A faster-than-anticipated pickup in the Eurozone economy during the first quarter, as well as a diminishing greenback, elevated the H4 candles beyond its 1.12 neighbourhood to a session high of 1.1229.
The price of gold, in $ terms, kicked off the week on a negative tone, concluding the day down nearly 0.50%. Reclaiming a large portion of Friday’s gains, daily flow is seen eyeballing a retest of a support area coming in at 1272.5-1261.5.
In recent sessions, the US dollar fell as the market shrugged off a GDP beat. Despite this, the currency managed to hold the majority of the week’s gains around the 98.00 handle (US dollar index).
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EUR/USD: The euro yielded additional ground to its US peer Thursday, down 0.20% on the day and drafting its third consecutive daily loss. The dollar sustained its upward momentum, though stalled at fresh 2019 highs of 98.32 despite hotter-than-expected US durable goods orders. Quasimodo support at 1.1130 on the H4 timeframe nudged its way into … Continue reading Friday 26th April: Dollar trades at 2019 highs ahead of today’s GDP release.
