All Articles Tagged - EURUSD

Technical Analysis – Will EURUSD start a battle with 1.0900?

Posted on January 17, 2023 at 2:46 pm GMT

EURUSD is still holding above the crucial 1.0800 psychological mark and is trying to have a battle with the next significant barrier that is 1.0900. At the moment, the momentum indicators show that bullish forces are in charge. In particular, the RSI is near the overbought territory and the MACD oscillator is getting stronger above both zero and its trigger line. If traders keep buying, the pair could go up to the 1.0900 resistance zone that has been in place since April. If the [..]

Are US retail sales the dollar’s next big test? – Forex News Preview

Posted on January 16, 2023 at 2:01 pm GMT

Last week, it was again confirmed that the US inflation data is the dollar’s biggest nightmare. The currency tumbled and hit a new 7-month low on Monday as investors were further convinced that the Fed may eventually need to cut interest rates at some point this year. As they seek extra validation to their view, this week, traders are likely to pay attention to the US retail sales for December and the PPIs for the month, both due to be [..]

Technical Analysis – EURUSD storms to a fresh 8-month high

Posted on January 16, 2023 at 8:52 am GMT

EURUSD has been attempting a strong rebound since early October when its steep downtrend came to a halt at the 20-year low of 0.9535. In the last couple of daily sessions, the pair recorded a fresh 8-month peak, extending its medium-term pattern of higher highs and higher lows. The momentum indicators currently suggest that bullish forces are in control. Specifically, the RSI has flatlined in the positive region, while the MACD histogram is strengthening above both zero and its red signal [..]

Fed nears a hiking pause – history points to recession and possible October 2023 rate cut – Special Report

Posted on January 13, 2023 at 12:04 pm GMT

The Federal Reserve Bank has been on an aggressive tightening path since March 2022. A total of 425 bps of rate hikes have pushed the Fed Funds Rate to 4.25%, the highest level since December 2007. The market is pricing in an extra 58 bps of rate hikes by June 2023, but numerous forecasters have been quite vocal that the Fed could be making its last tightening move in the first quarter and then opting to pause. It appears quite plausible [..]

Daily Market Comment – Dollar extends slide as US inflation cools further

Posted on January 13, 2023 at 9:33 am GMT

US inflation cools further, declines in monthly terms Dollar slides on Fed-pivot trade Yen and euro the main gainers against greenback Equities extend recovery, earnings season begins Dollar takes another hit from the US inflation data The US dollar slid against all the other currencies on Thursday, with the main gainers being the yen and the euro. Once again, the US inflation data proved to be the greenback’s biggest nightmare. Both the headline and core CPI rates for December declined [..]

Technical Analysis – EURUSD struggles to meet 1.0800

Posted on January 12, 2023 at 10:56 am GMT

EURUSD attempted to break the upper border of the neutral zone of 1.0775 it has been ranging within this week, but its efforts proved unsuccessful so far. The short-term oscillators are in favor of the bears; the RSI is moving down above its 50 neutral mark and the stochastic oscillator is ready to post a bearish crossover within its %K and %D lines below the overbought area. Hence, the short-run risk is looking neutral-to-positive at the moment and another retest [..]

Daily Market Comment – Investors lock gaze on US inflation numbers

Posted on January 12, 2023 at 9:16 am GMT

Dollar trades mixed ahead of US CPI data Inflation expected to further slow Euro, yen could continue outperforming the dollar Wall Street trades in the green on inflation optimism Will US CPI numbers corroborate the Fed pivot view? The US dollar traded mixed against the other major currencies yesterday and continued in a similar fashion today. Apart from some moves triggered by stories related to other currencies, dollar traders seem to be avoiding heavy positioning ahead of today’s US CPI [..]

Technical Analysis – EURUSD moves sideways, cracks appear to bullish momentum

Posted on January 11, 2023 at 2:25 pm GMT

EURUSD is currently trading sideways following a decent rebound on Friday when it touched the November 3 upward trendline at 1.0480. The latest move higher appears to be another leg of the structure of higher highs and higher lows recorded since September 28. The pair is currently inside a relatively important range. The 1.0735-1.0805 area has proven difficult for market participants to break in the past. In the meantime, the momentum indicators seem supportive of the bullish medium-term trend, but cracks appear across the board. [..]

Daily Market Comment – Stocks mostly positive, dollar steady in wait for US CPI

Posted on January 11, 2023 at 10:06 am GMT

Markets’ focus entirely on US inflation report after Powell does not comment on rates Stocks perk up somewhat as traders pin hopes on another CPI drop Dollar selloff aborted for now, aussie lifted by data, gold extends gains Markets on hold as CPI data awaited for direction Fed Chair Jerome Powell refrained from commenting on the interest rate outlook when he took part in a panel discussion on Tuesday, much to the relief of investors. Fears that the Fed chief [..]

Will the wounded dollar take another hit from the US inflation data? – Forex News Preview

Posted on January 10, 2023 at 2:23 pm GMT

The US dollar tried to stage a comeback during the first few days of 2023, but any attempts to conquer higher areas proved abortive as disappointing wage growth on Friday added credence to investors’ view that the Fed may indeed need to slow further its rate increases and eventually consider reversing some of its hikes at some point later this year. Will Thursday’s inflation numbers validate or dismiss that belief? Investors don’t believe the Fed After pushing the triple-hike button [..]

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