EUR/USD held on to the bulk of its losses last week, down more than 1.00% at the close of trade. The 2016 yearly opening level from 1.0873 ceded ground, consequently exposing channel support, taken from the low 1.1109. Further supporting sellers is the primary trend, down since topping in early 2018, at 1.2555.
This Monday, 17th February, marks President’s Day in the US. As this is a federal holiday in the US, there will be a change in trading hours, with regular hours resuming Tuesday 18th February. Please refer to the table below for the temporary trading hours. Traders should be aware that in the event of low … Continue reading President’s Day Trading Hours 2020
EUR/USD held on to the bulk of its losses Thursday after breaching H4 support at 1.0857, consequently shaking hands with a 161.8% Fibonacci extension at 1.0838. Yesterday’s descent, aside from a brief pause on February 11th, registered its eighth successive decline.
Global Markets: Asian Stock Markets : Nikkei down 0.14%, Shanghai Composite down 0.71%, Hang Seng down 0.39%, ASX up 0.21% Commodities : Gold at $1577.95 (+0.40%), Silver at $17.62 (+0.69%), Brent Oil at $55.62 (-0.30%), WTI Oil at $51.16 (-0.02%) Rates : US 10-year yield at 1.590, UK 10-year yield at 0.614, Germany 10-year yield … Continue reading Asian markets lower as Hubei reports 14000 new Coronavirus infections
Key risk events: EU Economic Forecasts; US CPI m/m and Core CPI m/m. (Previous analysis as well as outside sources – italics). EUR/USD: Wednesday had the US dollar index pare Tuesday’s losses, resuming its upward trajectory through 99.00. For the record, Federal Reserve Chairman Jerome Powell aired little regarding the US economy. Developments on the … Continue reading Thursday 13th February: Technical Outlook and Review.
