All Articles Tagged - EURGBP

Technical Analysis – EURGBP unlocks 6-month high; looks overbought

Posted on July 17, 2019 at 6:55 am GMT

EURGBP skyrocketed in the preceding couple of days, challenging a new six-month high of 0.9046. The rebound on the 0.8490 drove the pair to an upside rally above the 20- and 40-simple moving averages (SMAs) in the daily timeframe, confirming the bullish tendency. However, looking at the technical indicators, they seem overbought, suggesting a possible downside pullback. The MACD oscillator is weakening a bit slightly below the trigger line in the positive area, while the RSI is flattening after it [..]

Daily Market Comment – US retail sales & Powell’s remarks to set the tone

Posted on July 16, 2019 at 7:55 am GMT

US retail sales and remarks by Powell top the agenda today UK jobs data may be watched as Brexit news flow remains limited Kiwi ticks up, despite lingering RBNZ rate-cut speculation EU Commission chief awaits Parliamentary confirmation Dollar looks to US retail sales and Powell’s remarks The greenback recovered some ground to start the week, in the absence of any noteworthy US news to drive the price action. That may change today though, with the release of the nation’s retail [..]

Technical Analysis – EURGBP pierces 0.90 level; cautiously bullish in short-term

Posted on July 10, 2019 at 8:29 am GMT

EURGBP is flirting with the 0.90 level for the second day in a row, keeping its uptrend above its simple moving averages (SMAs) and near six-month highs. The RSI is a shy below its 70 overbought mark, while the MACD seems to be regaining momentum under its red signal line, suggesting a positive but cautious trading in the short-term. On the upside, the bulls could rest around a former resistance around 0.9032 before heading towards the 0.9060 key level. Slightly higher, [..]

Technical Analysis – EURGBP uptrend hits obstacle; starts losing momentum

Posted on July 5, 2019 at 12:48 pm GMT

EURGBP has hit a strong wall at the 78.6% Fibonacci retracement of the downleg from 0.9111-0.8471 around 0.8974. Momentum indicators remain in bullish territory but are sending out mixed signals for the near-term picture. The stochastics are pointing upwards, suggesting further advances are possible in the coming days. However, the RSI has flatlined, indicating the latest upleg may have run its course. If the positive momentum holds and prices manage to break above immediate resistance at the 78.6% Fibonacci, the [..]

Daily Market Comment – US payrolls could decide how deep Fed cuts in July

Posted on July 5, 2019 at 7:53 am GMT

US employment data today will be crucial for Fed rate-cut expectations and the dollar Canadian jobs figures also due, as loonie touches new 2019 high In Europe, bond markets continue to price in QE, but euro snoozes US payrolls may dictate how deep Fed cuts in July and dollar’s path After a relatively quiet session on Thursday, the spotlight will fall on the US employment data today. Markets are still pricing in a ~25% probability for a ‘double’ rate cut [..]

Daily Market Comment – US stocks sail into uncharted waters; loonie shines

Posted on July 4, 2019 at 7:47 am GMT

American equities soar to record highs, as ‘bad news is good news’ again Loonie advances to best levels this year on Fed-BoC policy divergence Trump calls for weaker dollar, but dollar yawns US stocks hit new records American equity markets sailed into uncharted waters yesterday, with all the major indices – the S&P 500 (+0.77%), Dow Jones (+0.67%), and Nasdaq Composite (+0.74%) – closing at new record highs. In a classic case of ‘bad news is good news for stocks’, [..]

Daily Market Comment – Lagarde to succeed Draghi at ECB; US data eyed

Posted on July 3, 2019 at 8:09 am GMT

Lagarde to take over ECB after Draghi; markets bet on more QE BoE’s Carney strikes dovish tone, drags pound down Oil retreats as traders ‘sell fact’ after OPEC US ADP jobs and ISM non-manufacturing to drive dollar today IMF’s Lagarde chosen as next ECB chief In an otherwise quiet session on Tuesday, the biggest piece of news was that EU leaders finally reached a consensus on who to nominate for the Union’s top jobs. German defense minister Ursula von der [..]

Daily Market Comment – RBA cuts, but aussie won’t stay down; dollar recovers

Posted on July 2, 2019 at 7:57 am GMT

RBA reduces rates again, but aussie remains unfazed Dollar recovers as July rate-cut bets are scaled back EU leaders resume talks over top jobs; Global PMIs due RBA cuts, but can’t keep the aussie down The Reserve Bank of Australia (RBA) slashed interest rates earlier today, for the second time in two meetings, indicating that the move will help reduce unemployment and boost inflation. The cut was widely signaled in advance and largely priced in ahead of the event, so [..]

Daily Market Comment – US and China agree to ceasefire, stocks & dollar cheer

Posted on July 1, 2019 at 8:21 am GMT

Trade ceasefire propels stocks and dollar higher, sends safe havens lower Oil rejoices on trade truce and OPEC agreement ISM manufacturing PMI today may be crucial for Fed expectations Risk sentiment lifted as Trump & Xi decide to restart trade talks The pivotal meeting between the American and Chinese leaders concluded with the two sides agreeing to restart trade negotiations and hold off on imposing any new tariffs ‘for the time being’. What stood out was that the US also [..]

Technical Analysis – EURGBP retests 5-month high; golden cross awaited

Posted on June 26, 2019 at 8:03 am GMT

EURGBP found some footing around the 20-day simple moving average (SMA) last week and returned to a bullish trend thereafter. The price is currently testing the recent five-month peak of 0.8973 and a former restrictive area, where any decisive close higher may prove valuable to the market. The red Tenkan-sen however remains flat above the blue Kijun-sen and the RSI is currently flirting with overbought levels, pointing to a softer short-term trading. A pullback may meet immediate support around the 0.8935 barrier, [..]

Legal disclaimer: The material does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instruments. XM accepts no responsibility for any use that may be made of these comments and for any consequences resulting in it. No representation or warranty is given as to the accuracy or completeness of this information. Consequently, any person acting on it does so entirely at their own risk. The research and analysis does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it.

It has not been prepared in accordance with legal requirements designed to promote the independence of research, and as such it is considered to be marketing communication. Although we are not specifically constrained from dealing ahead of the publication of our research, we do not seek to take advantage of it before we provide it to our clients. We aim to establish, maintain and operate effective organisational and administrative arrangements with a view to taking all reasonable steps to prevent conflicts of interest from constituting or giving rise to a material risk of damage to the interests of our clients. We operate a policy of independence, which requires our employees to act in our clients’ best interests and to disregard any conflicts of interest in providing our services.

CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losing all of your invested capital, so please make sure that you fully understand the risks involved.

EURGBP

XM Live Chat