All Articles Tagged - EURUSD

Technical Analysis – EURUSD regains traction after mild pullback

Posted on November 27, 2023 at 9:15 am GMT

EURUSD attempts a strong rebound from 2023 lows Posts a fresh 3-month high before paring some gains Momentum indicators endorse a resumption of the advance EURUSD has been in a recovery mode following its 2023 bottom of 1.0447 on October 3. Although the pair’s rebound got rejected at a fresh three-month high of 1.0964, the bulls prevented a significant downside correction, with the short-term oscillators remaining heavily skewed to the upside. Should buying pressures persist, the price could revisit its recent rejection [..]

Technical Analysis – EURUSD on the rise again near 1.0900

Posted on November 24, 2023 at 11:27 am GMT

Positive momentum picks up again for EURUSD Strong support near the 200-day SMA EURUSD is trading near the 1.0900 psychological mark after the sell-off from the more than three-month high of 1.0965, recouping some of the losses. The pair is standing well above the short-term uptrend line and short-term simple moving averages (SMAs). The RSI is trying to cross the 70 level to the upside, while the MACD is losing some momentum above its trigger and zero lines. To attract new buyers, the bulls [..]

Week Ahead – All eyes on OPEC+ meeting, US and Eurozone inflation to dominate too

Posted on November 24, 2023 at 10:21 am GMT

Oil’s fortunes hinge on OPEC+ meeting outcome on Thursday Eurozone flash inflation and US core PCE also due on Thursday RBNZ to likely hold rates on Wednesday Loonie faces GDP and employment tests in addition to OPEC+ decision Will OPEC+ agree to production cuts? Amid weakening growth prospects for the major economies in 2024, expectations that the big oil producers will soon announce further production cuts had been the only thing keeping a floor under the price of oil lately. [..]

Technical Analysis – EURUSD buyers continue to have the upper hand

Posted on November 23, 2023 at 11:45 am GMT

EURUSD is still in positive territory after brief slide Nearby support levels keep the focus on the upside EURUSD rebounded off the 1.0850 support and the 23.6% Fibonacci retracement level of the up leg from 1.0515 to 1.0965 at 1.0860, fighting with the 20-period simple moving average (SMA) at 1.0920 in the 4-hour chart. The RSI is above its 50 neutral mark, although weaker, and the MACD is keeping its footing below its trigger line but within the positive area, [..]

Market Comment – Oil steadier after nose-dive, dollar pulls back in thin trade

Posted on November 23, 2023 at 10:18 am GMT

Oil plunges on OPEC+ meeting delay, sparking rally in US dollar But dollar resumes decline today as rivals advance on easing gloom Stocks mostly positive in holiday-thin trade Oil prices whipsaw on OPEC+ speculation Markets were hit by some unforeseen turbulence on Wednesday as oil prices plummeted on OPEC’s announcement that Sunday’s meeting has been postponed to November 30. This month’s output decision was already building up to be a major one as the OPEC and non-OPEC alliance was expected [..]

Does the Santa Claus rally really exist? – Special Report

Posted on November 22, 2023 at 1:54 pm GMT

US equities exhibit a strongly positive year-end performance post-Thanksgiving FX pairs do not follow a specific pattern in the examined period Gold and USDJPY rally every time the Thanksgiving holiday falls on November 23 We are nearing the end of another trading year and the newswires are crammed with stories about the famous Santa Claus rally. In a nutshell, the market believes that risky assets tend to rally towards the end of the year. Most analysts calculate the assets’ performance [..]

Will Eurozone’s PMI data be good news for the euro? – Preview

Posted on November 20, 2023 at 12:54 pm GMT

Eurozone flash business PMI data due on Thursday 09:00 GMT The data might provide some relief, calm recession worries EZ flash business PMIs to tick higher A couple of dim US data was the key catalyst behind the euro’s 2.0% rally against the greenback last week. The common currency experienced one of its most constructive sessions so far this year, drifting as high as $1.0939, but domestic tailwinds remain absent in the euro area, making investors wonder whether the bullish [..]

Market Comment – Yen gets some relief, sterling eyes tax cuts

Posted on November 20, 2023 at 9:58 am GMT

Dollar continues to drift lower ahead of Fed minutes tomorrow Japanese yen recovers amid growing bets of foreign rate cuts Oil prices bounce back on potential supply cuts, gold steadies Dollar feels the blues A paradigm shift has taken place in global markets this month, after a string of disappointing data releases from the major economies eliminated any surviving bets of further rate increases and instead fueled speculation about a series of rate cuts next year. Market pricing currently suggests [..]

Technical Analysis – EURUSD is halfway to July’s top; tests 1.0940 level

Posted on November 20, 2023 at 9:45 am GMT

EURUSD stretches to fresh highs ahead of important PMI data Overbought signals strengthen near August’s hurdles EURUSD stepped into the 1.0900 zone after an exponential rally last week, marking a new 2½-month high of 1.0934 during Monday’s early European trading hours. The pair has passed the halfway mark to July’s peak from the October low and some profit-taking would not be a big surprise as the RSI and the stochastic oscillator are hinting at overbought conditions while the price is testing its August’s resistance levels. Encouragingly though, [..]

Week Ahead – Fed minutes and Eurozone PMIs on the menu

Posted on November 17, 2023 at 11:46 am GMT

Fed minutes on Tuesday will be scrutinized for clues on rate path Eurozone business surveys to shed some light on recession risks Japanese inflation stats also in focus as yen attempts to recover Bruised dollar awaits FOMC minutes It’s been a tough month for the US dollar. A string of disappointing data releases coupled with an announcement that the Treasury will shift its debt issuance towards shorter-dated maturities came together to engineer a heavy decline in US bond yields, [..]

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