All Articles Tagged - EURUSD

Technical Analysis – EURUSD in the middle of 2020-2022 downtrend

Posted on March 12, 2024 at 9:16 am GMT

EURUSD trades neutral as US CPI inflation data loom Short-term upleg intact but risks remain below 1.0968 EURUSD has been capped below the 50% Fibonacci retracement of the 2020-2022 downtrend at 1.0945 since Friday’s flash spike halted near the 1.0980 level and around the resistance trendline from May 2021 on Friday. The US CPI inflation data could generate fresh volatility today at 12:30 GMT, and the protective 50% Fibonacci retracement of the latest downleg is currently feeding optimism that [..]

Market Comment – Gold shines, dollar languishes after mixed US payrolls

Posted on March 11, 2024 at 9:35 am GMT

Dollar in limbo after mixed signals from US employment report Japanese yen and British pound capitalize most on dollar’s troubles Gold hits another record, but high-flying stocks correct lower Dollar directionless after jobs data The US labor market continues to cool, keeping the Fed on track to slash interest rates in the summer. Nonfarm payrolls overcame forecasts in February, clocking in at 275k. However, the rest of the employment report was disappointing with big negative revisions to previous months, the [..]

Market Comment – Dollar gets smoked ahead of nonfarm payrolls

Posted on March 8, 2024 at 9:38 am GMT

Dollar falls sharply, will US employment data fuel this selloff? Yen stages comeback, euro climbs as well after ECB decision Gold and stocks hit new record highs as stunning rally continues Dollar braces for critical US jobs report An action-packed week in global markets will come to a crescendo today with the latest US employment report. Nonfarm payrolls are projected to have risen by 200k in February, less than the previous month but still a solid number overall. The unemployment [..]

Market Comment – Powell still sees rate cuts this year, ECB enters the spotlight

Posted on March 7, 2024 at 9:34 am GMT

Powell says it may be appropriate to lower rates this year Yen rallies as speculation about BoJ exiting negative rates intensifies BoC appears less dovish than expected, central bank torch goes to ECB Wall Street rebounds, gold hits a new record high Dollar slides as Powell adds to rate cut hopes The US dollar extended its decline against its major peers yesterday, with the commodity-linked currencies aussie, kiwi, and loonie gaining the most. The greenback remains in a sliding mode [..]

Technical Analysis – EURUSD wipes out half of January’s downfall

Posted on March 7, 2024 at 9:00 am GMT

EURUSD peaks in overbought zone; trend signals still positive ECB rate announcement comes center stage at 13:15 GMT EURUSD resumed its recovery phase on Wednesday, rising as high as 1.0914 – the highest level since January – before easing slightly lower again. The pair seems to have met overbought conditions in the four-hour chart as both the RSI and the Stochastic oscillator are pivoting lower after peaking around 70 and 80, respectively. Interestingly, the warning signals came after the price faced a [..]

Market Comment – Gold hits new records ahead of Powell’s testimony

Posted on March 6, 2024 at 9:38 am GMT

Gold soars to new record highs as Fed chief prepares to testify Bitcoin also hits all-time peaks, but retreats alongside tech stocks Bank of Canada rate decision and UK budget on the menu too Gold shines, will Powell help? Gold prices cruised to new record highs on Tuesday, extending a blistering rally that has seen the precious metal gain over 4% already this month. A round of disappointing US data releases lately has reignited hopes of interest rate cuts, pushing [..]

Technical Analysis – EURUSD holds in tight range within SMAs

Posted on March 6, 2024 at 7:50 am GMT

EURUSD remains above downtrend line RSI and MACD look weak EURUSD has been developing within a narrow range of the 20- and the 50-day simple moving averages (SMAs) of 1.0805 to 1.0860 respectively. The pair is still standing above the short-term downtrend line and the 200-day SMA, confirming the broader bullish outlook. Technically, the RSI indicator is pointing slightly up above the neutral threshold of 50; however, the MACD oscillator is weakening its momentum above its trigger and zero lines. [..]

Dissecting the ECB Monetary policy decisions communiqué – Special Report

Posted on March 5, 2024 at 3:07 pm GMT

The monetary policy decisions statement is released at 13:15 GMT President Lagarde et al could signal a policy shift in this communiqué The ECB staff projections could also hold the key to a rate cut soon The scheduled press conference takes place 30 minutes later Complementing the detailed ECB preview, this report focuses on the first communication made by the European Central Bank after the completion of each rate setting meeting. A press statement called “Monetary policy decisions” is released at [..]

ECB to ask for more patience before rate cuts – Preview

Posted on March 5, 2024 at 2:37 pm GMT

ECB announces rate decision on Thursday at 13:15 GMT Policymakers to avoid rate cut signals as inflation risks linger in the background New economic projections might reflect potential changes in the ECB’s thinking Don’t expect rate cut signals Hawkish views by central bankers and positive economic data have led investors to reconsider their expectations of aggressive rate cuts. Although no actions are anticipated during the European Central Bank’s policy review this week, the board’s updated economic projections may shed light on the feasibility [..]

Technical Analysis – EURUSD remains above 200-day SMA; bullish bias

Posted on March 4, 2024 at 1:35 pm GMT

EURUSD posts upside correction Upside risks remain around 1.0850 RSI heads north above 50 level EURUSD is still rising above the 200-day simple moving average (SMA), which is hovering near the 1.0825 level, remaining well above the short-term descending trend line. The RSI has clearly jumped back above its 50 neutral mark, and the MACD keeps progressing above its red signal line, painting a rosy picture for the short-term. Once the pair manages to surpass the 50-day SMA at 1.0870, it [..]

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