All Articles Tagged - EURUSD

Technical Analysis – EURUSD flirts with 20-period SMA as bounce loses steam

Posted on November 17, 2022 at 10:06 am GMT

EURUSD has been consolidating in the 4-hour chart, after the rally towards the 1.0480 resistance level. The neutral to bearish picture in the short-term looks like it will last for a while longer as the technical oscillators are suggesting some losses as well. The RSI is ticking down in the positive area, while the MACD is moving south below its trigger line. Resistance was met at around the 1.0480, forcing the pair to reverse lower. If prices continue to head down and drop beneath the [..]

Wounded US dollar turns to retail sales for direction – Forex News Preview

Posted on November 15, 2022 at 8:39 am GMT

Hopes that inflation is finally cooling down led traders to unwind bets that the Fed will raise rates beyond 5%, dealing a heavy blow to the US dollar last week. The next event is the retail sales report this week. It will reveal how demand is holding up, helping investors decide whether the selloff in the dollar was an overreaction or the beginning of a trend reversal. Fed bets The latest US inflation data came as a bombshell for markets, [..]

Technical Analysis – EURUSD meets 2021 key resistance after swift rally

Posted on November 14, 2022 at 3:47 pm GMT

EURUSD spiked by 4.0% last week to hit 1.0363, experiencing its fastest rally since March 2020 before ticking lower on Monday. The impressive bullish correction, which strengthened the short-term uptrend above an ascending channel and the 23.6% Fibonacci level of the 2020-2021 downleg, brought the August peak of 1.0367 and the 200-day exponential moving average (EMA) under examination. The latter had been a tough hurdle during June-September 2021. There is a potential for a bearish correction at this point as the RSI and the stochastics flag overbought conditions. [..]

Technical Analysis – EURUSD skyrockets to 3-month high; bullish bias in near term

Posted on November 14, 2022 at 7:37 am GMT

EURUSD advanced sharply to a new three-month high of 1.0363 on Friday, continuing the bullish extension from Thursday’s session following the rebound off the parity level. The pair has jumped above the long-term descending channel, that was drawn since February, and is moving towards the 200-day simple moving average (SMA). If the market successfully surpassed the aforementioned line, then it may suggest a positive correction in the bigger outlook as well. However, the price is currently retreating with weak momentum, [..]

Week Ahead – Spotlight turns to pound and non-US data after dollar bruising

Posted on November 11, 2022 at 1:15 pm GMT

After another US inflation surprise, CPI data will be dominating the agenda in most other markets in the coming week, shifting the focus away somewhat from the greenback. The pound will likely attract the most attention in what will be a busy week for the United Kingdom, as apart from the economic releases, the budget statement will be watched amid lingering worries about high borrowing. Growth indicators will be important in China and Japan, while in the United States, the [..]

Daily Market Comment – Inflation cooldown slams dollar, turbocharges stocks

Posted on November 11, 2022 at 10:06 am GMT

Traders dial back Fed bets as US inflation cools down Dollar loses its shine, stocks and gold back in vogue Yen capitalizes on the dollar’s troubles, reversal time? Inflation relief A bombshell inflation report from the United States sent a wave of relief across global markets yesterday, sending the dollar into a tailspin and igniting a stunning rally in risky assets amid bets that the Fed is about to dial down its rate increases. Inflation as measured by the CPI [..]

Daily Market Comment – Stocks haunted by crypto troubles, dollar braces for inflation test

Posted on November 10, 2022 at 9:28 am GMT

Upcoming US inflation report will be crucial for dollar and risk-linked assets Stock markets turn down as crypto civil war sparks contagion concerns Sterling takes a hit as risk appetite sours, US election results still unclear Dollar eyes inflation test Global markets are on red alert for the latest batch of US inflation data later today. Inflation is still the boogeyman for consumers, central banks, and investors alike, so this dataset has turned into the most important release in financial [..]

Technical Analysis – EURUSD fails to remain above 1.0000; neutral in medium-term

Posted on November 10, 2022 at 8:22 am GMT

EURUSD is meeting the parity level again, dropping beneath the 20-period simple moving average (SMA) after the pullback from the 1.0095 resistance. In the medium-term timeframe, the pair is failing to have a clear directional movement as it has been moving sideways since mid-October. The technical oscillators are suggesting a negative movement as the RSI is pointing down in the positive region following the decline from the overbought region, while the MACD is losing momentum beneath its trigger line. Further [..]

Dollar gears up for another crucial US inflation report – Forex News Preview

Posted on November 8, 2022 at 12:36 pm GMT

The latest batch of US inflation data will be released at 13:30 GMT Thursday, and will be absolutely crucial for the dollar’s fortunes. Inflation is expected to have cooled, but not significantly, keeping the Fed on track to continue raising rates. As for the dollar, while the outlook remains positive, we seem to be entering the final phase of this uptrend. Risk management Inflation remains the boogeyman for consumers and financial markets alike. Despite a barrage of powerful rate increases [..]

Technical Analysis – EURUSD goes back and forth from parity level

Posted on November 7, 2022 at 1:18 pm GMT

EURUSD is meeting the parity level after a sharp bullish day and a rise above the 20- and 50-day simple moving averages (SMAs). The pair remains above the descending channel, suggesting a bullish correction may be on the cards. Should the pair manage to strengthen its positive momentum, the next resistance could come around the 1.0100 barrier. A break higher would shift the bias to a more bullish one and open the way towards the 1.0200 resistance and the 1.0355 mark. Above these levels, the next [..]

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