Category: Featured

Key risk events today: French Flash Services PMI; French Flash Manufacturing PMI; German Flash Manufacturing PMI; German Flash Services PMI; EUR Flash Manufacturing PMI; EUR Flash Services PMI; UK Manufacturing PMI; UK Flash Services PMI; Canada core Retail Sales m/m; Canada Retail Sales m/m; US Flash Manufacturing PMI. Market news (Thursday): European Central Bank (ECB) … Continue reading Friday 22nd November: Euro steady ahead of manufacturing data.

Key risk events today: European Central Bank (ECB) Monetary Policy Meeting Accounts; Philly Fed Manufacturing Index; Bank of Canada (BoC) Governor Stephen Poloz Speaks. Market news (Wednesday): The minutes of the October Fed meeting stated most participants thought this year’s rate cuts would be sufficient to support moderate growth. All in all, the Fed minutes … Continue reading Thursday 21st November: Technical analysis and review.

Key risk events today: Canada CPI m/m, Common CPI y/y, Median CPI y/y, Trimmed CPI y/y; Crude Oil Inventories; FOMC Meeting Minutes. Market news (Tuesday): Reserve Bank of Australia (RBA): Minutes from the RBA’s November meeting revealed the board is prepared to ease policy further, if needed, and agreed a case could be made for … Continue reading Wednesday 20th November: Markets largely unmoved ahead of FOMC.

Europe’s single currency kicked off the week in reasonably robust fashion, gliding to highs of 1.1090 before mildly paring gains into the close. Tops (green arrow) around the 1.1090 neighbourhood on the H4 timeframe is likely viewed as resistance in this market, as is the 1.11 handle.

Should price action remain beneath this base, further downside is likely in store for the EUR/USD, while an upside violation could prompt a retest at the weekly resistance area 1.1119-1.1295.