EUR/USD bulls went on the offensive last week, adding more than 170 points into the close. The chart directed focus to the recent break of resistance at 1.0873, the 2016 yearly opening level, after bottoming off channel support, taken from the low 1.1109.
Category: Recent
Friday 28th February: Red Red Red everywhere in Coronavirus bloodbath
Global Markets: Asian Stock Markets : Nikkei down 3.67%, Shanghai Composite down 3.50%, Hang Seng down 2.97%, ASX down 3.25% Commodities : Gold at $1632.90 (-0.58%), Silver at $17.13 (-3.00%), Brent Oil at $50.29 (-2.78%), WTI Oil at $45.66 (-3.04%) Rates : US 10-year yield at 1.234, UK 10-year yield at 0.487, Germany 10-year yield … Continue reading Friday 28th February: Red Red Red everywhere in Coronavirus bloodbath
Friday 28th February: Technical Outlook and Review.
Increased selling in US Treasury yields weighed on the US dollar index Thursday, with the 10-year benchmark shaking hands with all-time lows at 1.23%. Optimistic data out of the US – durable goods and pending home sales – failed to offer much respite, with the DXY testing lows at 98.36 and marginally fading daily support priced in at 98.45.
Thursday 27th February: Markets continue to fall – first untraced Coronavirus case in the US
Global Markets: Asian Stock Markets : Nikkei down 2.13%, Shanghai Composite up 0.17%, Hang Seng down 0.84%, ASX down 0.75% Commodities : Gold at $1653.15 (+0.61%), Silver at $18.06 (+1.24%), Brent Oil at $51.96 (-1.61%), WTI Oil at $47.91 (-1.68%) Rates : US 10-year yield at 1.297, UK 10-year yield at 0.507, Germany 10-year yield … Continue reading Thursday 27th February: Markets continue to fall – first untraced Coronavirus case in the US
Thursday 27th February: Dollar Index Modestly Snaps Three-Day Losing Streak Ahead of US Durable Goods Data.
Wednesday had the EUR/USD unchanged at the close of trade in London. A fleeting move north of the 1.09 handle emerged, yet 1.0908 proved challenging to overcome, sending the pair to H4 support at 1.0857. Note 1.09 links with a 38.2% Fibonacci retracement ratio.