Friday 29th May: Technical Outlook and Review
Europe’s shared currency retained a healthy underlying bid against the US dollar Thursday, adding 0.7% by London’s close. The US dollar index maintained a position south of 99.00, crossing through 98.50. In spite of this, the DXY was initially unmoved by the revision lower to Q1 GDP and larger-than-forecast unemployment claims.
Thursday 28th May: Technical Outlook and Review
Wednesday had the shared currency rebound strongly against the US dollar, off May’s opening level at 1.0943. 1.10 came under threat shortly after, displaying a fakeout through the key figure to April’s opening level at 1.1023 on the H4 timeframe.
Wednesday 27th May: Technical Outlook and Review
With the US dollar index travelling through 99.50 and touching gloves with 99.00, EUR/USD H4 price is seen seeking additional bidders for a push to nearby 1.10, a key figure widely watched in this market.
Tuesday 26th May: Technical Outlook and Review
Europe’s shared currency was somewhat muted south of 1.09 against the buck Monday, as US banks closed in observance of Memorial Day and UK banks in view of Spring Bank Holiday.
Monday 25th May: Weekly Technical Outlook and Review
In spite of clocking session highs at 1.1008, the attempt to regain footing above the 2016 yearly opening level at 1.0873 was abruptly denied, consequently reclaiming a large portion of the week’s upside.
Friday 22nd May: Technical Outlook and Review
Key risk events today: BoJ Monetary Policy Statement and Press Conference; […]
Thursday 21st May: Technical Outlook and Review
Key risk events today: RBA Gov Lowe Speaks; French Flash Services […]
Wednesday 20th May: Technical Outlook and Review.
Key risk events today: UK Inflation; Canada Inflation; BoE Gov. Bailey […]
Tuesday 19th May: Technical Outlook and Review
The euro kicked off the week strongly amid heightened risk appetite. EUR/USD rebounded from 1.08 following a slowing in Eurozone COVID-19 cases and reports France and Germany are now backing joint EU debt issuance.
