EURUSD

Daily Market Comment – Stocks slammed as Congress plays politics

Posted on March 23, 2020 at 10:51 am GMT

Global markets tank again amid a cascade of worrying virus developments US fiscal package stuck in the Senate, igniting fears of a severe delay Yen leads FX market, kiwi sags as RBNZ launches QE, dollar resilient Wall Street futures in the red as Congress dithers and delays Financial markets remain in a state of panic, with world stocks tanking on Monday to extend heavy losses from Friday, as a worsening pandemic and mounting national lockdowns leave traders no choice but [..]

Technical Analysis – EURUSD re-activates bearish structure in short- and medium-term

Posted on March 23, 2020 at 8:43 am GMT

EURUSD re-activated its two-year old downtrend after forcefully clearing the 1.0777 floor last week to print fresh lows at 1.0635 on Monday. The price is currently pushing efforts to recoup some lost ground but the slight improvement in the RSI and the Stochastics, which are still well into the bearish area and near oversold terittory, is not convincing yet, keeping the short-term bias negative. The downside reversal in the 20-day simple moving average (SMA) that is ready to slip back [..]

Eurozone PMIs expected to plummet, but ECB likely done for now – Forex News Preview

Posted on March 23, 2020 at 7:16 am GMT

Economic data has become sidelined during the virus crisis as the market’s attention has focused on policymakers’ response to the fast-spreading pandemic. However, as we now start receiving data for March – when the outbreak escalated outside of China – investors are likely to start taking more notice of the incoming releases. The flash PMI reports will be the first big numbers for March in the euro area, due on Tuesday at 09:00 GMT. Flash PMIs to reveal virus damage [..]

Week Ahead – Emperor dollar reigns supreme amid market apocalypse

Posted on March 20, 2020 at 1:47 pm GMT

The virus pandemic continues to wreak havoc on the global economy and financial markets. Stocks are in freefall, commodity currencies are getting hammered, and even safe havens like gold can’t shine as the market meltdown is forcing major funds to deleverage by ‘selling everything’. In this panicky environment, investors are unlikely to pay much attention to economic data, though the US initial jobless claims might be an exception. The big winner from all the chaos is the greenback, which has [..]

Technical Analysis – EURUSD bounces quickly up after hitting 3-year low

Posted on March 19, 2020 at 1:49 pm GMT

EURUSD had a flash downside correction below the downward-sloping channel today, stretching its ten-day old sell-off to a three-year low of 1.0725. The MACD continues to lose momentum below its trigger line, the RSI is making its way down below its 30 oversold level, while the stochastic oscillator is reversing south again, all signaling a bearish trading in the short-term. Also, the 20- and the 40-period simple moving averages (SMAs) are following the price action down. Should weakness extend, support could be initially detected within the 1.0775 – 1.0800 support area before the 1.0725 trough [..]

Daily Market Comment – Wall Street rebound falters again; rush for dollar eases slightly

Posted on March 18, 2020 at 10:01 am GMT

US shares rally on Fed liquidity boost but futures turn negative as virus uncertainty lingers Trump pushes for $1 trillion stimulus as governments step up virus response Dollar funding squeeze eases, giving other currencies a reprieve Stock markets unable to stop the bleeding Stocks were on the slide again on Wednesday as yesterday’s sharp rebound on Wall Street proved unsustainable amid fears all countries affected by the coronavirus are headed for a complete and possibly prolonged lockdown. Such a scenario [..]

Daily Market Comment – Stocks steadier after crashing again; dollar also firmer

Posted on March 17, 2020 at 9:17 am GMT

Wall Street suffers biggest drop since 1987 crash as investors flee stocks Growing virus response still not enough to quell market turmoil Gold remains on a down path as panicky investors turn to cash Pound underperforms along with commodity and EM currencies Bloodbath on Wall Street There was no escaping the market carnage on Monday as extraordinary moves by the Federal Reserve and other central banks to restore investor confidence failed spectacularly. Shares on Wall Street plunged by the most [..]

Daily Market Comment – Stimulus bonanza fails to calm markets as Europe goes on lockdown

Posted on March 16, 2020 at 9:39 am GMT

Fed slashes rates again and relaunches QE, but markets still gripped by panic RBNZ and BoJ also announce emergency moves More fiscal stimulus on the way but will it be enough? Dollar and stocks slip as China output slump fuels recession worries Fed cuts rates to 0% but investors fear the worst An unprecedented wave of central bank intervention was unable to restore order in the markets on Monday even as policymakers stepped up their response to the coronavirus crisis. [..]

Technical Analysis – EURUSD in quarantine between key borders; trend signals improving

Posted on March 16, 2020 at 8:49 am GMT

EURUSD is congested between the 1.1050 and 1.1220 borders formed by the 61.8% and 38.2% Fibonacci retracements levels of the 1.0777-1.1495 upleg after last week’s free-fall. From a technical point of view, the rising RSI indicates that the pair could recoup some lost ground in the short-term, though with the MACD keep decelerating below its red signal line, any upside correction is in doubt at the moment. Moreover, it remains to be seen if the 20-day simple moving average (SMA) [..]

Week Ahead – Pressure on Fed and BoJ to pump more stimulus; SNB meets too

Posted on March 13, 2020 at 1:50 pm GMT

As the coronavirus pandemic continues to wreak economic havoc across the globe, the pressure is on central banks to provide more stimulus amid the fast deteriorating outlook. The US Federal Reserve has already made an emergency rate reduction and is widely anticipated to follow it up with another cut next week. The Bank of Japan will be a more interesting one, however, as, although some action is certain, investors aren’t quite sure what form it will take. One central bank [..]

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