Key risk events today: UK Inflation; Canada Inflation; BoE Gov. Bailey Speaks; FOMC Meeting Minutes. (Previous analysis as well as outside sources – italics). EUR/USD: Europe’s shared currency extended Monday’s vigorous recovery against the US dollar on Tuesday, scoring highs at 1.0976. EUR/USD, as you can see, tested H4 Quasimodo resistance at 1.0972, missing a … Continue reading Wednesday 20th 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.
EUR/USD retained a modest offer over the course of last week, testing and holding south of the 2016 yearly opening level at 1.0873. A bump lower this week could have multi-year lows enter at 1.0635, while firming may eventually witness the 2020 yearly opening level at 1.1222 make a play.
Key risk events today: China Fixed Asset Investment ytd/y and Industrial Production y/y; German Prelim GDP q/q; US Core Retail Sales m/m and Retail Sales m/m; US Prelim UoM Consumer Sentiment. (Previous analysis as well as outside sources – italics). EUR/USD: Thursday’s fleeting recovery attempt north of 1.08 fell flat as broad-based USD upside capped … Continue reading Friday 15th May: Technical Outlook and Review
Key risk events today: Australia Job’s Data; New Zealand Annual Budget Release; BoE Gov Bailey Speaks; US Unemployment Claims; BoC Gov Poloz Speaks. (Previous analysis as well as outside sources – italics). EUR/USD: The dollar index rose Wednesday, establishing a floor ahead of 99.50 and reclaiming 100.00+ status by the close. This guided EUR/USD southbound, … Continue reading Thursday 14th May: Technical Outlook and Review
