All Articles Tagged - EURUSD

Technical Analysis – EURUSD trades sideways despite golden cross

Posted on January 2, 2023 at 9:10 am GMT

EURUSD has been edging higher since early October after its long-term downtrend ceased at the 20-year low of 0.9535. In the short term, the pair has been trading sideways, with the completion of a golden cross between the 50 and 200-day simple moving averages (SMAs) failing to spark an upside rally. The momentum indicators currently suggest that bullish forces are in control. Specifically, the RSI is pointing downwards but remains comfortably above its 50-neutral mark, while the stochastic oscillator is ascending [..]

Week Ahead – NFP and Fed minutes to kickstart the New Year as dollar languishes

Posted on December 29, 2022 at 3:53 pm GMT

Markets will slowly begin to return to normal in the first trading week of 2023, with a number of top-tier releases on the way to liven things up after the holiday lull. The latest US jobs report will be headlining the economic agenda, while the minutes of the December FOMC meeting is expected to attract more attention than usual given the absence of Fed speakers since the event. Flash inflation readings out of the Eurozone and Canadian employment figures will [..]

US ISM manufacturing survey and Fed minutes kick off the trading year in high fashion – Forex News Preview

Posted on December 29, 2022 at 9:17 am GMT

The new trading year starts on a high note as the crucial non-farm payrolls print is set for release on the Friday, January 6. Before this “main course”, the market will be served the appetizers in the form of the ISM Manufacturing survey and the Fed minutes from the December meeting. Could these releases brighten the somewhat gloomy outlook? Manufacturing weakness spreading The ISM manufacturing kicks off a very busy week for the US economic calendar. Since March 2021 the [..]

Daily Market Comment – Rising yields pressure stocks, Tesla sinks, but dollar stuck in tight range

Posted on December 28, 2022 at 10:16 am GMT

Growth stocks feel the heat of yields resurgence, plunging Tesla sends Nasdaq diving BoJ knocks down yen again, but other major FX pairs stuck in narrow ranges Gold and oil pare back gains as dollar regains some footing Bond yields stage surprise year-end rally, stocks don’t like it Markets have turned choppy as trading winds down for the year. With just three trading days remaining and very few significant developments for investors to sift through, the bond market is taking [..]

Technical Analysis – EURUSD range bound during post-Christmas session

Posted on December 27, 2022 at 9:17 am GMT

EURUSD kept fighting the tough 1.0658 nearby resistance during the post-Christmas trading session, which has been capping bullish actions for more than a week. The floor around 1.0580, if sustained, may preserve engagement in the market in the short term. Technically, the bullish cross between the faster 20-day exponential moving average (EMA) and the slower 200-day EMA is feeding hopes that the uptrend from 20-year lows may gain extra legs. Yet, with the RSI maintaining a sideways trajectory near its 70 [..]

Could the famous “five-day” rule reveal the market direction for the new trading year? – Special Report

Posted on December 23, 2022 at 11:19 am GMT

The start of each trading year is usually tricky for market participants as they leave behind the festive period. The hype about the new year is not enough to keep the spirit high, but there is an unofficial market rule that makes the first few market sessions purposeful. The famous “five-day” rule states that the yearly performance of the US 500 cash index would be positive if the return on the first five trading days of the year is positive. There have been a [..]

Week Ahead – Markets quiet down for holidays, liquidity in control

Posted on December 23, 2022 at 10:11 am GMT

A quiet week lies ahead for FX markets as the year draws to a close. The spotlight will fall on the Bank of Japan’s summary of opinions, which will add some color around the recent decision to raise the yield ceiling that propelled the yen higher. More broadly, liquidity will be in short supply, making sharp market moves possible without any news catalyst. BoJ boosts yen In a surprise move, the Bank of Japan adjusted its yield curve control strategy [..]

PCE inflation unlikely to bring festive cheer to the dollar – Forex News Preview

Posted on December 20, 2022 at 3:40 pm GMT

The latest stats on personal income and spending, as well as the all-important PCE inflation figures will hit the markets on Friday before traders abandon their desks for the long holiday weekend. The data could set the tone until the end of the year, with a negative surprise in the Fed’s favourite price indicator potentially boosting risk assets as investors continue to question the steepness of policymakers’ projected rate path. The US dollar, however, would be in danger of further [..]

Daily Market Comment – BoJ shocks markets with policy tweak; yen soars, stocks tumble

Posted on December 20, 2022 at 10:04 am GMT

Bank of Japan makes surprise tweak to its YCC policy, insists it’s not tightening Dollar slumps 3% against yen, Nikkei plunges as markets see move as exit from stimulus Gold supported as broader market mood remains downbeat BoJ widens yield target range The Bank of Japan ended weeks of speculation about a policy pivot and took its first step on Tuesday to move away from years of ultra-loose monetary policy. In its first adjustment to its yield curve control policy [..]

Technical Analysis – EURUSD holds a bullish bias near 1.0600

Posted on December 19, 2022 at 2:58 pm GMT

EURUSD is still standing above the 1.0580 support level, holding within a short-term upward sloping channel and above the 200-day simple moving average (SMA) as well as above the penetrated long-term downtrend line. The RSI turned higher again after the drop from the overbought territory, remaining in the positive zone. The MACD oscillator keeps moving sideways losing some steam below its trigger line in the bullish area. On the upside, resistance could occur around the 1.0740 resistance, while the [..]

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