Key risk events today: UK Retail Sales m/m; BoE Official Bank Rate Votes, Monetary Policy Summary, Official Bank Rate; US Unemployment Claims; US Final GDP q/q. (Previous analysis as well as outside sources – italics). EUR/USD: Euro bulls remained on the offensive Wednesday as the US dollar index, or DXY, continues its descent, tackling the … Continue reading Thursday 26th March: Pound Trades from Heavyweight Resistance Ahead of BoE
Key risk events today: German Final IFO Business Climate; UK Inflation; US Core Durable Goods Orders m/m and Durable Goods Orders m/m. (Previous analysis as well as outside sources – italics). EUR/USD: The tail end of London’s session Tuesday had Europe’s shared currency firmer against the buck, though off best levels from a 38.2% Fibonacci … Continue reading Wednesday 25th March: DXY Continues to Retreat; Eyes 101.00
Key risk events today: Eurozone, UK and US Manufacturing and Services PMIs; Richmond Manufacturing Index. (Previous analysis as well as outside sources – italics). EUR/USD: EUR/USD traded within a near-200-point range Monday between 1.0828/1.0635, as worldwide governments and central banks attempt to control the spread of COVID-19 and a global recession. In recent news, the … Continue reading Tuesday 24th March: Technical Outlook and Review
Downside risks continue to build long term in EUR/USD, absorbing bids from the 2016 yearly opening level at 1.0873 and channel support, taken from the low 1.1215.
Europe’s shared currency extended losses for a third successive session Thursday. Erasing more than 200 points and registering 37-month lows at 1.0654, EUR/USD tunnelled through a number of key technical supports, including the 1.0777 level and the 1.07 handle.
