Tuesday 5th February: US dollar on strong footing; weighs on counterparts.
Despite observing a brief flicker of activity around January’s opening level on the H4 timeframe at 1.1445, the single currency yielded ground to its US counterpart Monday.
Monday 4th February: Weekly technical outlook and review.
Traders, as pointed out in our previous weekly briefing, are urged not to overlook the current resistance level, as it boasts strong historical significance dating as far back as early February 2015
Friday 1st February: Greenback preserves gains above 95.50 ahead of today’s NFP report
ECB's Weidmann comments regarding poor German growth figures and several years until ECB's normalization, the H4 candles clocked session lows of 1.1435.
Thursday 31st January: US dollar under pressure; reclaims 95.30 to the downside on dovish FOMC.
On the much awaited FOMC rate decision holding pat in recent hours, dovish tweaks in the latest FOMC statement and Fed’s Powell stance shifting more dovish, the greenback fell sharply, printing fresh lows at 95.25.
Wednesday 30th January: FOMC rate decision & press conference eyed today.
The British pound, amid US trading hours, yielded ground to the US dollar, as the pair shrivelled over plan B Brexit concerns.
Tuesday 29th January: Sterling cautious ahead of today’s Parliament Brexit vote.
Market caution is likely the cause of Monday’s pullback ahead of today’s Parliament Brexit vote. The House of Commons will be voting on Prime Minister May’s Brexit plan B, including a number of amendments nominated by the speaker.
Monday 28th January: Weekly technical outlook and review.
In the mould of a near-full-bodied bullish candle, the British pound catapulted itself north against its US equivalent last week, positioning the market at the lower boundary of supply coming in at 1.3472-1.3204.
Friday 25th January: Greenback outperforms major counterparts preserving gains above 96.50 – further buying in store?
Dreary Eurozone PMIs triggered the EUR/USD’s initial decline amid early European trade Thursday, with downside further exacerbated by the press conference after the ECB interest-rate decision in which rates were left unscathed.
Thursday 24th January: ECB takes centre stage today – possible volatility ahead.
Broad-based US dollar selling, triggered by a sharp drop in 10-year Treasury yields, appears to be the primary catalyst behind the recent upsurge.
