All Articles Tagged - EURGBP

US Open Note – No mercy for the euro; BoJ policy decision, Meta earnings next in focus

Posted on April 27, 2022 at 2:15 pm GMT

Euro plummets as Russian gas issues resurface There was no mercy for the depressed euro during the late European trading hours on Wednesday. The already squeezed common currency sank to the lowest point since April 2017 against the US dollar, remaining the worst performer across the board as Russia’s state-owned multinational gas supplier Gazprom completely halted supplies to NATO members Poland and Bulgaria because of non-payments in roubles. Of course, the EU’s powerhouse Germany, which gets 40% of its gas [..]

Technical Analysis – EURGBP flirts with 200-day SMA below descending line

Posted on April 27, 2022 at 9:35 am GMT

EURGBP is flirting with the 200-day simple moving average (SMA) near 0.8440 after a successful daily close above it. The 20- and 40-day SMAs have posted a bullish crossover, but the technical indicators are mirroring the latest bearish sentiment. The RSI is ticking down in the positive region, while the stochastic oscillator is moving in the overbought region and is ready for a bearish cross within its %K and %D lines. Immediate resistance to further gains would likely come from the long-term descending line near 0.8490. [..]

US Open Note – Euro cheers on rate hike talk; stocks in the green as well

Posted on April 21, 2022 at 1:30 pm GMT

ECB’s rate hike talk intensifies It seems the European Central Bank (ECB) is prepping for the new reality of higher interest rates to fight inflation even though geopolitical developments around Ukraine keep clouding the Eurozone’s economic outlook. ECB’s Spanish Vice President Luis de Guindos endorsed yesterday’s hawkish talk from Latvian ECB governing council member Mārtiņš Kazāks, confidently approving the end of the regular APP bond purchases in July, while stating that from today’s perspective a rate hike in July, September and even [..]

Technical Analysis – EURGBP lacks direction in short-term; holds beneath SMAs

Posted on April 13, 2022 at 8:23 am GMT

EURGBP is consolidating beneath the 20- and 40-day simple moving averages (SMAs), holding within the Ichimoku cloud. The RSI indicator is pointing marginally up in the negative region, while the MACD is still strengthening its bearish move. If price action remains above 0.8295, there is scope to test the 40- and then the 20-day SMA currently at 0.8360 and 0.8367 respectively. Clearing these lines could see additional gains towards the 0.8380 resistance and the 200-day SMA at 0.8450. Rising above it [..]

Technical Analysis – EURGBP buyers re-emerge after one-week descent

Posted on April 6, 2022 at 1:45 pm GMT

EURGBP is seeing lingering downside risks despite an increase in buying interest around the 0.8327 level, which unfolded slightly below the simple moving averages (SMAs). That said, from the beginning of the year, the broader bearish trend has glided into a trading range that spans from a more than 5½-year low of 0.8202 until the 0.8512 high, and the directionless SMAs are reflecting the prolonged consolidation of the price within these boundaries. Currently, the falling Ichimoku lines are indicating that [..]

Technical Analysis – EURGBP surpasses descending line, hitting 3-month high

Posted on March 30, 2022 at 7:54 am GMT

EURGBP is ticking higher after it surpassed the 200-day simple moving average (SMA) and reached a fresh a three-month high around 0.8483. The price jumped above the medium-term descending trend line, showing some positive signs for more gains. The RSI indicator is flattening above the 50 level, while the MACD oscillator is stretching its positive momentum above its trigger and zero line. Also, in trend indicators the 20- and the 40-day SMAs created a bullish crossover. The pair could [..]

US Open Note – Pound unsurprised by Sunak’s mini budget; stocks moderately down

Posted on March 23, 2022 at 1:58 pm GMT

Gold steady, bond yields decelerate The military disaster in Ukraine remained mainly unchanged on Thursday, making investors wonder whether the ongoing talks between Russian and Ukrainian officials are indeed aiming for a ceasefire or are just a channel to persuade the opposite side to give up on its conditions. The next landmark on the geopolitical crisis will be the extraordinary NATO summit in Brussels on Thursday at the level of Heads of states and Governments, including the group of Seven and the [..]

Technical Analysis – EURGBP finds its feet at 61.8% Fibo but downside risks remain

Posted on March 23, 2022 at 11:06 am GMT

EURGBP’s latest decline traced the lower Bollinger band before unearthing some positive traction from the 0.8300 handle, which is the 61.8% Fibonacci retracement of the up leg from the more than 5½-year low of 0.8202 until the 0.8457 high. The longer-term 100- and 200-period simple moving averages (SMAs) continue to endorse the now one-month neutral trend, while the falling 50-period SMA is reflecting the recent dominance in bearish forces. Meanwhile, the short-term oscillators are indicating that bullish forces are strengthening. [..]

US Open Note – Pound corrects lower after dovish BoE; commodities up again

Posted on March 17, 2022 at 2:29 pm GMT

Dollar weaker after hawkish FOMC The US dollar continued to trade lower against a basket of major currencies for the third consecutive day to reach 98.19 despite the strong hawkish message from the FOMC policy meeting late on Wednesday. The Fed acknowledged the Ukrainian geopolitical risks and slashed its growth projections by almost half to 2.8% for 2022 but raised interest rates by a quarter-percentage as widely expected. Strikingly, however, it signaled six more rate increases this year and pledged [..]

Technical Analysis – EURGBP moves sideways after rebound falters

Posted on March 16, 2022 at 9:00 am GMT

EURGBP has been trending downwards in the long term, generating a distinctive structure of lower highs and lower lows. Although the pair managed to recoup part of its losses after finding its feet at the six-year low of 0.8202, the upper Bollinger Band seems to be capping its upside. The momentum indicators suggest that bullish forces remain in control. The MACD histogram is currently above both zero and its red signal line, while the RSI is hovering in the positive region. [..]

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