All Articles Tagged - EURUSD

Daily Market Comment – Euro/dollar kisses parity, stocks slide as caution reigns

Posted on July 12, 2022 at 8:31 am GMT

Euro tests parity against US dollar, similar moves across FX arena Stocks and oil prices edge lower in the shadow of China lockdowns Gold cannot shine either despite cautious mood, extends selloff Hello parity A sense of nervousness has descended on global markets once again, with traders slashing their exposure to riskier assets and taking shelter in the only hedge that works – the mighty US dollar. The reserve currency has been riding a perfect storm thanks to its unique [..]

Technical Analysis – EURUSD plunges to fresh 20-year low; parity level next

Posted on July 11, 2022 at 1:13 pm GMT

EURUSD returned lower again to continue the downside movement, checking the next crucial level which is parity. The RSI and the MACD indicators have recently dipped below the 30 and trigger line respectively, suggesting that the price path could be lower. Given the foregoing discouraging signals and the negative trajectory in the simple moving averages (SMAs), parity is the next stop as the price is just above it for 80 pips. Even lower, the market may meet the 0.9610 support, taken from the inside swing high [..]

Technical Analysis – EURUSD aims for parity as oversold signals not convincing

Posted on July 11, 2022 at 11:26 am GMT

EURUSD bears returned on Monday to fight for parity after taking a quick break on Friday, which helped the price close mildly positive. The pair has also charted a bullish hammer candlestick around its 20-year low of 1.0071 in the same day, though the encouraging formation is currently getting under scrutiny. Oversold conditions are evident as the price has been testing the lower Bollinger band for a couple of sessions now. The RSI and the Stochastics are also reflecting an overstretched decline, [..]

Daily Market Comment – Dollar rules the waves, yen keeps sinking, equities cool off

Posted on July 11, 2022 at 9:17 am GMT

Solid jobs report cements case for Fed hikes, keeps dollar in the lead Yen slides to fresh two-decade lows after Japan’s upper house election Wall Street futures flash red ahead of earnings season, busy week ahead The dollar show The pendulum in global markets continues to swing back and forth between inflation and growth concerns. Any good news on the economy stokes fears about rampant inflation while any bad news adds credence to recession risks, but the US dollar ends [..]

Week Ahead – US inflation on the menu, BoC and RBNZ to raise rates

Posted on July 8, 2022 at 10:15 am GMT

The summer calm will have to wait a little longer as the coming week is filled with crucial events. Canada and New Zealand are geared to raise interest rates, although their currencies are ultimately at the mercy of global recession risks. In China, it’s a close call whether the economy contracted in Q2. Most importantly, US inflation might finally be losing its punch. The dollar show The US dollar rally went into overdrive this week, leaving a trail of destruction [..]

Daily Market Comment – Muted tone ahead of US jobs report as Abe shooting lifts yen

Posted on July 8, 2022 at 9:28 am GMT

Dollar keeps climbing as Fed officials talk rate hikes ahead of June payrolls data Stocks, bond yields and commodities move in tandem, inch lower after rebound Shooting of ex-PM Abe in Japan adds to risk-off vibe, yen firms Markets in anxious wait for NFP report Recession worries may have ebbed somewhat this week, making way for a rebound in equities, but investors continue to be gripped by fear amid the extreme uncertainty surrounding the outlook. Economic indicators in America, Europe [..]

Technical Analysis – Will EURUSD break a 20-year low and test the parity level?

Posted on July 7, 2022 at 10:13 am GMT

EURUSD is sliding to a fresh 20-year low below the round number of 1.0200, and it is getting closer and closer to the parity level. If the market breaks below this crucial line, it may be able to break through the barrier at 0.9600, which was taken from the lows in August 2002. The momentum indicators are reflecting this extreme selling interest as they both continue to decline and have been unable to get above their neutral level throughout the course of the last month. [..]

Daily Market Comment – Stocks stage mild rebound, pound climbs as Johnson set to quit

Posted on July 7, 2022 at 9:27 am GMT

Stocks in recovery mode despite hawkish Fed minutes, which spur yields higher Lower commodity prices might be aiding sentiment as WTI falls below $100 Pound catches a bid on speculation PM Johnson is about to resign Recession gloom eases as stocks edge up The cloud has started to lift slightly over the markets even as recession risks remain elevated and worries about overtightening by the Fed and other central banks persist. The broad pullback in government bond yields appears to [..]

Oil prices are the only trade that matters – Special Report

Posted on July 6, 2022 at 2:27 pm GMT

Energy prices have turned into the most important issue in economics. Their trajectory will shape the future behavior of consumers, central banks, and investors alike. Oil prices have finally started to lose power, joining the ranks of other struggling commodities. If the rout deepens, both inflation and recession nerves could calm down a little, opening the door for relief rallies in FX and equity markets. All about oil There has been a seismic shift in global markets lately. Concerns around [..]

Technical Analysis – Will EURUSD unlock parity level soon?

Posted on July 6, 2022 at 12:36 pm GMT

EURUSD is plunging to a fresh 20-year high below the 1.0200 round number, slipping towards the parity level which is a psychologically significant level. Underneath this key line, the market may unlock the 0.9600 barrier, taken from the lows in August 2002. Technically, the momentum indicators are mirroring this aggressive selling interest as both are falling further, failing to jump above their neutral level over the last month. The RSI is approaching the oversold territory, while the MACD is strengthening the bearish bias. If, [..]

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