EUR/USD is slightly lower on Friday. In the European session, EUR/USD is trading at 1.0883, down 0.21%. The euro continues to look sharp and is poised to record its fifth winning week in a row. Eurozone headline inflation fell sharply, but the core rate ticked higher. In the US, the Core PCE Price Index was within expectations. ECB policy makers must be pinching...
Technical Analysis and Outlook: The currency has completed our Inner Currency Rally 1.092 as well, posting new Mean Res 1.085 with a possibility of the retest of the letter. The main down path target is Mean Sup 1.074 - Resumption to Inner Currency Dip of 1.046 is in progress.
The euro has put together a 3-day rally and is up again on Tuesday. In the European session, EUR/USD is trading quietly at 1.0756, up 0.30%. Let's start with some good news. European stock markets have settled down and are in positive territory. The euro took a bath last Wednesday and plunged 1.47% as Credit Suisse shares tumbled, but the currency has battled...
The EURUSD spiked significantly lower from 1.0760 down to the key support level of 1.0525 due to the Credit Suisse issue. Markets were anticipating that the European Central Bank could scale back on its rate increases from 50bps to 35bps, a contributing factor to the drop in the Euro. However, the ECB maintained its decision to hike rates by 50bps and...
Technical Analysis and Outlook: The currency continued trading within Mean Sup 1.054 and extended to Mean Res 1.075 envelope this week as specified on Daily Chart Analysis For the Week of March 10 - Resumption 2nd phase pullback to Inner Currency Dip of 1.046 is in progress.
It has been a busy week for the euro, reflective of the gyrations we're seeing in the financial markets. EUR/USD has bounced back from a mid-week slide and is trading at 1.0661, up 0.46% on the day. In the midst of market turmoil and fears of a full-blown financial crisis, the ECB held its rate meeting on Thursday and had everyone guessing about its intentions....
2023 might be one of the most violatile years in eur history as it is a long time since we saw such agressive hikes on the part of ECB during every meeting. This will be pushing EUR further up. Traditional pivot R1 resistance is even higher than 1.15. Price is likely to end somewhat above 1.15 (above yearly Camarilla R3). FOR EDUCATIONAL PURPOSES ONLY.
EURUSD is heading towards 61,8 after yesterday’s announcement. These are important levels, that we will watch for a possible pullback. No grounds for entry ATM and we’re waiting a reaction. Upon entry, the goal is a breakout of 1,0515 and continuation of the downside move.
• Technical picture in favor of the bears • 2 bearish patterns on daily chart • First pattern is the broadening pattern highlighted in yellow • Second pattern is head and shoulders highlighted in green • 1.0500 support is very critical at the moment ( neckline of head and shoulders and previous pivot low ) • Yesterday's drop penetrated the 20 MA which is now...
The EUR/USD pair oscillates around 1.0600 on Thursday following the European Central Bank's (ECB) decision to raise rates by 50 basis points as expected, recovering some of Credit Suisse's driven losses the previous day. At the time of writing, the EUR/USD pair is trading at 1.0605, 0.23% above its opening price, after hitting a daily high of 1.0635 earlier on...
Hard to look past the recent banking crisis that has rocked equity markets all week. Credit Suisse was the latest to hit the headlines yesterday, and it certainly hit hard. Risk currencies that have stood up ok felt seller force, and we watched the Japanese Yen cause all types of carnage to the EUR, GBP and AUD. The EUR is our focus today, and so is today's ECB...
Yesterday we saw 150 pips decline in EURUSD. Interest rates are due to be announced today and we expect to see another movement. We’re looking at sell options as we watch for pullback from 38,2 and 61,8 on yesterday’s drop. The recommended entries are after the announcement and the press conference 30 minutes later. A breakout of 1,0520 will confirm the...
Considering tomorrow´s ECB decison (+50 points agressive hike vs coming +25 FED hike) we might see a change in trend and EUR is likely to move higher. 2023 EURUSD bullish move was driven by ECB hiking rates and they will keep raising them in the next two meetings (16.03 and 02.05) to 4. Hence EUR is likely to keep trending higher intil May 2. After May 2 meeting...
After a brief period of calm following the collapse of Silicon Valley Bank, Credit Suisse disclosed "material weaknesses" in their financial reporting controls and ongoing customer outflows, setting off another bout of instability across global assets. Credit Suisse's biggest investor, Saudi National Bank, also noted that it could not offer more financial support...
At the beginning of the year OANDA:XAUEUR broke the down side channel. While banks are bankrupting, we see once again gold is the safe heaven for many people. Most importantly for the central banks which have been accumulating physical gold. FED and ECB will struggle to further increase the interest rates. We may see new ATH within a couple of months! Crazy...
The U.S. dollar took a breather on Tuesday following the previous day’s sell-off as markets’ jitters surrounding the Silicon Valley Bank (SVB) collapse quieted, while U.S. consumer inflation data showed a slight deceleration in February. At the time of writing, the EUR/USD pair is trading at the 1.0730 zone, virtually unchanged on the day, with the upside still...
EU made a nice bullish impulse from from support level and now is in correction phase. Will it attempt another bullish move.?
Technical Analysis and Outlook: The currency continued trading within Mean Sup 1.054 and Mean Res 1.070 envelope this week as specified on Daily Chart Analysis For the Week of March 3 - Resumption 2nd phase pullback to Inner Currency Dip of 1.046 is in progress.