Thursday 16th January: Dollar Dips Following US/China Signing Phase 1 Trade Deal.
The US and China have signed an agreement aimed at easing a trade war that has rattled markets and weighed on the global economy. Speaking in Washington, US President Donald Trump said the pact would be transformative for the US economy.
Wednesday 15th January: Technical Outlook and Review.
Although ranging more than 40 points on the session between 1.1144/1.1104, Tuesday concluded pretty much sideways. Intraday, a dip to lows just north of the 1.11 handle occurred, though price action swiftly recovered and traded to 1.1120+ amid US hours.
Tuesday 14th January: Modest Risk Rally Continues Ahead of Phase One Signing.
Pound sterling slipped lower Monday, pressured by lower-than-expected growth and manufacturing production data, as well as dovish comments from BoE’s Vlieghe.
Monday 13th January: Weekly Technical Outlook and Review.
Wednesday, in the shape of a 47-point downward move, overthrew not only the 200-day SMA (orange – 1.1139) but also a local channel support, taken from the low 1.0981. The nearby 50-day SMA (blue – 1.1090) entered the fold Friday, providing support by way of a bullish engulfing candle over Thursday’s doji indecision formation.
Friday 10th January: Dollar Index Advances Ahead of Non-Farm Payrolls Data.
Thursday had the euro slightly softer against a sturdier buck, as the US dollar index, or DXY, elbowed above 97.50. As of current price, buyers and sellers are squaring off a touch below the 1.11 handle on the H4 timeframe.
Thursday 9th January: Marked Improvement in Market Sentiment; Dollar Overpowers 97.00.
Europe’s single currency ceded further ground to the US dollar Wednesday, shedding 0.42% and clocking near-two-week lows a few points north of the 1.11 handle.
Wednesday 8th January: Risk Aversion Bolsters Safe-Haven Markets.
Despite Monday’s firm opening, The US dollar index’s recent advance, aided by an upbeat US Non-Manufacturing PMI reading, took a bite out of the British pound Tuesday, shedding more than 45 points, or 0.37%.
Tuesday 7th January: Dollar Lower Amidst Escalating US-Iran Tensions.
EUR/USD buyers entered an offensive phase Monday, adding 35 points, or 0.34%. The pair gathered traction on the back of upbeat Eurozone services PMIs and a better-than-anticipated Sentix index, released early London.
Monday 6th January: Weekly Technical Outlook and Review.
After challenging monthly highs at 1.1293 Wednesday, EUR/USD shifted lower and concluded the week revisiting the 200-day SMA , positioned a few points north of the 50-day SMA (blue – 1.1088).
