All Articles Tagged - EURGBP

Technical Analysis – EURGBP downside correction finds a base on ascending trendline

Posted on August 27, 2019 at 6:40 am GMT

EURGBP remained below the 0.9100 level despite bouncing on the critical 3-month old ascending trend-line last week. With the RSI losing steam slightly under its 50 neutral mark and the MACD weakening below its red signal line, the short-term session is expected to appear neutral-to-bearish. The upward-sloping trend-line could play a key role in keeping the market moving in an upside direction. However if the bears manage to push the wall down, the 38.2% Fibonacci of 0.9000 of the upleg [..]

Daily Market Comment – Markets in mayhem as US hits China with new tariffs

Posted on August 26, 2019 at 8:17 am GMT

Risk aversion back in play as Washington escalates trade war But risk-off moves reverse on Monday after Trump calms spirits, for now US durable goods orders today eyed for signs of investment slowdown Yen soars, stocks crumble as trade war intensifies to a new level Trade fears continue to wreak havoc in global markets, with risk aversion making a sharp comeback on Friday after Washington and Beijing exchanged another round of retaliatory tariffs, escalating the trade war to a whole [..]

Technical Analysis – EURGBP to consolidate losses in short-term; bullish in medium-term

Posted on August 21, 2019 at 6:59 am GMT

EURGBP registered sharp losses for the first time after 14 weeks following the peak to an almost decade high of 0.9323. The market switched to consolidation this week, moving sideways around the 0.9100 support area, with the flattening RSI and the falling MACD painting an overall neutral-to-bearish picture for the short-term. Should the downside correction stretch below 0.9100, the area between 0.9060 and the 50-day simple moving average could act as immediate support before the focus turns to the 0.9000 round-level where the [..]

Technical Analysis – EURGBP uptrend pauses for breath

Posted on August 14, 2019 at 11:37 am GMT

EURGBP recorded a steep rally in recent weeks to touch the 0.9325 area, before retreating somewhat. The price structure on the daily chart consists of higher highs and higher lows, while the 50-day simple moving average (SMA) has also crossed above the 200-day one, keeping the outlook positive overall. Momentum oscillators, however, suggest that the latest pullback may continue for now. The RSI has flattened just below its 70 level, while the MACD – although positive – could test its [..]

Daily Market Comment – Dollar and stocks rally in relief after tariff delays

Posted on August 14, 2019 at 7:54 am GMT

US tariff exemptions lift risk sentiment – stocks soar, yen retreats But optimism tempered by weak Chinese data overnight UK inflation data and Eurozone GDP coming up Trump’s tariffs delay revives risk appetite, but is this a game changer? Global risk sentiment came roaring back on Tuesday, with US stock markets closing 1.5% higher and WTI oil gaining 4%, after the Trump administration said it will delay tariffs on several Chinese products until December and exempt some goods altogether. [..]

Daily Market Comment – Hong Kong concerns keep risk aversion in play

Posted on August 13, 2019 at 7:57 am GMT

Safe havens shine and stocks retreat – mainly on fears about Hong Kong Deteriorating political outlook in Italy likely adding to risk aversion Busy calendar today, with crucial UK, German, and US data coming up Stocks stumble on reports China may crack down on Hong Kong protests Risk aversion was the name of the game on Monday, as worrisome political headlines triggered another rotation away from risky assets like stocks, and into the safety of havens like the Japanese [..]

Daily Market Comment – Sterling feels the burn; Trump plays trade ‘hardball’

Posted on August 12, 2019 at 7:55 am GMT

Sterling resumes downtrend as UK economy shrinks, Brexit fears intensify Yen extends gains after Trump says he isn’t ready to make a deal Calendar practically empty today, in a thin liquidity environment Pound feels the burn as UK economy contracts The British pound remains the ‘sick man’ of the FX market, plummeting to a new three year low against the euro on Friday, after the latest GDP figures showed that the economy contracted in Q2 for the first time since [..]

Technical Analysis – EURGBP could soften in short-term

Posted on August 8, 2019 at 11:36 am GMT

EURGBP flied even higher this week to top its 2-month old rally at 0.9248, the highest mark reached in almost two years. The spotlight is now on the 0.9300 round-level, where any violation may drive the price towards the 0.9400 mark. However, with the RSI losing steam below its 70 overbought mark, the bullish pressures may rather weaken, turning the short-term picture into a neutral one. It’s also worth noting that the pair is trending in overbought waters in the weekly chart [..]

Daily Market Comment – Stocks sink as Trump escalates trade war; US payrolls due

Posted on August 2, 2019 at 8:00 am GMT

Equities plunge, yen skyrockets as trade war fears heighten Nonfarm payrolls may present a one-sided risk for the dollar today Chance of UK General Election rises as Johnson’s working majority slips Risk aversion takes over markets as Trump threatens new tariffs American equities erased some early gains to close about 1% lower yesterday, after the US President took the trade war with Beijing to the next level – announcing that he will impose a 10% tariff on all remaining products [..]

Daily Market Comment – Fed’s ‘hawkish’ cut propels dollar higher; BoE next

Posted on August 1, 2019 at 8:03 am GMT

Fed cuts by 25bp, but appears hesitant to commit to more Dollar soars to two-year high versus euro, may have more room to gain for now BoE likely to adopt a more dovish tone at today’s meeting Stocks retreat after Fed, despite “constructive” trade talks Not-so-dovish Fed sends dollar soaring As expected, the Federal Reserve cut rates by 25 basis points (bp) yesterday, citing global growth and trade uncertainties coupled with muted inflation pressures as the driving forces behind the [..]

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