All Articles Tagged - EURUSD

Technical Analysis – EURUSD consolidates within a trading range and below 1.0500

Posted on December 1, 2022 at 9:22 am GMT

EURUSD has reversed back down again after three consecutive green 4-hour sessions. The price failed to reach the 1.0495 barrier and the consolidation area in the medium-term is still in place. The RSI indicator is suggesting more losses as it is pointing down in the bullish area, while the stochastic is ticking south in the overbought zone. Further losses should see the 20- and 40-period simple moving averages (SMAs) at 1.0375 and 1.0350 respectively, acting as major support levels. Also, [..]

Daily Market Comment – Dollar tumbles as Powell appears less hawkish than expected

Posted on December 1, 2022 at 9:15 am GMT

Powell appears less hawkish than he did at the latest Fed meeting Dollar records its worst month in 14 years Wall Street rallies, Nasdaq gains the most Eurozone inflation slows by more than forecast Dollar falls sharply after Powell fails to push back against pivot bets The US dollar tumbled against all the other major currencies on Wednesday and continued to drift south today after Fed Chair Powell failed to sound as hawkish as expected. The Fed Chief confirmed the [..]

Daily Market Comment – Dollar pulls back as markets prepare for Powell’s speech

Posted on November 30, 2022 at 9:24 am GMT

Dollar pulls back as investors await Fed Chair Powell Powell likely to push back on policy pivot Eurozone inflation data also under the limelight Dollar eases from one-week high ahead of Powell’s speech The US dollar traded mixed against the other major currencies on Tuesday, while it came under some broader selling pressure today. Following the recovery in risk appetite after Chinese authorities revived hopes that the world’s second largest economy could start easing its COVID-related restrictions, investors may have [..]

Technical Analysis – EURUSD remains beneath the 200-day SMA

Posted on November 29, 2022 at 2:30 pm GMT

EURUSD is failing to hold above the 200-day simple moving average (SMA) and the 1.0400 psychological mark. There are signs of weakness in buying interest, as shown by momentum indicators. The risk for a downside reversal has increased as the RSI is flattening in the positive region, while the MACD fell beneath its trigger line above the zero level. As the price flips back lower, a potential negative correction may not deter buyers. The 1.0200 support could be a point of interest [..]

Daily Market Comment – Stocks, oil bounce back on China hopes, dollar’s Fed-led rebound falters

Posted on November 29, 2022 at 10:14 am GMT

Mood improves as China takes more baby steps to shift away from zero Covid But risk assets rebound only modestly as Fed hawks keep optimism in check Dollar pulls back, oil climbs on possible OPEC+ output cut Easing protests in China calm markets The unrest in China appears to be easing amid a massive police presence on the streets of Beijing, Shanghai and other major cities. But while the clampdown may by succeeding in deterring protestors to come out [..]

US jobs data and Powell’s speech eyed as dollar rally stalls – Forex News Preview

Posted on November 28, 2022 at 3:37 pm GMT

There’s a storm of critical events this week that will shape the US dollar’s trajectory, including a speech by the Fed boss on Wednesday and the latest employment report on Friday. The Fed chief could strike a hawkish tone, while most indications suggest the US labor market is still in good shape. As for the dollar, even though the rally has stalled lately, a trend reversal is probably a story for next year. Dollar loses its shine It’s been a [..]

Will Eurozone inflation alter ECB policy expectations? – Forex News Preview

Posted on November 28, 2022 at 12:56 pm GMT

With Eurozone inflation surging to 10.6% year-on-year in October, investors have shifted their bets to another 75bps hike when the ECB meets on December 15, and last week’s meeting minutes added credence to that view. This week, traders will probably turn their gaze to the preliminary inflation data for November, due out on Wednesday at 10:00 GMT. Will the numbers prompt them to change their minds and what impact could they have on the euro? Market wants another 75bps hike [..]

Daily Market Comment – Risk-on takes a hit as China protests spark unease

Posted on November 28, 2022 at 9:54 am GMT

Yen jumps, yields slip as anti-lockdown protests in China dent sentiment Oil slumps to one-year low amid rising concerns about Chinese demand Stocks start the week in the red as NFP and other crucial data eyed Growing protests in China rattle markets Risk assets took a knock at the start of the week as worries about instability in China and how the country’s unyielding zero-Covid policy might further blight the outlook led investors to search for safety. Anti-lockdown protests started [..]

Technical Analysis – EURUSD fights stubbornly for 1.0400

Posted on November 28, 2022 at 9:19 am GMT

EURUSD opened with a slight negative gap on Monday after getting rejected around the 1.0400 psychological level for the second time last week. The bulls are currently making another attempt to breach that wall and keep the bullish bias intact above the 200-day exponential moving average (EMA). But the momentum indicators are reflecting some cracks in buying interest. Specifically, the RSI has made a new lower high after peaking near its 70 overbought level, the stochastics are looking to change direction to the downside, [..]

Week Ahead – Decisive week for the dollar as PCE inflation and NFP reports coming up

Posted on November 25, 2022 at 1:36 pm GMT

After the Thanksgiving downtime that generated some further weakness for the greenback, investors will be looking for fresh direction from the barrage of US economic data that will be dominating the agenda in the coming week. The latest payrolls report will be the main attraction along with PCE inflation readings. CPI data out of Australia, the Eurozone and Switzerland as well as Canadian GDP numbers will be important too, while OPEC’s monthly decision will be another one to watch amid [..]

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