All Articles Tagged - EURUSD

Technical Analysis – EURUSD sets sight on 1.0900 handle

Posted on May 28, 2024 at 1:07 pm GMT

EURUSD retains positive tendency in near term 20- and 200-day SMA post golden cross Momentum oscillators confirm upside pressure EURUSD is moving towards the 1.0900 psychological level, remaining well above the short-term ascending trend line, which has been drawn from April 16. According to the technical oscillators, the RSI is pointing upwards and is approaching the 70 level with strong momentum, while the stochastic is heading north after the bounce off the 20 level. Also, the 20-day simple moving average (SMA) posted a golden [..]

Low volatility across the board besides Bitcoin – Volatility Watch

Posted on May 28, 2024 at 9:34 am GMT

Forex pairs in a relatively quiet mood Volatility in Bitcoin and silver skyrockets US equities enjoy low volatility despite rally to record highs Euro/dollar volatility has dropped aggressively over the past week as markets are bracing for inflation data both from the US and Eurozone this week. Similarly, volatility in yen crosses remains muted even though the Japanese currency is trading near historical lows against its major peers, while the latest downbeat inflation data out of Japan could ignite some volatility moving forward. In [..]

Market Comment – Euro takes advantage of weak dollar

Posted on May 28, 2024 at 8:04 am GMT

Dollar extends slide on thin holiday trading More Fed officials to step onto the rostrum Euro gains ahead of key inflation data Wall Street set to open higher, oil rebounds Will Fed officials come to the dollar’s rescue? With US and UK markets staying closed on Monday, the dollar extended its slide against most of its major peers, trading on the back foot today as well. With no major economic data on today’s agenda, dollar traders will continue to pay [..]

Euro area inflation unlikely to change ECB’s outlook – Preview

Posted on May 27, 2024 at 3:13 pm GMT

ECB June rate move looks like a done deal May inflation could open the door to a July rate cut Euro could benefit from a stronger CPI print German CPI on Wednesday, eurozone report on Friday at 09:00 GMT Busy calendar, inflation stands out With the market counting down to next week’s ECB meeting, the preliminary inflation report for May will be published this week. The data calendar is rather full and includes unemployment data for the eurozone and the [..]

Weekly Technical Outlook – USDJPY, EURUSD, AUDUSD

Posted on May 27, 2024 at 9:04 am GMT

US Core PCE price index may boost USDJPY to surpass 156.00 Eurozone preliminary CPI attracts traders’ attention with EURUSD standing above 1.0800 Australia monthly CPI indicator may be a breath for AUDUSD US Core PCE price index –> USDJPY Investors may turn their focus to the US core PCE price index for April on Friday, which is the Fed’s preferred measure of inflation. Following a period of stability at 2.8% y/y in March, there are indications that the core [..]

Market Comment – Dollar steadies, awaiting fresh catalyst

Posted on May 27, 2024 at 8:33 am GMT

US dollar stabilizes after profit-taking pullback Investors agree with Fed’s ‘higher for longer’ view Wall Street rebounds as AI remains main driver Gold gains, but remains well off its record Higher for even longer The US dollar pulled back on Friday against most of its major counterparts, perhaps as the slight downward revisions to the UoM inflation expectations for May prompted traders to lock some profits on the long positions they initiated earlier in the week. The greenback is trading [..]

Technical Analysis – EURUSD ticks up before testing descending trendline

Posted on May 27, 2024 at 7:50 am GMT

EURUSD retreats from a fresh 2-month high of 1.0894 But meets support a tad above its long-term restrictive trendline Oscillators suggest bulls remain in charge despite the latest drop EURUSD had been in a steady advance following its 2024 bottom of 1.0600 on April 16. However, the pair reversed lower after its rejection at a fresh two-month high of 1.0894 in mid-May, with the price finding strong support just above its long-term downward sloping trendline. Should the latest uptick gain momentum, the [..]

Week Ahead – US PCE inflation and Eurozone CPI data enter the spotlight

Posted on May 24, 2024 at 10:36 am GMT

Dollar traders lock gaze on core PCE index Eurozone CPIs in focus as June cut looms Tokyo CPIs may complicate BoJ’s policy plans Aussie awaits Australian CPIs and Chinese PMIs Will PCE data break the “higher for longer” mantra? The US dollar stabilized this week, recovering a small portion of the losses it posted after the CPI data revealed that US inflation resumed its downtrend in April. What may have allowed the dollar to stop bleeding were comments by [..]

Market Comment – Sentiment sours after strong US PMIs; stocks slip, dollar climbs

Posted on May 24, 2024 at 9:06 am GMT

Rate cut expectations take another hit after upbeat PMIs Dollar rises to 10-day high, Nvidia rally unable to lift Wall Street Higher for longer weighs on oil and gold Fed may not cut until after election It’s been a bad week for investors hoping to see a near-term rate cut by the Fed as expectations have been pushed out further towards the end of the year. The hawkish commentary by Fed officials on Tuesday was underscored by the FOMC minutes [..]

Technical Analysis – EURUSD recovers ground, remaining above downtrend line

Posted on May 23, 2024 at 12:27 pm GMT

EURUSD rebounds off 1.0814 20- and 200-day SMAs post golden cross EURUSD is recouping some of the previous days’ losses, finding support at the 1.0814 level. The 20-day simple moving average (SMA) is ready to post a bullish crossover with the 200-day SMA, suggesting that the upside tendency could continue. Technically, the RSI is pointing north above the neutral threshold of 50; however, the stochastic oscillator is falling, mirroring the previous falling days. Currently, the price is heading north with the first resistance coming from [..]

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