USD longs made a comeback Thursday, with the DXY staging a stronger-than-expected recovery above 96.50. This firmly weighed on the euro, the largest component of the index making up almost 58%.
Category: Forex News: Daily
Friday 21st February: Technical Outlook and Review.
Key risk events today: Eurozone Flash Manufacturing/Services PMIs; UK Flash Manufacturing PMI and Flash Services PMI; Canada Core Retail Sales m/m and Retail Sales m/m; US Flash Manufacturing PMI. (Previous analysis as well as outside sources – italics). EUR/USD: EUR/USD concluded Thursday pretty much unchanged, but did manage to chalk up a bearish outside formation … Continue reading Friday 21st February: Technical Outlook and Review.
Thursday 20th February: Gold Tests Levels Not Seen Since 2013; Eyes Weekly Resistance at 1636.0.
EUR/USD continues to echo a bearish stance, capped at the underside of the 1.08 handle on the H4 timeframe. The US dollar index continued marching higher Wednesday, scoring highs at 99.71, levels not seen since May 2017.
Wednesday 19th February: Dollar Continues its Reign Ahead of FOMC.
Europe’s shared currency tumbled for a fifth successive session against the buck Tuesday, pulled lower on weak German ZEW Economic Sentiment for February and the Federal Reserve Bank of New York’s Empire State Manufacturing Index also rising sharply in February.
Tuesday 18th February: Sterling Toys With 1.30 Ahead of Labour Data.
After refreshing multi-year lows at 1.0827 Friday, EUR/USD struggled to find direction Monday as US banks closed in observance of Presidents’ Day – confined within a tight range between 1.0851/1.0829.