All Articles Tagged - EURUSD

Technical Analysis – EURUSD eases somewhat after another failed attempt above 1.1070

Posted on April 27, 2023 at 10:06 am GMT

EURUSD is struggling to gain positive momentum after another unsuccessful closing session above the 1.1070 resistance level. The downside reversal in the RSI and the slowdown in the MACD oscillator justify the diminishing buying pressure, though both remain well above their neutral thresholds keeping the short-term risk skewed to the upside. Should selling forces strengthen, the 20- and the 50-period simple moving averages (SMAs) at 1.1040 and 1.0990 will come under pressure ahead of the medium-term uptrend line at 1.0980. [..]

Daily Market Comment – Recession fears mount but dollar fails to maintain haven status

Posted on April 27, 2023 at 8:06 am GMT

Ongoing uncertainties in the US hurt the dollar Atlanta Fed GDP estimate revised lower ahead of official data BoJ expected to stand pat, focus to fall on guidance Recession fears weigh on Dow and S&P 500, but Nasdaq gains Dollar pulls back against most of the other majors The US dollar traded lower against most of its major peers on Wednesday and continued drifting south today as well. It seems that with the ongoing uncertainties surrounding the world’s biggest economy, [..]

Technical Analysis – EURUSD jumps higher but is capped by 1.1080

Posted on April 26, 2023 at 1:01 pm GMT

EURUSD is moving above the 20-day simple moving average (SMA) and within a short-term upward sloping channel, remaining beneath the previous low of 1.1080. The MACD oscillator is flattening above its zero level and below its trigger line. However, the RSI is pointing upwards in the positive territory. An extension to the upside and above the 1.1080 key level could meet the 1.1180 area, taken from the peak in May 2022. Slightly higher, the 1.1200 round number may pause the [..]

Daily Market Comment – Dollar gains amid renewed recession fears

Posted on April 26, 2023 at 8:23 am GMT

Dollar, yen gain as investors seek shelter Fed rate cut bets are back firmly on the table Euro uptrend may stay the course as ECB seen hiking more Wall Street slides amid renewed economic concerns Dollar wears its safe-haven suit again The dollar strengthened against the other major currencies on Tuesday, with the only exception being the yen, suggesting that the dollar’s gains may have been the result of safe-haven inflows. Today, the US currency is pulling back. Indeed, the [..]

US GDP in focus as Fed prepares to play its final card – Forex News Preview

Posted on April 25, 2023 at 9:56 am GMT

There is a heavy load of US economic releases coming up this week. The highlight will be the latest GDP report on Thursday, which will help shape market expectations about the trajectory of interest rates as the Fed prepares to roll out the final rate increase of this cycle next week. As for the dollar, it has been on the ropes lately, but better days may lie ahead. US economy regains steam The economic data pulse in the United States [..]

Daily Market Comment – Dollar and stocks struggle amid anxious calm before the storm

Posted on April 25, 2023 at 9:17 am GMT

Tech earnings and US data awaited for direction as outlook remains clouded Lingering uncertainties drag US yields and the dollar lower; debt ceiling in focus Yen firms slightly after Ueda opens the door to future policy tightening Markets turn tense in wait-and-see mode Stocks slid on Tuesday while the US dollar crawled above fresh lows as investor anxiety was running high following a tense session on Monday amid a number of uncertainties weighing on the markets. Investors remain none the [..]

Weekly Technical Analysis – USDJPY, EURUSD, Dollar index

Posted on April 24, 2023 at 10:12 am GMT

This week the focus of attention will be on the Bank of Japan interest rate decision and the Eurozone flash GDP data as well as on the US Core PCE index. So, the highlight will be how USDJPY, EURUSD and Dollar index may react. BoJ decision → USDJPY If Ueda maintains the status quo on all monetary policy measures during his first meeting on Friday, investors will be seeking for clues as to the timing of any potential change. If [..]

Daily Market Comment – Markets steady after solid PMIs, US data and BoJ awaited

Posted on April 24, 2023 at 9:19 am GMT

US business activity picks up in April, but Fed still seen pausing after May Mixed start for dollar and stocks before barrage of tech earnings and US data Yen steady ahead of BoJ decision; euro firmer after PMIs and hawkish ECB, GDP next Fed bets little changed after stronger PMIs Despite a slew of rate hikes and a mini banking crisis, the US economy has not edged any closer to a recession, defying yet again predictions of a sharp slowdown. [..]

Technical Analysis – EURUSD sustains hopes for bullish continuation

Posted on April 24, 2023 at 7:36 am GMT

EURUSD opened with weak momentum on Monday, tiptoeing sideways within last week’s tight range of 1.0940-1.0988. Despite the muted tone in the market, the technical picture remains encouraging. The price has been trading within a short-term bullish channel over the past month and slightly above its exponential moving averages (EMAs), while it recently secured a strong foothold around the 50% Fibonacci retracement of the 2021-2022 downtrend and the ascending line from October. Meanwhile, some caution might be necessary as the RSI and the [..]

Week Ahead – Spotlight on BoJ’s Ueda as first meeting looms; US and Eurozone data eyed too

Posted on April 21, 2023 at 9:34 am GMT

The Bank of Japan will hold its first policy meeting under the stewardship of Kazuo Ueda next week, although it’s looking unlikely that he will kick things off with a bang. The focus may therefore quickly shift to GDP numbers out of the United States and Eurozone where both economies are expected to have dodged a recession, while the all-important PCE inflation report will be one of the final pieces of the rate puzzle before the Fed’s May decision. Ueda [..]

Legal disclaimer: The material does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instruments. XM accepts no responsibility for any use that may be made of these comments and for any consequences resulting in it. No representation or warranty is given as to the accuracy or completeness of this information. Consequently, any person acting on it does so entirely at their own risk. The research and analysis does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it.

It has not been prepared in accordance with legal requirements designed to promote the independence of research, and as such it is considered to be marketing communication. Although we are not specifically constrained from dealing ahead of the publication of our research, we do not seek to take advantage of it before we provide it to our clients. We aim to establish, maintain and operate effective organisational and administrative arrangements with a view to taking all reasonable steps to prevent conflicts of interest from constituting or giving rise to a material risk of damage to the interests of our clients. We operate a policy of independence, which requires our employees to act in our clients’ best interests and to disregard any conflicts of interest in providing our services.

CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losing all of your invested capital, so please make sure that you fully understand the risks involved.

EURUSD

XM Live Chat