ears Dollar trounces rivals, commodity currencies sink Stocks slump as optimism fades Rising pessimism about the prospect of a swift economic recovery from the pandemic dragged down equities on Thursday. The rout in global stock markets follows a sharp slide on Wall Street on Wednesday when the Nasdaq Composite plunged by 3% and the S&P 500 lost 2.4%. [..]

Technical Analysis – EURUSD takes a dive; positive divergence challenges the move

Posted on September 24, 2020 at 7:20 am GMT

EURUSD appears to have adopted a negative trajectory, after a near two-month gradual easing in its ascent, breaking below all simple moving averages (SMAs) and the Ichimoku cloud. The downward sloping 20- and 100-period SMAs and their bearish crossovers of the 200-period SMA may aid in dampening the pair further. Furthermore, the falling Ichimoku lines also suggest negative momentum is increasing. In terms of sentiment, the short-term oscillators currently back the weakening picture. The MACD, in the negative region, is [..]

Daily Market Comment – Dollar climbs as virus gloom deepens

Posted on September 23, 2020 at 8:54 am GMT

Dollar extends gains as recovery prospects falter on virus resurgence Wall Street rebound fails to set markets alight Euro sags after poor PMIs; pound sinks on new virus curbs Rate cut expectations pummel aussie and kiwi Dollar shines as storm builds over global economy Markets were struggling to put up a positive front on Wednesday as the worsening virus outlook in Europe and the fading prospect of additional fiscal stimulus in the United States heightened recessionary fears. The stimulus-infused risk [..]

EU flash PMIs may not revive recovery hopes as virus threat rises – Forex News Preview

Posted on September 21, 2020 at 3:33 pm GMT

The significant slowdown in Eurozone’s PMI readings dashed hopes of a V-shaped recovery in August. A month later, the new update due on Wednesday at 09:00 GMT is not expected to plug the hole. Perhaps the outlook for the euro area may remain cloudy as virus cases have started to rise at an alarming rate. With forecasts placed close to previous figures, any negative surprise could hurt the euro unless dollar weakness comes to the rescue again. Alternatively, an upbeat [..]

Daily Market Comment – Yen on the up, stocks slump as risks mount; dollar looks to flurry of Fed speakers

Posted on September 21, 2020 at 9:14 am GMT

Worsening virus outlook casts shadow as US election risks, low prospect for fiscal stimulus add to worries Yen outperforms but dollar subdued before Fed begins charm offensive Stocks selloff accelerates after Wall Street falls for third straight week Fresh lockdown fears dampen mood An unrelenting rise in coronavirus cases globally is weighing on sentiment at the start of the trading week as investors increasingly question their rosy predictions about the recovery. Europe is at the centre of the latest resurgence, [..]

Technical Analysis – EURUSD returns inside the channel; neutral in short-term

Posted on September 21, 2020 at 7:48 am GMT

EURUSD opened with a soft positive tone on Monday, refusing to abandon the ascending channel that directed the price to a fresh 17-month high of 1.2009 earlier this month. The rebound near the 50-day simple moving average (SMA) and the 1.1750 level last week signaled that the bulls are still in play, but the momentum indicators have yet to show strength. The RSI, although above its 50 neutral mark, remains around a descending trendline, while the MACD continues to weaken below [..]

Week Ahead – Tracking the recovery: is Europe lagging the US?

Posted on September 18, 2020 at 12:54 pm GMT

The latest flash PMI releases will dominate the economic agenda next week as the recovery in the United States appears to be picking up a gear, while the European rebound may have hit a snag. The tables have been turning lately in the US vs Eurozone recovery story, threatening to unravel the euro rally. Trying to predict the economic comeback from the pandemic will also be preoccupying policymakers at the Reserve Bank of New Zealand at their September meeting amid [..]

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