FX Daily Outlook | 07-04-17
Posted on April 7, 2017 at 8:26 am GMT[..]
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Technical Analysis – EURGBP bearish bias with the price below the 50- and 200-day moving averages
Posted on April 7, 2017 at 7:22 am GMTEURGBP is currently up from the day’s open at a level where it more than made up for yesterday’s decline. Yesterday’s low constitutes a four-day low. The RSI and MACD indicators are projecting a negative short-term bias for the pair as RSI is in bearish territory at 43 and the MACD histogram is below zero and the red signal line. The 50- and 200-day moving averages (MAs) which roughly coincide at 0.8592 and 0.8596, together with the 0.86 handle, a [..]
Forex News – Sterling jumps after positive services PMI; UK economic outlook not so upbeat
Posted on April 5, 2017 at 10:56 am GMTThe UK services PMI for the month of March was released today beating estimates and coming at a three-month high. The news was welcomed, especially after manufacturing and construction PMIs fell short of expectations earlier in the week. The services sector is the prime contributor to UK Gross Domestic Product. Looking at the actual figure for Markit/CIPS services PMI, that stood at 55.0 as opposed to the 53.5 expected by analysts. The number was also an improvement over February’s 53.3. [..]
Forex Market Review (European Session) – Eurozone CPI disappoints; dollar flat
Posted on March 31, 2017 at 3:48 pm GMTMarket participants had a lot of information to digest in terms of economic releases as, among others, the day saw the release of final UK GDP data for the fourth quarter of 2016, Eurozone flash inflation estimates for March and US personal consumption expenditure (PCE) figures for the month of February. The greenback, as measured from the dollar index, was flat in late European session trading. Still the US currency had an otherwise strong week and should the dollar pick [..]
Forex News – Euro falls on weaker-than-expected inflation data; ECB gains some respite
Posted on March 31, 2017 at 12:01 pm GMTThe euro declined today relative to other major currencies after flash inflation data for the month of March came in lower than expected. The negative surprise in German and Spanish inflation figures for March released yesterday hinted to today’s numbers. Delving into the numbers, the flash estimate for annual inflation was at 1.5% with forecasts projecting a 1.8% annual figure for March. February’s annual inflation number stood at 2.0%, marking a four-year high at the time. The fall in inflation [..]
Technical Analysis – EURGBP bearish bias after yesterday’s decline; 4-week low recorded today
Posted on March 31, 2017 at 7:13 am GMTEURGBP has edged higher since the day’s open. Yesterday’s fall and the four-week low hit today are setting a bearish bias for the pair. Adding to the negative bias mentioned before is the RSI indicator which is below the 50 neutral level at 43. Moreover, the stochastics are bearish with the %K line below the slow %D one. Note though that %K has fallen into oversold territory, therefore a near-term reversal is not to be ruled out. The 50% Fibonacci [..]
Forex Market Review (European Session) – Brexit dominates investor attention; Sterling resilient
Posted on March 29, 2017 at 3:43 pm GMTThere were some data releases today, particularly out of the UK as well as pending home sales numbers for the US, but those were shrugged off by investors for the most part as the highlight of the day was the triggering of Article 50 for the UK to officially move ahead with the process of exiting the European Union. British Prime Minister Theresa May’s triggering of Article 50 today marks a historic moment for the UK as the nation will [..]
FX Daily Outlook | 29-03-17
Posted on March 29, 2017 at 9:56 am GMT[..]
European Session – Dollar index below 99 on Trump reform concerns; index lowest in four months
Posted on March 27, 2017 at 3:04 pm GMTIn today’s European session the dollar continued declining on the back of Friday’s failed attempt by the Trump administration to repeal the previous administration’s Affordable Care Act (ACA), widely known as Obamacare. In terms of economic data, the Ifo surveys measuring business morale in Europe’s biggest economy, Germany, all exceeded expectations. The dollar index fell below the 99 level for the first time since November 11 to reach 98.86 and was last down seven-tenths of a percent relative to Friday’s [..]
Technical Analysis – EURGBP bullish phase threatened as prices challenge 0.8700
Posted on March 17, 2017 at 3:09 pm GMTEURGBP rallied to a high of 0.8786 on March 13 but reversed lower as RSI reached overbought levels at 70. The pair has been consolidating just above the key 0.8700 level since then and is challenging this level today. The near-term bias remains neutral but a daily close below 0.8700 will shift the bias to bearish. This level coincides with the 23.6% Fibonacci retracement level of the recent uptrend from 0.8401 to 0.8786. A further decline would target the 0.8600 [..]
