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EUR/USD: EUR/USD bulls firmly entered an offensive phase Monday, adding 0.64%. The euro garnered broad support as the US dollar index, or DXY, came under pressure. Disappointing US ISM manufacturing PMI data as well as Chicago Fed President Bullard unbolting the door for a rate cut collectively weighed on the buck. Longer-term technical flows remain … Continue reading Tuesday 4th June: Dollar targets 97.00 as Fed’s Bullard unbolts the door for a potential rate cut.

Longer-term flows remain positioned within the lower boundary of a long-standing demand zone at 1.1119-1.1295, despite a marginal breach two weeks ago.

EUR/USD: For traders who read Thursday’s morning brief you may recall the report underlined H4 resistance at 1.1142 (a Quasimodo support-turned resistance formation) as a potential area price may turn lower from (snippet taken from yesterday’s report): Short-term movement (H4), on the other hand, offers a possible shorting opportunity from resistance at 1.1142 (a Quasimodo … Continue reading Friday 31st May: US announced a 5% tariff on all goods coming from Mexico; intensifying volatility in early trade.

EUR/USD: Recording its third consecutive daily loss, the EUR/USD is seen nursing losses just north of a H4 Quasimodo support at 1.1118 as we head into Asia Pac hours. Having seen this Quasimodo already hold price higher once already last week, the 1.11 handle may elbow its way into the spotlight should further selling materialise. … Continue reading Thursday 30th May: Liquidity may thin today given major European banks closing in observance of Ascension Day.

EUR/USD: In recent sessions, the market witnessed the euro cede further ground to the dollar, down 0.28% on the day. Better-than-expected consumer confidence numbers out of the US provided fresh impetus, with the greenback now eyeing 98.00 once again (DXY). The recent EUR/USD decline had the H4 candles penetrate local support at 1.1180 (now acting … Continue reading Wednesday 29th May: US dollar index poised to approach 98.00.