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EURUSD

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Technical Analysis – EURUSD capped by cloud top; neutral in short term

Posted on October 29, 2019 at 6:43 am GMT

EURUSD has turned neutral in the short term after falling into to the Ichimoku cloud. But despite being restricted by the cloud top, the risks for the pair are to the upside as the RSI is still in positive territory, though it has flatlined, while the MACD remains some distance above zero, having just slipped below its red signal line. Another positive signal is from the Tenkan-sen line, which continues to rise and increase its distance from the Kijun-sen line. [..]

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Week ahead – Fed to cut rates, will BoJ follow? US payrolls on the menu too

Posted on October 25, 2019 at 12:49 pm GMT

There’s a barrage of crucial events coming up next week, with three major central bank meetings and an avalanche of economic data set to dominate the agenda. The Fed is almost certain to cut rates again, but may signal that the bar for any further action is high. The Bank of Japan is a wild card – it’s a close call whether it will cut too or wait a little longer. In Canada, the BoC will probably maintain a neutral [..]

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Daily Market Comment – Pound slips after Johnson calls December election; dollar edges up

Posted on October 25, 2019 at 8:04 am GMT

British PM Johnson calls for an early election in December, but opposition parties are not so sure Pound dips on election uncertainty; euro also slides after Eurozone PMIs disappoint Mixed US data supports dollar, but Fed still expected to cut next week Is UK headed for pre-Christmas election? UK Prime Minister Boris Johnson has called for an early election on December 12 to break the latest Brexit impasse in Parliament. However, it is unclear if he will win the required [..]

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Daily Market Comment – Markets steady as trade and Brexit headlines hit pause; ECB coming up

Posted on October 24, 2019 at 8:27 am GMT

Major pairs move sideways amid lack of fresh developments on the trade and Brexit fronts Speech by US Vice President on China eyed for clues on trade talks Stocks edge up despite mixed earnings ECB to kick off busy seven days for central banks Calm in FX markets but risks lurk Major pairs were trading within their recent ranges on Thursday as markets were offered a rare respite from Brexit and trade war headlines. The pound was marginally lower at [..]

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US durable goods data due as Fed prepares to cut again – Forex News Preview

Posted on October 23, 2019 at 9:44 am GMT

The latest US durable goods orders, a proxy for capital expenditure, are due out on Thursday at 12:30 GMT. The preliminary Markit PMIs for October will follow a few minutes later. While important, these are unlikely to change the narrative around the Fed, or the dollar. Much of the greenback’s direction will frankly depend on other currencies, mainly on the pound and euro, which may still have some room to advance as Brexit risks fade. That said, a not-so-dovish rate [..]

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Daily Market Comment – Johnson to miss Brexit deadline; pound slips, risk appetite fades

Posted on October 23, 2019 at 8:06 am GMT

British MPs reject Johnson’s fast track of Brexit legislation EU expected to offer extension; could pave way for UK general election Pound and euro slip as dollar and yen edge up amid some risk-off No Brexit on October 31 Boris Johnson’s hopes of the UK leaving the EU on October 31 were dashed yesterday after the British Parliament rejected the prime minister’s proposed tight timetable of rushing through the Brexit deal legislation that would have enabled an orderly EU exit [..]

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ECB meeting: Draghi’s farewell to arms – Forex News Preview

Posted on October 22, 2019 at 1:35 pm GMT

The European Central Bank (ECB) will announce its decision on Thursday at 11:45 GMT, and a press conference will follow at 12:30 GMT. This will be the final meeting under President Mario Draghi, before Christine Lagarde takes over. No action is expected, so any market reaction will come from the hints on future easing. Given deep divisions within the ECB about more stimulus and a calmer global environment, policymakers are unlikely to signal more action for now, so the euro [..]

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ECB meeting: Draghi’s farewell to arms – Forex News Preview

Posted on October 22, 2019 at 1:33 pm GMT

The European Central Bank (ECB) will announce its decision on Thursday at 11:45 GMT, and a press conference will follow at 12:30 GMT. This will be the final meeting under President Mario Draghi, before Christine Lagarde takes over. No action is expected, so any market reaction will come from the hints on future easing. Given deep divisions within the ECB about more stimulus and a calmer global environment, policymakers are unlikely to signal more action for now, so the euro [..]

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Daily Market Comment – Pound steady ahead of Parliamentary Brexit debate; stocks boosted by trade optimism

Posted on October 22, 2019 at 8:12 am GMT

UK Parliament to begin debating Withdrawal Agreement bill Pound near highs but at risk if lawmakers derail Johnson’s Brexit plan US and China continue to send positive vibes on trade talks, lifting stocks Canadian dollar brushes off election concerns as Trudeau loses majority Busy week for UK Parliament; more headaches for Johnson ahead The Speaker of the House of Commons, John Bercow, continued to be a thorn on the side of the UK government after he blocked an attempt to [..]

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Technical Analysis – EURUSD climbs above 100-day SMA to test looming negative picture

Posted on October 21, 2019 at 9:13 am GMT

EURUSD buyers have ascended above 1.1145, which is the 50.0% Fibonacci retracement of the down leg from 1.1411 to 1.0878. The bounce off the broken downtrend line at 1.0990 – where the Tenkan-sen completed a bullish crossover – propelled the price through the Ichimoku cloud, overcoming various resistance obstacles. Momentum oscillators back a short-term positive outlook. The MACD has distanced itself above its red trigger line and into the positive zone, while the RSI has risen to the 70 level. [..]

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