All Articles Tagged - EURUSD

Daily Market Comment – Fed bets embolden US dollar bulls, nuke stock markets

Posted on June 14, 2022 at 8:50 am GMT

Markets in disarray as traders scramble to price in Fed warpath S&P 500 enters bear market, crypto implodes, dollar powers up Despite all the panic, there’s also some encouraging news Bear market blues All hell has broken loose in financial markets. Another scorching hot US inflation report shattered hopes that the Fed might be able to take its foot off the brakes later this year, sending traders scrambling to recalibrate the trajectory for interest rates and wreaking havoc in every [..]

Technical Analysis – EURUSD deepens bearish bias as key support breached

Posted on June 13, 2022 at 6:56 am GMT

EURUSD is extending its slide for a third straight day on Monday, dropping below the 1.0485 level, which acted as an important support barrier in late April/early May. The price has currently steadied near this congestion point, but momentum indicators suggest more losses are likely. The MACD histogram has fallen below zero, increasing its distance below the red signal line, which is also turning southwards. The stochastics are plunging too, but although the %K line is deep in oversold territory [..]

Daily Market Comment – ECB stokes recession, debt fears; dollar rally cools but stocks struggle still

Posted on June 10, 2022 at 9:18 am GMT

Hawkish ECB spurs Eurozone yields to multi-year highs but euro flounders Dollar reclaims FX crown as all eyes now turn to US CPI report Growth and inflation worries dog equities but China bucks trend despite new lockdowns ECB joins global inflation fight, roils markets The European Central Bank laid out a path to terminating all asset purchases and launching a series of rate hikes on Thursday as it sharply raised its inflation forecasts. But although the move was widely expected [..]

Technical Analysis – EURUSD turns neutral in symmetrical triangle, holding above 1.0700

Posted on June 9, 2022 at 11:49 am GMT

EURUSD is struggling within a symmetrical triangle in the short-term, hovering above the 20- and 40-period simple moving averages (SMAs) near the 1.0700 round number. The momentum indicators in the four-hour chart, though, are currently supporting that the neutral-to-positive momentum is likely to strengthen in the short-term. Specifically, the RSI is picking up speed above 50 and the MACD stands above its trigger and zero lines. Should the price decisively close above the roof of the symmetrical triangle seen at 1.0735, the bulls could extend the [..]

Daily Market Comment – Euro steady ahead of ECB decision, stocks drift lower

Posted on June 9, 2022 at 9:28 am GMT

Euro holds around $1.07 ahead of expected ECB stimulus pullout Elevated yields and oil prices weigh on equities, some relief from China trade jump Yen snaps losing streak, dollar gets caught in sideways range in CPI wait Cautious calm before ECB amid hawkish risks The European Central Bank meeting is undoubtedly the focal point for investors on Thursday in what could turn out to be the most important policy shift since Draghi’s ‘whatever it takes’ moment. After years of quantitative [..]

Technical Analysis – EURUSD aims for more gains, but another obstacle remains

Posted on June 8, 2022 at 3:26 pm GMT

EURUSD remains resilient above the 1.0640 resistance-turned-support zone despite its weekly muted trading, raising the odds for another bullish breakout ahead of Thursday’s ECB rate decision. The RSI and the MACD are currently painting a neutral-to-positive short-term outlook as the former, although stable, is refusing to return below its 50 neutral mark, and the latter is trying to gain momentum above its zero and signal lines. That said, there is an immediate obstacle, which the bulls need to claim first before going [..]

Daily Market Comment – Dollar edges up as yields spike, yen sinks, stocks come under pressure

Posted on June 7, 2022 at 9:07 am GMT

Bond selloff gathers steam ahead of large Treasury auction, pushing yields higher Surprise big rate hike by RBA adds to jitters about rising borrowing costs, stocks slip Dollar climbs as yen tumbles, pound plunges too as Johnson’s woes not over Fresh bond rout rattles markets Bond yields surged on Tuesday as investors fretted about how far central banks will go to contain inflationary pressures that are rampaging around the world. US Treasury yields edged lower for most of May as [..]

ECB meeting: Setting the stage for higher rates – Forex News Preview

Posted on June 6, 2022 at 12:40 pm GMT

The European Central Bank will conclude its meeting at 11:45 GMT Thursday. With inflation raging, it is almost certain to end asset purchases and telegraph a rate increase for next month. For the euro, the question is whether the ECB is comfortable with rate hikes of 50 basis points or whether it will stick to smaller 25bp moves. The most likely outcome is a ‘slow and steady’ message, which could disappoint the single currency. Stepping stone The Eurozone economy has [..]

Daily Market Comment – Strong NFP report dampens Fed pause hopes

Posted on June 6, 2022 at 8:50 am GMT

US economy still churning out jobs but Fed may have to keep hiking by 50 bps Stocks rebound after NFP-led dip as yields advance only marginally Euro slightly firmer ahead of ECB, pound shrugs off Johnson confidence vote Strong NFP: a case of glass half full? America’s roaring labour market added a stronger-than-expected 390k jobs in May, while the unemployment rate held steady at 3.6% even as the labour force participation rate improved slightly. The upbeat numbers dashed hopes that [..]

Technical Analysis – EURUSD moves in narrow range around 1.0700

Posted on June 6, 2022 at 7:06 am GMT

EURUSD is holding within a tight range of 1.0635 to 1.0780 after surpassing of the 20- and 40-day simple moving averages (SMAs). The RSI is moving sideways above the neutral threshold of 50, while the MACD is extending its bullish movement above its trigger and zero lines. Should the price close comfortably above the 38.2% Fibonacci retracement level of the down leg from 1.1480 to 1.0345 at 1.0780 and the medium-term descending trend line, traders could add move value to the [..]

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