The US dollar index, or DXY, ascended to its highest level in almost two weeks Friday following promising retail sales data in May. US retail sales came in at +0.5%, short of the 0.6% expected.
EUR/USD: With upside attempts being limited at the 1.13 handle during early European hours Thursday, the euro declined further against the greenback, down 0.09% on the day. As is evident from the H4 timeframe, the next downside obstacle falls in around support at 1.1262, which happens to align closely with a 38.2% Fibonacci retracement at … Continue reading Friday 14th June: Dollar crosses above 94.00 ahead of today’s retail sales figures.
EUR/USD: By way of a daily bearish engulfing formation, the euro declined 0.34% against the US dollar Wednesday, consequently reclaiming the 1.13 handle on the H4 timeframe. According to the newswires, the buck caught a bid following China’s Global Times editor hinting China is preparing for a prolonged trade war. With 1.13 now likely to … Continue reading Thursday 13th June: Broad-based dollar buying has 97.00 in view as potential resistance.
EUR/USD: Outlook unchanged due to lacklustre movement. It was a quiet session in the EUR/USD domain Tuesday, with in-line US PPI data doing little to rock the boat. For folks who read Tuesday’s briefing you may recall focus was on further buying from 1.13, targeting 1.1347 (last Friday’s peak) and ultimately 1.14/1.1374 (green – comprised … Continue reading Wednesday 12th June: ECB President Mario Draghi takes centre stage today – remain vigilant.
EUR/USD: Following Friday’s NFP-induced advance, the single currency encountered mild downside pressure Monday amid reports suggesting the European Central Bank (ECB) is mulling further easing. The euro concluded the day down 0.18% versus the US dollar. From a technical standpoint, EUR/USD bulls remain underlining an offensive state out of a long-standing weekly demand zone at … Continue reading Tuesday 11th June: Greenback attempting a recovery ahead of PPI numbers.