All Articles Tagged - EURUSD

Daily Market Comment – Fed officials fire another shot at stocks, sterling recovers

Posted on September 30, 2022 at 8:50 am GMT

Fed warnings and solid US data deal another blow to equity markets Dollar takes another step back as euro and sterling reclaim lost ground Russia set to annex Ukrainian territories, Fed vice chief deliver remarks Wall Street selloff A stormy quarter is drawing to a close. Hopes for a soft economic landing have all but vanished as the Fed continues to beat the drums of forceful rate increases, sending financial markets into a tailspin. With bonds getting blasted alongside stocks, [..]

Technical Analysis – EURUSD rebounds but stays below downside line

Posted on September 29, 2022 at 10:21 am GMT

EURUSD rebounded strongly yesterday after hitting support near the crossroads of the 0.9535 zone and the lower bound of the downward sloping channel that’s been containing the price action since January 28. That said, the recovery remained limited near the 0.9750 territory, still below the short-term downside line drawn from the high of September 13. All this, combined with the fact that the price remains below all three of the plotted moving averages, paints a negative picture. The RSI moved [..]

Daily Market Comment – Bank of England intervenes to calm market stress

Posted on September 29, 2022 at 8:26 am GMT

BoE announces emergency intervention in UK bond markets Global yields come crashing down, stock markets rally in relief Dollar surrenders some ground, but yen cannot capitalize properly BoE steps in The Bank of England hit the panic button on Wednesday, announcing it will step into the UK government debt market to buy £65bn in bonds over the next two weeks to restore stability. Yields on UK bonds had gone through the roof in recent days after the government rolled out [..]

Technical Analysis – EURUSD trims losses after new low

Posted on September 28, 2022 at 2:06 pm GMT

EURUSD rotated northwards in the four-hour chart to test the 0.9600 round level after inching to a 20-year low of 0.9535 a couple of hours before. The RSI is charting a new higher high after bouncing from the oversold territory, endorsing the soft bullish appetite in the market. Likewise, the stochastics are set for an upside reversal near their 20 oversold level, while the MACD keeps gradually gaining ground from its recent lows. If the bulls successfully enter the 0.9600 territory, piercing through the 20-period [..]

Daily Market Comment – Dollar goes ballistic, sterling licks wounds, stocks slide

Posted on September 28, 2022 at 8:37 am GMT

Dollar reigns supreme over FX space as traders rush to safety Sterling stabilizes near record lows, gold threatens another break Stock markets slide, valuations still too expensive for this regime Bonds implode, dollar shines A selloff in global bond markets has snowballed into a meltdown, sending shockwaves across every asset class. Central banks are still on a crusade to vanquish inflation and governments are finding out the hard way that markets won’t tolerate massive unfunded deficits when interest rates are [..]

Eurozone inflation set to hit a new record high as euro keeps tumbling – Forex News Preview

Posted on September 28, 2022 at 8:07 am GMT

With the Eurozone economy on the verge of a recession, the euro plummeted to new 20-year lows against its US counterpart this week, even as the ECB has turned more hawkish at its latest gathering. Extremely high natural gas prices, which has been a fear factor in the past, have come notably off their highs, and yet, market participants continued biting their nails, uneasy over the bloc’s economic performance. This means that they may pay extra attention to the bloc’s [..]

Daily Market Comment – Pound crashes, stocks pummelled after UK budget

Posted on September 26, 2022 at 9:23 am GMT

Pound leads declines in FX markets, approaches parity, as UK budget sparks panic UK yields soar, Italian yields jump too as far-right win adds to uncertainty Dollar scales fresh highs, stocks sink but some signs of recovery today UK budget gets big thumbs down from investors Markets reacted in the worst possible way to the UK’s economic plan unveiled on Friday, sending the pound to rock-bottom levels against the US dollar, while dumping UK gilts. Chancellor Kwasi Kwarteng announced the [..]

Technical Analysis – EURUSD on course to reach channel’s bottom

Posted on September 26, 2022 at 6:40 am GMT

EURUSD plummeted to a new twenty-year low of 0.9547 early on Monday after its most devastating week since the pandemic, with the focus now shifting to the bottom of the 2022 bearish channel at 0.9480. The price managed to recoup some losses and return above the 0.9600 level over the past couple of hours, as the RSI and the stochastics hinted at oversold conditions. Although some recovery would not be surprising after an ugly sell-off, the technical indicators haven’t exited [..]

Week Ahead – Euro eyes Italian elections and flash CPI, dollar may take a backseat

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

With the Fed meeting out of the way, a quieter week is on the horizon, barring of course any flare up of tensions between Russia and Ukraine. Either way, the spotlight will probably fall on the euro as far-right parties are expected to gain ground in Italy’s parliamentary election on Sunday, while preliminary inflation readings will come to the fore at the end of the week. In the US, the highlight will be on the PCE inflation figures, though it’s [..]

Technical Analysis – EURUSD erases some losses in the short-term

Posted on September 22, 2022 at 9:52 am GMT

EURUSD is gaining ground after the sharp selling interest towards a new 20-year low of 0.9806 and questions are rising now about whether the market can sustain the upside move in the coming sessions. The positive slope in the RSI, which runs comfortably above its 30 mark is painting a rosy picture for the short-term trading, while the Stochastics posted a bullish crossover between its %K and %D lines in the oversold area and it is reasonable to believe that the [..]

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