Technical Analysis and Outlook: The Eurodollar market completed Inner Currency Dip 0.9960. The market appears to be likely to retest our Mean Res 1.0185. Currently, Key Res 1.0270 is the major, primary upside target. An ultimate retest of Key Sup 1.0017 and Outer Currency Dip of 0.9960 is in the making.
The EURO now sits under 138.000 on the exchange rate, a key resistance level that will now surely break after European Inflation hit 8.1% for the month of April 2022, igniting the debate about whether the ECB should be raising rates at 0.50% increments instead of 0.25% increments as signaled by Christian Legard. With European Bond Yields climbing and paying a...
The EURO is likely to strengthen against the Canadian Dollar as the European Central Bank signals interest rates are going up in July and September, to move the overnight cash rate from -0.50% to 0.00%. The reason the EURO will strengthen is down to the fact that interest rate differentials will narrow from the market's previous expectation, so investors who are...
Technical Analysis and Outlook: The Euro has seen a significant dead cat bounce throughout the week of trading to surpass the 1.06 mark; however, it seems to be struggling with the Key Res 1.062 level. On the downside, the Mean Sup 1.045, Key Sup 1.038, is the main target - The ultimate Inner Currency Dip 1.031.
Technical Analysis and Outlook: After the retest of our Mean Res 1.1090, the Eurodollar continues its journey down as projected in March 25 chart to the newly created Mean Sup 1.0980. The continuous move down to Key Sup $1.0850 and completed Inner Currency Dip 1.0820 - some bullish moves are possible within the current downtrend.
The ECB’s decision. The European Central Bank (ECB) held its interest rates unchanged during their monetary policy meeting yesterday. Main Refinancing Operations Rate: 0.00% Marginal Lending Facility Rate: 0.25% Deposit Facility Rate: -0.50% The size of its quantitative easing (QE) programmes remains unchanged as well. Asset Purchase Programme (APP):...