All Articles Tagged - EURUSD

Technical Analysis – EURUSD challenges 1.0900 number once again

Posted on April 6, 2023 at 9:56 am GMT

EURUSD rebounded off the 1.0883 support level and is currently testing the 20-period simple moving average (SMA) around the 1.0900 round number in the 4-hour chart. The market is still standing above the medium-term uptrend line, with the RSI indicator confirming the recent upside pullback as it is pointing slightly higher near the 50 level. However, the MACD is holding beneath its trigger line in the positive region. Should the price close comfortably above the 20-period SMA (1.0900), traders could add more [..]

Daily Market Comment – Dollar slips, stocks climb after disappointing US data

Posted on April 4, 2023 at 8:51 am GMT

Contraction in US manufacturing emboldens bets for Fed cuts Dollar slides, stock markets rally with boost from energy shares RBA hits ‘stop’ button on rates, RBNZ decision coming up next Manufacturing woes Global markets are torn between different themes, with traders switching back and forth between inflation and recession risks depending on the latest round of data releases. The week started with the ghost of inflation returning to haunt investors after OPEC+ boosted oil prices, but the session closed with [..]

Will nonfarm payrolls make investors reconsider their Fed pivot bets? – Forex News Preview

Posted on April 3, 2023 at 10:41 am GMT

With the banking crisis reviving fears that the Fed may need to start cutting rates later this year, market participants may look for their next clue on whether this could be true or not in the US employment report for March, scheduled to be released on Friday at 12:30 GMT. Such expectations have weighed on the US dollar recently, but will a positive surprise in the jobs report be enough to bring the currency back to life? Investors maintain Fed [..]

Weekly Technical Analysis – EURUSD, AUDUSD, NZDUSD

Posted on April 3, 2023 at 9:42 am GMT

The focus this week will be on the US nonfarm payrolls report, where further improvement could dampen expectations that the Fed would soon begin cutting interest rates, thereby aiding the dollar’s recovery. The central banks of Australia and New Zealand are expected to take different approaches. US Non-farm payrolls → EURUSD In March, nonfarm payrolls are anticipated to increase 238k from 311k before, while the unemployment rate is anticipated to remain stable at 3.6%, near multi-decade lows. EURUSD is turning slightly higher after a negative open today, holding above 1.0800. RBA decision → AUDUSD [..]

Daily Market Comment – OPEC supply cut boosts oil prices, helps dollar recover

Posted on April 3, 2023 at 9:18 am GMT

Surprise production cut from OPEC propels oil prices higher Dollar benefits as resurfacing inflation concerns fuel Fed bets Stocks close first quarter in euphoric mood, riding liquidity wave OPEC surprise Oil prices shot higher to enter the new week, supercharged by a surprise announcement that OPEC+ will slash its production. The cartel and its allies said crude supply will be trimmed by 1.16 million barrels per day from May onwards, helping restore some balance in a market that has been [..]

Technical Analysis – EURUSD pulls back after failing to surpass crucial zone

Posted on April 3, 2023 at 8:13 am GMT

EURUSD had been steadily gaining ground since finding its feet at the March low of 1.0515. Nevertheless, the pair’s rebound appears to be fading as the 1.0928 barrier has repeatedly rejected any price advances in the past two weeks. The short-term oscillators currently suggest that bullish forces are waning. Specifically, the MACD histogram is softening but remains above both zero and its red signal line, while the RSI is pointing downwards in the positive territory. Moreover, the price is holding above [..]

Daily Market Comment – Stocks headed for quarterly gains despite turmoil, dollar set for losses

Posted on March 31, 2023 at 9:26 am GMT

Equities to end week and quarter in buoyant mood as tech-led rebound gathers pace Fed speakers keep rate hike door wide open, dollar firms but still down in Q1 Tokyo CPI beat unable to halt yen’s slide, US and Eurozone inflation coming up next Stocks shrug off banking mess as turbulent quarter closes Equity markets may have taken a strong knock from the banking crisis, which sprung out of the blue earlier this month, but the speed at which they [..]

Technical Analysis – EURUSD in bullish mode, eyes 1.0940

Posted on March 30, 2023 at 1:12 pm GMT

EURUSD has been gradually recouping the pullback from last week’s peak of 1.0928, currently flirting with the 1.0900 round-level above October’s resistance trendline. The short-term bias is clearly on the bullish side as the pair is strengthening above its upward-sloping simple moving averages (SMAs). The RSI and the MACD are sending positive vibes too, with the former heading northwards comfortably above its 50 neutral level and the latter gaining momentum above its red signal and zero lines. Therefore, the focus will [..]

Technical Analysis – EURUSD bulls look for support for the next leg higher

Posted on March 30, 2023 at 9:23 am GMT

EURUSD has been on an upward path since March 15 when it touched 1.0515, the lowest level since early January. The first attempt by EUR bulls to breach the 1.10 area failed, prompting a decent drop towards the 1.07 area. However, the EUR bulls appear to be determined as EURUSD is currently nibbling at the 1.0860 area. This pair continues to respect the March 15 sloping trendline with the multiple simple moving averages (SMAs) used here all pointing upwards. In [..]

Daily Market Comment – Weaker yen gives dollar a lift as stocks climb on easing banking fears

Posted on March 29, 2023 at 9:03 am GMT

Stocks extend gains as banking turmoil continues to subside Dollar catches up with firmer Treasury yields, yen tumbles Oil rises to 2-week high on improving tone and on Iraq supply concerns Stocks resume rebound after Wall Street stumbles Global equity markets got off to a positive start on Wednesday, resuming a patchy rebound from the lows of the banking turmoil that has so far been less than convincing. Stocks on Wall Street ended lower on Tuesday despite more calm being [..]

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