All Articles Tagged - EURUSD

Market Comment – Wall Street hits record as yields slide ahead of tech earnings, Fed decision

Posted on January 30, 2024 at 10:28 am GMT

S&P 500 closes at all time high as yields fall after Treasury cuts borrowing estimate But worries grow about China’s economy amid Evergrande fallout Euro steadies as Eurozone dodges a recession Dollar and gold hold within range as ME crisis, Fed angst keep investors on edge Another day, another record for Wall Street Shares on Wall Street surged on Monday after the US Treasury said it will borrow less in the current quarter than what it had estimated back in [..]

Technical Analysis – EURUSD slips further after the fall below 200-day SMA

Posted on January 30, 2024 at 7:09 am GMT

EURUSD touched 1.0800 but returned higher Price moves within bearish triangle MACD and RSI suggest negative bias EURUSD tumbled below the crucial 1.0845 restricted zone, generating concerns that the decline from the 200-day simple moving average (SMA) may continue. Also, the market declined slightly below the 1.0800 round number during Monday’s session, meeting the lower boundary of the bearish triangle but it returned quickly above the 1.0815 barrier. Prior to resuming their efforts, the bulls might attempt to close above the 200-day SMA at 1.0845. [..]

Technical Analysis – EURUSD declines below 200-day SMA

Posted on January 29, 2024 at 1:15 pm GMT

EURUSD develops within a negatively sloping triangle 20- and 50-day SMAs post bearish cross MACD and RSI confirm downside move EURUSD has slipped below the key 1.0845 restricted zone, raising worries that the plunge from the 200-day simple moving average (SMA) could gain more legs to the downside. Any additional declines could remain attractive to traders unless the price exits the short-term bearish triangle below 1.0800. If that bearish scenario unfolds, the pair could tumble towards the 1.0725 base. Should the bulls return, they may first push for [..]

Market Comment – Stocks, dollar steady after goldilocks data as Fed awaited

Posted on January 29, 2024 at 10:31 am GMT

Stocks perky ahead of Fed decision as US data and China measures lift optimism Dollar and yields little changed after goldilocks reports, NFP eyed next Oil and gold spike on geopolitical concerns amid fresh ME tensions Markets await direction from the Fed Stocks were mixed on Monday amid a cautiously risk-on tone ahead of a very busy week for the markets that’s expected to get heated up mid-week by the Fed’s policy decision, culminating with the latest payrolls report on [..]

Weekly Technical Outlook – USDJPY, EURUSD, GBPUSD

Posted on January 29, 2024 at 8:52 am GMT

Fed meeting in focus with USDJPY remaining under pressure Positive NFP report may drive EURUSD lower BoE to keep rates unchanged as GBPUSD consolidates Fed policy meeting –> USDJPY The most important event this coming week will be the January policy meeting of the Federal Reserve. Investors are still sure that a dovish turn is on the way. Since there won’t be any changes to policy and there won’t be a dot plot to look at, investors will be listening to [..]

Week Ahead – Fed and BoE decisions, NFP report, Eurozone GDP incoming

Posted on January 26, 2024 at 11:15 am GMT

It’s a packed week ahead with key central bank decisions and big data releases Will the Fed (Wednesday) and Bank of England (Thursday) signal rate cuts? US jobs report, Eurozone GDP & CPI will also be crucial Plus, Aussie inflation and an OPEC meeting Fed meets: more pushback or a cautious green light? The Federal Reserve’s January policy meeting will undoubtedly be the highlight of the coming week as investors remain convinced a dovish pivot is drawing closer. Speculation about [..]

Market Comment – Euro/dollar loses ground after ECB and US GDP data

Posted on January 26, 2024 at 9:54 am GMT

Euro trades lower as ECB downplays inflation threat Dollar gets a minor boost from US GDP, slowing inflation bruises yen Stocks hit new records, but futures drop on disappointing earnings ECB fails to push back on rate cut bets The European Central Bank kept interest rates unchanged yesterday and did not really provide any fresh signals about the path of monetary policy. President Lagarde stressed that it was still premature to discuss rate cuts, but investors did not take her [..]

Technical Analysis – EURUSD eyes ECB rate decision as negative trend holds

Posted on January 25, 2024 at 12:33 pm GMT

EURUSD pulls below key barrier, within bearish channel Key resistance at 1.0930; support at 1.0860 ECB rate decision awaited at 13:15 GMT EURUSD turned higher from a six-week low of 1.0820 on Wednesday but the 200-period simple moving average (SMA) in the four-hour chart came to halt the bullish action near the 1.0920 level, forcing a new downturn. The pair is currently trying to recoup some lost ground, rising gradually back above its 20- and 50-period SMAs and the 61.8% Fibonacci retracement level of the [..]

Market Comment – Euro turns to ECB decision, Tesla earnings disappoint

Posted on January 25, 2024 at 9:52 am GMT

Euro drifts ahead of ECB decision, dollar awaits US GDP data Gold retreats as solid business surveys dampen rate cut bets Tesla earnings miss estimates, Chinese stocks bounce back ECB to steer markets to summer rate cuts The spotlight will fall squarely on the European Central Bank rate decision today. Market pricing suggests the ECB will do nothing, so the action in financial markets will come mostly from the commentary by President Lagarde. Several ECB officials have tried to downplay [..]

Technical Analysis – Is EURUSD ready to climb back above the uptrend line?

Posted on January 25, 2024 at 7:43 am GMT

EURUSD rebounds off 200-day SMA But, remains beneath the rising trend line Technical signals are mixed EURUSD finds strong support at the 200-day simple moving average (SMA), which overlaps with the 1.0845 barrier. The pair is currently holding beneath the medium-term ascending trend line but the fact that it is still above the aforementioned support is raising optimism for a potential upside move. However, the technical oscillators are showing mixed signals in the market. The RSI is ticking slightly higher [..]

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