All Articles Tagged - EURUSD

Technical Analysis – Will EURUSD resume its bearish pattern?

Posted on May 3, 2022 at 9:00 am GMT

EURUSD switched to consolidation following the dip to a 5 ½-year low of 1.0470 last week, ranging quietly between the 1.0550 resistance and the 1.0497 support for the fourth consecutive day. The RSI and the Stochastics are making efforts to exit the oversold territory, though they need more convincing upside moves to signal the end of April’s sell-off, especially as the MACD remains negatively charged after crossing below a key base. In terms of the market trend, the downward-sloping simple moving averages (SMAs) are [..]

US Open Note – Falling dollar breathes life into the euro; Wall Street in the red

Posted on April 29, 2022 at 1:50 pm GMT

3Dollar loses steam but is still the king The king dollar cooled off against a basket of six major currencies in the last trading day of April, having previously rapidly advanced to a two-decade high of 103.93 on the back of persisting calls for higher interest rates in the US and Ukraine-related economic risks in Europe. Still, a fourth consecutive weekly gain is more than secured for the greenback ahead of a busy week of central bank meetings and data [..]

Daily Market Comment – Dollar cools off, Amazon tanks after earnings

Posted on April 29, 2022 at 9:13 am GMT

Dollar set to close month on a strong note, braces for Fed meeting Euro and yen lick their wounds, gold stages a comeback Stock markets roar back but Amazon disappointment spoils the party Dollar unscathed by GDP miss The world’s reserve currency took a small step back on Friday, pausing for breath after it obliterated everything in its path this month, having gained 7% against the Japanese yen and 4.5% against the euro. Expectations that the Fed is about to [..]

Could flash GDP growth & CPI inflation come to the euro’s rescue? – Forex News Preview

Posted on April 28, 2022 at 3:11 pm GMT

The Eurozone will update its CPI inflation and GDP growth readings on Friday at 09:00 GMT. While investors expect a firmer economic expansion and another upturn in inflation, the data could produce only temporary volatility as the war in Ukraine will remain the major, if not, the only driver for the battered euro in the short term. Euro may shrug off new record inflation The euro has been hammered badly this week, depreciating by more than 2.0% against the US dollar [..]

Technical Analysis – EURUSD sell-off records a more than 5-year low

Posted on April 28, 2022 at 2:08 pm GMT

EURUSD is tackling a support zone formed by the lows of 1.0493 and 1.0453 reached in March and January 2017 respectively, following an aggressive surge in negative impetus, which began around the 1.0900 handle. The drop in the pair breached the March until mid-May 2020 base of 1.0726-1.0774, and dived past the critical 1.0635 March 2020 pandemic trough, knocking out the April 2017 low of 1.0569 as well. Furthermore, this recent decline in the pair is also being endorsed by [..]

US Open Note – Dollar index surges to 20-year high; Yen still plunging

Posted on April 28, 2022 at 1:15 pm GMT

BoJ maintains dovish stance The Bank of Japan (BoJ), announced a continuation of its ultra-low yield policy earlier today, catapulting the dollar beyond the psychological threshold of 130.00 yen, to the highest level since 2002, hitting the 131.00 round number. The euro, meanwhile, dipped below another important handle of $1.05. The dollar index is extending its movement towards a 20-year high of 103.92. US stocks futures are suggesting a second positive day in a row for the S&P 500 ahead of the earnings results by Apple and Amazon after the closing bell today. There had been considerable market speculation that the [..]

Daily Market Comment – Yen takes another dive as US dollar rally goes into overdrive

Posted on April 28, 2022 at 8:31 am GMT

US dollar charges even higher, stampedes over all major currencies Yen collapses after BoJ meeting, euro in agony amid energy crisis Facebook earnings cheer up stocks, Apple and Amazon next in line Dollar rampage, euro carnage The relentless rally in the US dollar has left a trail of destruction across the FX market, with every other major currency suffering serious collateral damage. This trend reflects both solid US economic fundamentals and the storm clouds gathering over other regions, where a [..]

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 [..]

Can US GDP stats keep the dollar’s rally going? – Forex News Preview

Posted on April 27, 2022 at 1:55 pm GMT

The US dollar continues to reign supreme, capitalizing on bets for rapid-fire Fed rate increases and the troubles in other economies. Growth data for Q1 are out on Thursday and will reveal the early impact of the war in Ukraine. The numbers could be crucial for market expectations ahead of next week’s Fed meeting and by extension, for whether euro/dollar can sink towards parity. Dollar keeps going The relentless rally in the US dollar shows no signs of slowing down. [..]

Daily Market Comment – Growth scare sinks stocks, adds fuel to US dollar rally

Posted on April 27, 2022 at 8:56 am GMT

Stock market tumbles as earnings season and US slowdown scare traders Dollar the only place to hide – extends gains against euro and sterling Aussie jumps after inflation spike, Facebook earnings in the spotlight Wall Street loses altitude A sense of panic crept back into stock markets on Tuesday. The Nasdaq Composite lost almost 4% as investors slashed their exposure to riskier assets, stressed about a slowdown in economic growth and corporate earnings that could be compounded by a meteoric [..]

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