Mon, Apr 19, 2021 @ 14:34 GMT
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EUR/USD Jumps On Monday

At the start of Monday's trading, the EUR/USD started a surge, which by the middle of the day had almost reached the 1.2050 mark. The surge started in the aftermath of the rate finding support in the zone below the 1.1950 mark. In the case of the surge continuing, the...

Appetite For Risk Remains Strong As We Kick Off A Busy Week

Stocks and copper higher, dollar down Cryptos attempt recovery after weekend plunge Euro climbs to $1.20 ahead of ECB Lots of company earnings Sentiment at the start of this week remained positive for most risk-sensitive assets. European stocks followed Asian markets and US equities higher. Copper prices rallied while...

EUR/USD Outlook: Euro Rises Above 1.20 Mark For The First Time In Six Weeks

The Euro surged through psychological 1.20 barrier and hit the highest since Mar 4 on Monday, lifted by fresh weakness of the dollar. Today's bullish acceleration signals continuation of the uptrend from 1.1704 (Mar 31 low) which paused during past three days. Fresh bulls cracked 50% retracement of 1.2349/1.1704 (early Jan/late...

EUR/JPY Breakout Occurs

The Eurozone single currency has declined by 82 pips or 0.63% against the Japanese Yen since Friday's trading session. A breakout occurred through the lower boundary of an ascending channel pattern during the Asian session on Monday. The exchange rate bounced off a support level at 129.66 on Monday morning....

EUR/USD breaks 1.2 handle as Dollar selloff resumes

EUR/USD's rally resumes in early European session and it finally takes out 1.2 handle with some power. The solid support from 55 day EMA affirms near term bullishness. The development is also inline with out view that correction from 1.2348 has completed with three waves down to 1.1703. We'd...

EURUSD’s Selling Interest Continues Below 1.20

EURUSD failed several times in the past three days to successfully surpass the 1.1985 crucial resistance and the 1.2000 handle. The price has been in a descending movement since January, remaining below the 100-day simple moving average (SMA) and the Ichimoku cloud. The RSI is flattening in the positive...

Daily Technical Analysis

EUR/USD Current level - 1.1951 The corrective phase for the EUR/USD continues as the pair made another failed attempt to breach the resistance level of 1.1988 on Friday. The expectations are for the corrective movement to be limited to the main support at 1.1918 and for the currency pair to re-test...

EURGBP 0.8580 Possible

The euro currency looks like it may have found a meaningful price top against the British pound as the pair continues to reverse from the 0.8700 level. Bearish MACD price divergence on the lower time frames is a warning of a further decline towards the 0.8580 area. Technical selling...

Cryptocurrences Attempts To Rebound After Double-Digit Losses

The Japanese yen strengthened against the US dollar after impressive data from the country. According to the statistics office, Japan’s exports rebounded in March as the global economy continued to recover. Exports rose by 16.1% in March after falling by 4.5% in the previous month. This growth was better...

Euro Falls in Crosses, Yen Bounces on Strong Export Data

Yen bounces broadly in Asian session session today, after Japan reported solid trade data. Sterling is currently following as second strongest, then Aussie. On the other hand, Euro weakens in general, dragging down the Swiss Franc too. The developments came as Sterling is reversing recent decline against other European...

EUR/USD Eyes Upside Break Above 1.2000

Key Highlights EUR/USD gained bullish momentum above the 1.1920 resistance. A daily close above 1.2000 might start a steady increase. GBP/USD could attempt an upside break above the key 1.3880 resistance. USD/JPY must stay above 108.40 to avoid more losses. EUR/USD Technical Analysis In the past few days, the Euro saw...

Market Morning Briefing: Aussie Is Stable Within 0.77-0.7765

STOCKS Dow has risen well above 34000 and has potential to test 35000. The corrective fall that we have been expecting is not happening. DAX can test its crucial resistance level of 15700 and then reverse lower. Nikkie can fall within its 28000-31000 range. Shanghai can test the upper end...

Forex and Cryptocurrencies Forecast

First, a review of last week's events: EUR/USD. The past week was marked by two important economic events: impressively strong macro-statistics from the USA and a collapse in the yield of 10-year US government bonds. According to the data published on Thursday April 15, US retail sales jumped by +9.8% in...

Pull Back in Treasury Yields Boosted Stocks to New Record, Dollar Set Up for More Downside

Dollar tumbled broadly again as falling treasury yield pushed US and German stocks to new record highs. Near term trend in the greenback should have reversed, but it's unsure whether it's ready for medium term down trend resumption yet. At least, EUR/USD will have to break through 1.2 handle...

CFTC Commitments of Traders – Net Long of Commodity Currencies Fell Across the Board

As suggested in the CFTC Commitments of Traders report in the week ended April 13, NET LENGTH of USD index futures gained +1 504 contracts to 5 953. Speculative long positions dropped -1 027 contracts while shorts fell -2 531 contracts. Concerning European currencies, NET LENGTH in EUR futures...

