All Articles Tagged - EURUSD

Weekly Technical Analysis – Dollar index, EURUSD, USDJPY

Posted on March 28, 2023 at 9:42 am GMT

This week the focus of attention will be on the US PCE price index, Eurozone flash CPI data and Japan CPI figures. As such, the focus will turn on how Dollar index, EURUSD and USDJPY may react. US PCE price index → Dollar index As the Fed’s favourite way to measure inflation, the PCE inflation numbers, which are due out on Friday, may be closely watched by traders. As for the PCE rates, there is no forecast for the headline [..]

Daily Market Comment – Equities extend cautious rebound, dollar slips as bank stocks rally

Posted on March 28, 2023 at 9:06 am GMT

Banking turmoil subsides further, sparking rotation away from tech into financials Deutsche Bank joins in the rally as officials play down concerns Dollar stays pressured as Fed rate cut bets remain in play, US data eyed Banking jitters ease again as mood improves Fears about a deeper banking crisis receded further on Tuesday, giving risky assets another leg up as beaten down bank stocks attempted a rebound. Concerted efforts by the US Treasury and Federal Reserve to prop up the [..]

Technical Analysis – EURUSD pulls back but 50-day SMA caps downside

Posted on March 27, 2023 at 11:36 am GMT

EURUSD had been steadily gaining ground after finding its feet at the March low of 1.0515. Nevertheless, the pair encountered strong resistance and pared a part of its gains before the 50-day simple moving average (SMA) curbed further retreats. The momentum indicators currently suggest that the bullish near-term bias is waning. Specifically, the stochastic oscillator is descending after posting a bearish cross, while the MACD histogram is softening but remains above both zero and its red signal line. If the negative [..]

Week Ahead – Eurozone and US inflation to come under the microscope after rate decisions

Posted on March 24, 2023 at 12:52 pm GMT

Amid ongoing jitters about the fallout from the banking sector, inflation will fall back into the limelight next week. The flash CPI readings for the euro area as well as the PCE inflation figures out of the United States will grab most of the headlines, in an otherwise quiet week. Australia will also get inflation data, and in Japan, Tokyo prices will be watched. Hot CPI numbers could roil markets as central banks have indicated that they are not about [..]

Daily Market Comment – Yen shines, dollar stalls as traders bet Fed is bluffing

Posted on March 24, 2023 at 10:16 am GMT

Speculation for Fed rate cuts intensifies, keeping dollar in slow gear Yen advances as yields edge lower, stock markets resume selloff European PMIs exceed forecasts, but euro gets smoked by bank risks Markets to Fed: We don’t believe you It has been a hectic week for global markets, with the underlying theme being a disbelief that the Federal Reserve will execute on its interest rate plans. Even though Fed Chairman Powell did his best to dispel speculation that rate cuts [..]

Technical Analysis – EURUSD moves back and forth around 1.0900

Posted on March 23, 2023 at 1:41 pm GMT

EURUSD is rallying around the 1.0900 psychological mark, extending its upward movement from the long-term ascending trend line and the seven-week low of 1.0530. The short-term oscillators suggest an increase in positive momentum for now. The MACD, in the positive region, has climbed above its red trigger line, while the rising RSI is approaching the overbought region. To the downside, immediate support could come from the 1.0760-1.0800 support area ahead of the flat 50-day simple moving average (SMA) at 1.0720 [..]

Technical Analysis – EURUSD stalls near familiar resistance after rapid rise

Posted on March 23, 2023 at 9:58 am GMT

EURUSD extended its post-FOMC rally to a seven-week high of 1.0928 early on Thursday following a rapid rise above the constraining ascending line from October, which had been capping bullish actions during this month. While the latest positive breakout increases the odds for more upside, the bulls seem to be losing the fight with the 1.0928 barrier, where the pair halted several times last spring and also last winter. Hence, the RSI on the four-hour chart is reasonably feeding speculation for a [..]

Will the Eurozone PMIs allow the ECB to continue raising rates? – Forex News Preview

Posted on March 22, 2023 at 8:55 am GMT

Following the market turbulence triggered last week by concerns about the stability of the global banking system, investors have been scratching their heads to figure out how central banks may proceed henceforth. The ECB disappointed those expecting a smaller-than-telegraphed hike at its last meeting, turning the spotlight to incoming data for its future decisions. With that in mind, euro traders may now lock their gaze on the preliminary Euro area PMIs for March, due to be released on Friday at [..]

Daily Market Comment – Gold loses steam, stocks recover as banking storm eases

Posted on March 21, 2023 at 10:11 am GMT

Nerves around banking sector recede for now, as traders bet on Fed cuts Gold loses some of its safe-haven appeal, stock markets bounce back Dollar remains under pressure, unable to capitalize on market turbulence Fed bets help calm nerves It’s been a wild month for global markets, with regulators turning into firefighters to extinguish the stress in the banking system and prevent it from burning the real economy. The Fed rolled out an emergency lending program for troubled banks, the [..]

Technical Analysis – EURUSD holds above long-term support trendline; neutral in short-term

Posted on March 20, 2023 at 8:30 am GMT

EURUSD has been in a consolidating mode since February 6 and is holding within the 20- and the 50-day simple moving averages (SMAs). Also, the 23.6% Fibonacci retracement level of the upward wave from 0.9535 to 1.1030 at 1.0680 is acting as strong resistance for the bulls. However, in the longer timeframe, the pair is still bullish as it is holding above the uptrend line, drawn on September 28. From the technical perspective, the MACD oscillator is holding slightly above [..]

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