All Articles Tagged - EURUSD

Technical Analysis – EURUSD survives above 1.1300; neutral phase

Posted on December 9, 2021 at 11:31 am GMT

EURUSD is retreating from the 23.6% Fibonacci retracement level of the downward wave from 1.1908 to 1.1185 at 1.1355. The price is currently testing the Ichimoku cloud and is moving towards the flat 40- and 20-period simple moving averages (SMAs). The RSI posted a descending move in the positive territory, while the MACD oscillator is moving with weak momentum above its trigger and zero lines. If the pair continues the decline, immediate support could come from the 40- and then the 20-period SMAs at [..]

Daily Market Comment – Equities stay cheery but dollar creeps up, pound hits new low

Posted on December 9, 2021 at 10:11 am GMT

Stock market party continues as virus risks sidestepped, though US futures dip slightly But Omicron begins to bite as UK’s Johnson brings in Covid Plan B, pound takes a knock Loonie also slips as BoC cites Omicron danger; all eyes now on US inflation data Stocks remain optimistic but rally cools There were few signs of worry about the Omicron outbreak in equity markets as traders remained hopeful that the economic disruption from this new variant will be kept to [..]

Technical Analysis – EURUSD challenges 1.1300 level and 20-day SMA

Posted on December 8, 2021 at 2:36 pm GMT

EURUSD is ticking higher, meeting the 1.1300 psychological level again around the 20-day simple moving average (SMA). The MACD oscillator is advancing beyond its trigger line and the RSI is pointing upwards in the negative territory, suggesting an upside corrective mode in the near term. It may be challenging to break through the major resistance zone between the 20-day SMA at 1.1305 and the 1.1387 barrier. Further up, the market may test the 23.6% Fibonacci retracement of the down leg from 1.2348 to 1.11185 [..]

Daily Market Comment – Stocks soar as markets look past Omicron; BoC meeting eyed

Posted on December 8, 2021 at 9:55 am GMT

Optimism prevails as investors see glass half full over Omicron threat Asia lifted by Wall Street jump but futures point to some easing in rally FX markets mostly steady, loonie at 2-week high ahead of BoC decision Fading Omicron risks boost sentiment Pre-Christmas cheer came early for equity markets as investors celebrated the growing view that the newly discovered Omicron variant is not more dangerous than the Delta strain. Early evidence suggests that Omicron causes less severe illness than the [..]

Daily Market Comment – Stocks rally, dollar slips as Omicron fears subside, China eases policy

Posted on December 7, 2021 at 9:58 am GMT

Wall Street bounces back as investors shrug off inflation and Omicron concerns US yields also rebound but dollar pressured by improved sentiment Aussie climbs on upbeat RBA, oil rally lifts loonie, BoE uncertainty caps pound’s gains Risk appetite returns as Omicron gloom recedes further Equity markets were in a buoyant mood on Tuesday following a strong rebound on Wall Street yesterday. US stocks staged an impressive rally, with the Dow Jones gaining 1.9% and the S&P 500 1.2%, recouping last [..]

US Open Note – Risk sentiment rebounds on omicron relief; RBA policy decision looms

Posted on December 6, 2021 at 2:16 pm GMT

Omicron concerns ease after volatile week While the omicron variant keeps spreading rapidly around the globe, headlines that its symptoms are not as severe as previously feared, provided a breather to global markets on Monday after a bumpy week. Of course, it is too early to draw final conclusions, and the Covid news will probably keep everyone on their toes for longer amid fears stricter lockdown measures could roll in again ahead of the holiday season. Yet, the less risks the [..]

Daily Market Comment – Equities perk up as Omicron panic eases; Fed liftoff in focus

Posted on December 6, 2021 at 10:00 am GMT

Positive start for US and European stock futures, Asia mixed as mood brightens But still plenty of caution amid Omicron unknowns and central bank policy shifts Busy week lined up – US CPI the highlight; dollar edges higher Is the Omicron scare over? After a gruesome two weeks, US equities may be at a turning point as markets digest the growing expectation that the Fed will remove stimulus at a faster pace and amid encouraging signs that the Omicron variant [..]

Technical Analysis – EURUSD struggles to surpass 20-day SMA; looks bearish

Posted on December 6, 2021 at 7:44 am GMT

After being rejected from the 1.1387 resistance level, EURUSD remains below the 20-day simple moving average (SMA) in the short-term. The pair is still trading well below the long-term descending trend line, while the technical indicators seem to face contradicting signals. The RSI is still below 50 and is pointing down; however, the MACD is heading upwards despite being in the negative sector and above its red trigger line. It may be difficult to overcome the significant resistance area between [..]

US Open Note – Dollar stabilizes, equity volatility subsides

Posted on December 3, 2021 at 2:27 pm GMT

Dollar calm after disappointing November US jobs report; ISM services PMI up next Despite comments from Fed Chair Powell regarding omicron variant risks to inflation and employment, and how this could ultimately slow the progress in the labour market and reinforce supply disruptions, the markets seem to have brushed off these underlying threats for now, with US stock futures and the forex arena in a calmer mood even after today’s key US employment data. A faster taper narrative seems to [..]

Week Ahead – US inflation to fire up again, watch out Fed

Posted on December 3, 2021 at 1:22 pm GMT

Riskier assets have been under pressure ever since Omicron entered the equation, fearful that central banks cannot ride to the rescue this time because inflation is so hot already. This puts even more emphasis on the next edition of US inflation, which could accelerate towards 7% in yearly terms. The Bank of Canada and Reserve Bank of Australia will also hold policy meetings. Fed hits panic button The Fed chief dropped a bombshell on financial markets this week by signaling [..]

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