Weekly Focus – ECB Meeting Set to be an Appetizer for June

Markets had a stellar week with equity indices banging out record highs on both sides of the Atlantic. Hence the divergence in macroeconomic prospects was not reflective in their respective flagship equity indices. The S&P 500 and Nasdaq broke all-time highs with better than expected retail sales and jobless...

Sunset Market Commentary

Markets 4k: check. The EuroStoxx 50 passes the psychologic 4000 mark for the first time since January 2008! Ever since taking out the 2015 & 2020 tops which coincided more or less with 76% retracement of the 2007-2009 sell-off (3900-area), this moment had been coming. Technically, the path to the...

US Open: Futures Point to Gains as Stocks Trade at Record Levels

US stocks look to fresh all time highs amid growing optimism surrounding the economic recovery. US futures Dow futures +0.2% at 34100 S&P futures +0.5% at 4177 Nasdaq futures +0.85% at 14053 In Europe FTSE +0.4% at 7023 Dax +0.18% at 15422 Euro Stoxx +0.3% at 4021 US stocks charge higher After the...

Dollar Edges Lower in Quiet Trading, Gold Extends Rally

Dollar edges lower today but there is no follow through selling so far, in quiet markets. Still, the greenback is set to end the week as the worst performer, followed by Canadian and Swiss Franc. Sterling dipped notably earlier today but quickly recovered. Australian and New Zealand Dollar are...

EUR/USD Outlook: Bulls Remain In Play And Consolidate Ahead Of Fresh Attack At Key 1.20 Zone

The Euro regained traction on Friday and edged higher, minimizing negative impact from Thursday’s close in red which signaled that bulls are running out of steam ahead of key barriers at 1.2000/06 (psychological/daily cloud base). The uptrend from 1.1704 (Mar 31 low) shows signs of fatigue as stochastic is strongly...

EUR/USD Pair Is Now Correcting Lower And Trading Below 1.1980

The Euro gained pace after it broke the 1.1900 resistance zone against the US Dollar. The EUR/USD pair even broke the 1.1950 resistance to move into a positive zone. It spiked above the 1.1980 level and traded as high as 1.1993 on FXOpen. It is now correcting lower and trading...

EUR/USD Fails To Reach 1.2000

Instead of surging to the 1.2000 level the EUR/USD declined to the support of the 55-hour simple moving average. Moreover, at the start of Friday's GMT trading hours, the rate passed the support of the SMA. During the early hours of the day, the rate traded below the combined resistance...

EUR/JPY Bounces Off Support

The common European currency fell by 46 pips or 0.35% against the Japanese Yen on Thursday. The currency pair tested the 130.03 level during Thursday's trading session. The exchange rate bounced off from the support line at 130.03 during the Asian session on Friday. Most likely, the EUR/JPY pair could...

EUR/USD Multiple Resistance Point Keep The Pair From Advancing

The EUR/USD has formed 4 times resistance at the top. We could see a move down straight towards the ATR projection. After many days of consolidation, the pair is consolidating around the top. We could see a move down as the market lacks the power to break the order block...

Daily Technical Analysis

EUR/USD Current level - 1.1950 The currency pair is trading in a corrective phase after the bears successfully managed to limit the appreciation of the euro against the dollar down to the resistance of 1.1988. However, the sentiment is still positive, for another test of the mentioned level. In the downward...

EUR/USD Price Action Suggests Follow-Up Gains Now Need A Stronger Euro

Markets Risk was on fire yesterday after a batch of consensus-smashing US data; from ever-rising regional business confidence indicators in NY and Philadelphia, over the lowest jobless claims since the pandemic erupted to searing retail sales helped higher by government-sponsored paychecks. European stocks rose about half a percent, Wall Street...

S&P 500 Notches The 22nd Record Close As Earnings Surge

The Australian dollar declined slightly after the latest GDP data from China. The numbers revealed that the country’s economy rose by 0.6% in the first quarter after the Q4’s increase of 2.6%. This growth led to an annualised growth of 18.3%, slightly below the expected 19.0%. The country attributed...

Yields Decline Despite Strong US Economic Data

Market movers today Today is a rather slow day on the data front. We get final March HICP figures from the euro area, which will give us some more clues on what lies behind the divergence in goods and service price inflation. We will also keep an eye on...

Falling Yields Boosts Stocks and Sentiments, Dollar in Consolidations

Sharp decline in US treasury yields overnight boosted DOW and S&P 500 to new record highs. Positive sentiments also somewhat carried on in Asian session today, as supported by solid data from China. The forex markets are quiets, however. Dollar is recovering some of this week's losses, but remains...

Market Morning Briefing: Dollar-Yen Has Just Started To Bounce From 108.61

STOCKS Dow has risen past 34000 and while this break sustains our view of seeing a corrective fall will get negated and a further rise to 35000 is possible. DAX is stuck in the narrow 15100-15300 range and looks mixed in the near-term. Nikkei and Shanghai can oscillate in the...