Monday 9th March: Weekly Technical Outlook and Review
EUR/USD bulls went on the offensive last week, sharply extending gains. Adding more than 250 points, price bettered long-term channel resistance, extended from the high 1.1569.
Friday 6th March: NFP Day – Remain Vigilant
Key risk events today: Canada Employment Change and Trade Balance; US […]
US Daylight Savings & Server Time Changing to GMT+3
Dear Trader, On Sunday the 08th of March, IC Markets Trading servers will move forward by one hour from GMT+2 to GMT+3 as the US will enter daylight savings.While trading for most products will remain unaffected, there will be a change in the trading hours of some products.
Thursday 5th March: Technical Outlook and Review
Key risk events today: OPEC Meetings; BoE Gov Carney Speaks; BoC […]
Wednesday 4th March: Dollar Tumbles After Surprise Rate Cut from Fed
The Federal Reserve surprised markets Tuesday, slashing interest rates amid concern about the potential economic toll of the coronavirus outbreak. Following a near to-the-point retest at 1.11, reinforced closely by February’s opening level at 1.1094, H4 price gained traction, eventually grasping the underside of 1.12.
Tuesday 3rd March: Stocks Recover, While Dollar Continues to Extend Losses.
Talks of Fed easing, coupled with record lows in US Treasury yields, witnessed the euro firmly advance Monday, adding more than 120 points into the close. EUR/USD weekly price recently touched gloves with channel resistance, extended from the high 1.1569.
Monday 2nd March: Weekly Technical Outlook and Review
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.
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: 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.
