All Articles Tagged - EURUSD

Technical Analysis – EURUSD spikes to 1.07; hits key resistance

Posted on March 1, 2023 at 2:53 pm GMT

EURUSD is heading for its largest daily gain since the start of February, having rallied by 1.0% from 1.0572 to almost 1.0700 in the wake of stronger-than-expected eurozone CPI inflation readings and hawkish commentary by ECB policymakers. Specifically, the pair is trying to overcome its 20- and 50-day exponential moving averages (EMAs) and close above September’s constraining line. But the ascent is still questionable as the RSI has yet to cross above its 50 neutral mark and the MACD is hovering [..]

Euro traders lock gaze on Eurozone inflation data – Forex News Preview

Posted on March 1, 2023 at 10:18 am GMT

With economic data suggesting that the Euro area may have dodged a severe recession and underlying inflation not showing any signs of slowing yet, investors have dramatically raised their ECB hike bets. Ergo, this week, they may be sitting on the edge of their seats in anticipation of Thursday’s preliminary CPI data as they try to figure out whether the ECB will proceed with the telegraphed 50bps hike or a bigger increment at the upcoming meeting. The data comes out [..]

Daily Market Comment – Sentiment improves on upbeat Chinese PMIs, dollar sags

Posted on March 1, 2023 at 10:11 am GMT

Strong China factory data boosts equities but rate hike fears limit gains Dollar pulls back, euro climbs as ECB starts QT Aussie and loonie up on China optimism but soft GDP numbers weigh Markets buoyed as China reopening boost starts to materialize After ending February on a sour note, equity markets started the new month in a cheerier mood with the help of some much-needed positive headlines from China. Manufacturing activity in the world’s second largest economy grew at the [..]

Euro rebound falters despite easing recession fears; can it be salvaged? – Special Report

Posted on March 1, 2023 at 7:57 am GMT

Things are looking up in the euro area with business activity ticking higher in the first two months of 2023, easing concerns about an imminent recession. Falling energy prices, improving supply chains and a relatively mild winter have all contributed to staving off a major economic downturn. However, the euro has been unable to break new ground in its uptrend and has been drifting lower since the beginning of February. Have the upside risks been already fully priced into the [..]

Weekly Technical Analysis – USDJPY, EURUSD, AUDUSD

Posted on February 28, 2023 at 11:03 am GMT

This week the focus of attention will be on the US ISM manufacturing and non-manufacturing PMIs, Eurozone CPI and Australian GDP figures and the focus would be at how USDJPY, EURUSD and AUDUSD may react. US ISM PMIs → USDJPY On Wednesday and Friday, the ISM PMIs are likely to get a lot of attention. The manufacturing PMI is expected to have risen from 47.4 to 47.9, but the non-manufacturing PMI is expected to have fallen from 55.2 to 54.2. [..]

Daily Market Comment – Dollar pulls back, pound the main gainer

Posted on February 28, 2023 at 9:11 am GMT

Dollar slides as durable goods orders slip more than expected Pound outperforms on new Northern Ireland deal Equities gain, but outlook stays dim Dollar slips, but hike bets stay elevated The dollar traded lower against all the other major currencies on Monday, although it rebounded somewhat today. What prompted traders to liquidate their long dollar positions may have been the larger than expected slide in durable goods orders for January. The headline m/m rate tumbled to -4.5% from 5.1%, with [..]

Technical Analysis – EURUSD rebounds off 7-week low near uptrend line

Posted on February 28, 2023 at 7:49 am GMT

EURUSD is battling with the medium-term uptrend line as the market sank towards a new seven-week low of 1.0530 on Monday. The 20- and 50-day simple moving averages (SMAs) confirmed the recent negative move as they posted a bearish crossover. The MACD is extending its bearish structure beneath its trigger and zero lines, while the RSI is pointing down in the negative region. Further losses should see the seven-week low of 1.0530 acting as a major support ahead of the 1.0480 barrier and [..]

Daily Market Comment – Higher for longer Fed bets fortified after PCE inflation jump

Posted on February 27, 2023 at 10:15 am GMT

PCE inflation creeps up unexpectedly, pushing Fed’s terminal rate bets higher Yields surge again, dollar hits 7-week high as Wall Street tumbles Gold sinks too but pound perks up as Northern Ireland deal with EU eyed Disinflation doubt after core PCE shock The run of downside surprises in US inflation data has well and truly come to an end, at least for now, after the latest PCE price figures followed the CPI report in coming in above expectations. The Fed’s [..]

Week Ahead – US ISM PMIs and Eurozone CPI data enter the spotlight

Posted on February 24, 2023 at 11:04 am GMT

Following a relatively busy week, the calendar becomes lighter next week. However, that doesn’t mean there are no important economic releases on the agenda. On the contrary, with market participants trying to figure out how many more rate hikes the US economy can withstand, they may pay extra attention to the ISM PMIs for February. Also, with most ECB policymakers arguing that more 50bps worth of rate hikes are needed to tame inflation, the Eurozone’s preliminary CPI numbers for February [..]

Technical Analysis – EURUSD battles with 1.0600 and a lower low in near term

Posted on February 23, 2023 at 8:45 am GMT

EURUSD has been underperforming, moving towards the 1.0600 psychological mark and remaining well below the short-term descending trend line and the 20- and 50-period simple moving averages (SMAs). On the 4-hour chart, based on technical indicators, momentum is currently too weak to provide a sustained move higher. The RSI is pointing down below the neutral threshold of 50 and the MACD is strengthening its negative movement. Any moves beneath the 1.0600 round number could open the way towards the next [..]

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