All Articles Tagged - EURUSD

Technical Analysis – EURUSD closes bullish gap; eyes on parity again

Posted on September 13, 2022 at 1:39 pm GMT

EURUSD corrected lower to 1.0042 in the wake of stronger-than-expected US CPI figures on Tuesday, closing its bullish gap below the 50-day simple moving average (SMA). Previously, the pair tried to pierce the upper band of the downward-sloping channel at 1.0186, only to get another rejection. The technical indicators are not providing a clear direction about the next move in the price at the moment. The MACD remains elevated above its red signal line, but is still within the negative area, while [..]

Daily Market Comment – Hopes of softer inflation report lift Wall Street, hurt dollar

Posted on September 13, 2022 at 9:14 am GMT

Investors bet that August CPI data will confirm inflation has peaked in the US Wall Street rallies for a fourth day, dollar selloff accelerates Euro and pound maintain positive momentum despite doubts over energy plans Market optimism ahead of US CPI Risky assets were either extending or holding onto their gains on Tuesday as investors awaited the latest inflation report out of the United States due at 12:30 GMT. After last month’s bigger-than-expected drop in the annual CPI rate to [..]

Italian election: Will a far-right victory hurt the euro? – Special Report

Posted on September 13, 2022 at 7:14 am GMT

Italy will head to the polls on September 25 amid the painful energy crunch. The political landscape in the third largest EU economy has been notoriously unstable and it might enter a new era of uncertainty during the next few months, as the far right is largely expected to come into power for the first time after a century. The winning alliance, however, may find its hands tied in delivering an ambitious fiscal plan, keeping debt risks in the shadows, [..]

Daily Market Comment – Yen selling resumes, euro engines fire up

Posted on September 12, 2022 at 8:30 am GMT

Yen back under selling pressure as FX intervention hopes fade Euro advances, buoyed by energy price cap and ECB signals Dollar down but not out, stock markets defend recent gains Yen resumes slide It has been an excruciating year for the Japanese yen, which has lost almost 25% of its value against the US dollar, crushed by one of the greatest episodes of monetary policy divergence in modern history. With central banks across the world raising interest rates at an [..]

Technical Analysis – EURUSD battles with 50-day SMA as rebound strengthens

Posted on September 12, 2022 at 7:29 am GMT

EURUSD has been losing ground since the beginning of the year, creating a clear structure of lower highs and lower lows within a descending channel. Nevertheless, after managing to find its feet at the 20-year low of 0.9863, the pair is pushing for some recovery, currently challenging the 50-day simple moving average (SMA). The momentum indicators also suggest that bullish forces have gained the upper hand. Specifically, the RSI has jumped above its 50-neutral mark, while the stochastic oscillator is ascending into the [..]

Week Ahead – US inflation on the menu, BoE postpones meeting

Posted on September 9, 2022 at 9:40 am GMT

Another pivotal week lies ahead for currency traders, with the latest US inflation report set to decide whether the dollar’s relentless rally will finally cool off. Meanwhile, the Bank of England rate decision has been postponed for September 22, as the nation mourns the passing of Queen Elizabeth II. Sterling remains in the hands of global forces. Inflation cooldown It’s been a glorious year for the US dollar so far. The reserve currency is essentially the only asset that has [..]

Daily Market Comment – Yen warnings, hawkish ECB knock down US dollar

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

Yen slide takes a pause after Japanese officials sound alarm bells Powell out-hawks Lagarde but euro catches a bid on broader dollar pullback Pound rebounds too as Britain mourns the passing of Queen Elizabeth II Wall Street extends recovery ahead of the Fed blackout period Yen intervention scare sparks dollar profit-taking The Japanese yen rallied against the US dollar on Friday after Bank of Japan Governor Haruhiko Kuroda joined in the chorus of alarm voiced by senior officials from the [..]

Daily Market Comment – Euro eyes jumbo ECB rate hike; pound awaits Truss’ energy plan

Posted on September 8, 2022 at 9:35 am GMT

Softer dollar bolsters euro as ECB anticipated to frontload rate hikes But pound remains pressured amid angst about Truss’ energy bailout Aussie dips after RBA’s Lowe makes dovish tilt; loonie firmer after BoC Wall Street in surprise bounce back as yields and oil prices take a plunge Euro flirts with parity ahead of ECB decision The energy crisis and the pace of monetary tightening look set to dictate market sentiment once again as a busy day looms with a policy [..]

Technical Analysis – EURUSD tests parity level after several days of failed attempts

Posted on September 8, 2022 at 7:09 am GMT

EURUSD is rallying back above the parity level after several days of a consolidation below it. The price surpassed the 20- and 50-period simple moving averages (SMAs) with the technical oscillators returning in their positive areas. The RSI is pointing upwards above the neutral threshold of 50, while the MACD is ticking up above its trigger and zero lines. Should selling forces strengthen again, the immediate support at 0.9985 will come under the spotlight again. Moving lower, the 50- and [..]

Daily Market Comment – Pound gains in aftermath of UK PM election; euro rebounds as well

Posted on September 6, 2022 at 8:10 am GMT

Sterling wakes up as Truss’s plans could fuel inflation Euro rebounds as well after hitting a two-decade low RBA lifts rates by 50bps and hints neutrality Asian shares cheer China’s pledge for more action Pound outperforms after new UK Prime Minister elected The US dollar took a break at some point yesterday, with the dollar index pulling back after hitting a new two-decade high of 110.23. The currency that benefited the most from the dollar’s breather was the British pound. [..]

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