Investors Await Central Bank Actions Amid Global Economic Concerns and Uncertainties Prevail Today events: USA - Building Permits (May) USA - FOMC Member Bullard Speaks USA - Housing Starts (MoM) (May) USA - FOMC Member Williams Speaks Eurozone - ECB McCaul Speaks Eurozone - ECB's De Guindos Speaks On the evening of Monday, following a public holiday, there...
EUR/USD broke above the 1.0800 handle yesterday thanks to a weak US inflation report, yet price action now finds itself back beneath that key level leading into today's FOMC meeting (and tomorrow's ECB meeting). But as the pair has risen over the past two weeks, it may take a particularly dovish meeting from the Fed to drive it materially higher. Therefore,...
Technical Analysis and Outlook: The euro-dollar price movement followed our projections as stated on Daily Chart Analysis For the Week of June 9 - the price action hit our initial upside target of Mean Res 1.082 and beyond by completing our Inner Currency Rally 1.096. The unconfirmed pivotal down move is in progress, with the mark aimed to mean Sup 1.080. Trade...
EUR/USD is trading at 1.0948 in Europe, almost unchanged on the day. On Thursday, the euro surged 1.05% in the aftermath of the ECB rate hike. The ECB raised rates by 25 basis points on Thursday, bringing the benchmark rate to 3.50%, the highest level since 2001. The markets were not surprised by the move but ECB President Lagarde's hawkish comments following the...
The three most important news have passed this week. This led to 200 pips current rise and confirmed the trend reversal. We’re currently at key resistance level-1,0940. We will look for another buys after correction, the goal will be reaching 1,1080 and breakout.
The EUR/USD pair extended gains into a fourth consecutive day on Thursday following the European Central Bank's (ECB) decision to raise its main rates by 25 basis points, as expected. At the time of writing, the EUR/USD pair is trading at the 1.0880 area, recording a 0.7% daily gain, having touched its highest level in a month at 1.0894. The European Central...
In April, UK GDP grew by 0.2% m/m, recovering from the previous month's decline of -0.3% m/m. The rebound was driven by the services sector, with services expanding by 0.3% m/m and contributing 0.26 percentage points to overall GDP growth. The wholesale and retail sector, as well as the information and communication sector, made significant contributions. However,...
Yesterday FED didn’t surprise the market as kept interest rates unchanged. Today is ECB’s turn, which is expected to rise it by 0,25. Technically EURUSD is in an up trend which we expect to maintain. Upon another rise, the next resistance is at 1,0900.
EURCHF has been down-trend for some time. The currency recently exited a distribution phase and reached a new high. This is a opportunity for euro bulls to long the currency pair.
Hi Traders! Please see our new levels for EURUSD below. Vector Level: 1.08047 Vector Level: 1.09298 Anchor Level: 1.04833 Apex Level: 1.10956 The recent price action on the 1D chart is telling us that EURUSD is looking for a direction to continue in. We have been stuck in a range (highlighted on the chart) for the past two weeks or so, and key decisions and...
The most important news coming up this week. CPI data is due tomorrow. We will se FED Interest rate decision on Wednesday. On Thursday ECB is expected to rise interest rates again. A proper money management and waiting for the right moment are extremely important when it comes to busy news week. We’re currently looking at the options to reverse the H1 trend.
Technical Analysis and Outlook: The euro-dollar price movement followed our projections as stated on Daily Chart Analysis For the Week of June 2 - the price action hit our initial upside target of Mean Res 1.076. The continuation of the pivotal rebound is expected to push to Mean Res 1.082 this week, following through the pivot move that will take us to Mean Sup...
Hi Traders, PLEASE SEE LINK TO ORIGINAL IDEA BELOW. Rounding off the week with an update to our forecasted EURUSD levels on the 1D chart. After the bounce from the 78.6% Fibonacci support level, there was a bullish push upwards (highlighted on the chart) and we have now pulled back near our forecasted Vector Resistance 1 level at 1.08047. The trading range on...
Technical Analysis and Outlook: In our Daily Chart Analysis for the Week of May 26, the euro-dollar price movement followed our projections perfectly. On May 31, the price hit our initial down target of Inner Currency Dip 1.064, followed by a dead cat bounces to our Mean Res 1.075 target last Friday. The retest of the completed Inner Currency Dip 1.064 is in...
The euro has edged higher on Thursday, trading at 1.0708, up 0.19%. The currency remains under pressure as the US dollar is flexing some muscles. On Wednesday, EUR/USD touched a low of 1.0635, its lowest level since March 20. There are clear signs of disinflation in the eurozone, as rising interest rates have dampened economic activity. Spain and France reported...
FOREXCOM:EURUSD is under sell pressure. Germany is officially in recession. Inflation numbers came short in both Spain and Germany. These are signs for interest rates in eurozone is slowing down the economy and at some point ECB needs to stop increasing interest rates, which would make euro weaker. In contrast to this, job openings and GDP numbers came positive...
Technical Analysis and Outlook: This week's eurodollar price action was lower, and the current trading pattern suggests the designated target of the Inner Currency Dip is 1.064 in the making, as indicated in last week's daily chart analysis, with the possibility of falling further to Mean Sup 1.054. We also anticipate a quick rebound to Mean Res 1.075 with the...
Technical Analysis and Outlook: This week's currency drifted lower with the stronghold of our Mean Sup 1.076. Based on the current trading pattern, this downward trend is in dead cat rebound mode targeting Mean Res 1.087. The designated target of the Inner Currency Dip is 1.064 in the cards.