Technical Analysis and Outlook: The Eurodollar experienced significant volatility during this week's trading session, with an upward movement that surpassed our Mean Resistance level at 1.075. As a result, a new resistance mark has been established at 1.080. However, it is projected that the currency will experience a downward transition to the Mean Support level...
Coming up: BOE's rate decision week Morgan Stanley has asserted that the Bank of England might still opt for an interest rate cut in the coming week, a stance that stands out amidst dwindling market confidence in such a move. Morgan Stanley’s opinion diverges notably from the consensus, which suggests an initial rate cut by the BOE in September. Backing Morgan...
Here I have EUR/USD on the 4Hr Chart! Since the LOW on Apr' 16th, Price has been traveling in what looks to be an Ascending Channel! Price today was unable to make a NEW HIGH to give us another test of the Rising Resistance and instead gave us quite the drop out of the Ascending Channel! With this break, I believe multiple confirmations are pointing to this...
The pair has managed to stage a rebound from its 2024 lows and reacts positively to today’s preliminary data from Eurozone, which showed Q1 GDP expansion and persistence in headline inflation. As such, the common currency continues its effort to surpass the pivotal resistance confluence, provided by the EMA200 and the 38.2% Fibonacci of the March-April slump....
Technical Analysis and Outlook: The Eurodollar has reached a crucial point in its trajectory, having just encountered its Mean Resistance level of 1.072. This has triggered a sharp downward move, with the currency now seeking its vital Mean Support level at 1.062. This suggests a probable continuation of the downward trend, which traders and investors should take...
Here I have EURJPY on the Daily Chart! Currently you can see price back up at the Resistance Area of ( 164.3 - 165.3 ) after having tested the Rising Support 4 times with each time successfully having Strong Bullish reactions ... this Price Action has formed what looks to me to be a Bullish Triangle Pattern! Fundamentally, there's a lot to unpack but with JPY...
Technical Analysis and Outlook: The Eurodollar has completed our Inner Currency Dip of 1.060. However, further selling pressure is reviling a decline to the next Inner Currency Dip of 1.054. Ultimately, the Eurodollar is expected to reach an Inner Currency Dip of 1.045. It is worth emphasizing, however, that an interim Dead-Cat rebound to the Mean Resistance...
Technical Analysis and Outlook: The Eurodollar has completed an Inner Currency Dip of 1.065. This momentum is expected to generate further selling pressure, resulting in a decline to the next Inner Currency Dip of 1.054. Ultimately, the Eurodollar is expected to reach an Inner Currency Dip of 1.045. It is worth emphasizing, however, that an interim rebound to the...
The euro continues to stumble and is down for a fourth straight day. In the European session, EUR/USD is trading at 1.0653, down 0.67%. The euro has fallen 1.7% this week as the US dollar continues to flex its muscles against the major currencies. The European Central Bank maintained the deposit rate at 4% for a fifth straight time on Thursday, as expected....
11th April DXY: Needs to stay above 105 support area, before testing higher to 105.58 NZDUSD: Sell 0.5980 SL 20 TP 40 AUDUSD: Sell 0.6545 SL 20 TP 60 USDJPY: Buy 153.35 SL 20 TP 45 (watchout for possible intervention) GBPUSD: Consolidate to break 1.25, Sell 1.2490 SL 20 TP 100 (Hesitation at 1.2450) Counter Trend Opportunity EURUSD: Rejection of 1.08,...
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The EUR/USD plunged after the hotter-than-expected CPI, as traders reevaluated the odds of a Fed rate cut in June. EUR/USD has now perhaps broken out of the range of its significant Simple Moving Averages. Now we might get another pushdown in the lead up to or after the ECB interest rate decision tomorrow. The April 2 swing low of 1.07245 may prove pivotal....
Technical Analysis and Outlook: The Eurodollar has broken through our Mean Support level of 1.077 and has quickly risen to hover around the Mean Resistance level of 1.084. This momentum is expected to generate further selling pressure, resulting in a decline to the Mean Support level of 1.074. Ultimately, the Eurodollar is expected to reach an Inner Currency Dip...
The euro is on a bit of a roll and has pushed slightly higher on Thursday. In the European session, EUR/USD is trading at 1.0857, up 0.19%. The euro is up for a third straight day and has climbed 0.8% since Monday. Business activity improved across the eurozone in March. The eurozone services PMI rose to 51.5, up from 50.2 in February. The German reading improved...
The euro is showing little movement on Wednesday. In the European session, EUR/USD is trading at 1.0777, up 0.05%. Inflation in the eurozone continues to decline. March CPI eased to 2.4% y/y, down from 2.6% in February and below of the market estimate of 2.6%. This matched November’s 28-month low and was driven by the continued slowdown in food inflation....
Technical Analysis and Outlook: According to the Daily Chart Analysis for the week of March 22, the Eurodollar has successfully completed a Squeeze Currency Dip of 1.078, which was the primary target. Consequently, this momentum is projected to generate further selling pressure, leading to a decline to the Mean Support level 1.070. Ultimately, the Eurodollar is...
The euro has edged lower on Friday. In the European session, EUR/USD is trading at 1.0782, down 0.05%. It has been a bumpy road for the euro in 2024, as the currency has declined 2.3% so far this year. Earlier today, EUR/USD dropped as low as 1.0768, its lowest level since February 21. Germany, the largest economy in the eurozone, continues to struggle and that...
Technical Analysis and Outlook: As presented in the Daily Chart Analysis for the Week of March 15, the Eurodollar is moving to Mean Sup 1.080. The current projection shows Squeeze Currency Dip 1.078 as the primary target. This could lead to further selling pressure, resulting in a decline to the Mean Support level of 1.070 and the ultimate outcome of an Inner...