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The pair finds support over the last couple of days, after having taken a beating earlier in the week from dovish RBA rhetoric and hot US CPI Inflation, but will struggle to avoid a negative weekly close
EURUSD Price Action For November Past Performance: Past Performance is not an indicator of future results. The chart above considers the EURUSD H4 scale. The vertical line marks 1 November. Area 1 shows that the month had a bullish start to it, climbing near 65 pips. However, this was short-lived, as the EURD plunged for 10 candlesticks before finding support and rebounding (area 2). However, it stopped short of area…
The pair maintains its positive undertone and runs its third straight profitable day, managing to extend this week’s gains into new monthly highs
Following three straight negative weeks, the pair regains its poise, with the help of supportive economic releases and BoE commentary
The Reserve Bank of New Zealand (RBNZ) released its quarterly Survey of expectations, which revealed increased inflation expectations, boosting the Kiwi
UK core inflation printed at 3.4% y/y, higher than the 3.1% forecast. For the Euro, core came in at 2% y/y, less than the consensus of 2.1%. There is also very different communication from each's central bank. At the monetary policy report hearing on Monday, BoE governor, Andrew Bailey, admitted to being "very uneasy' about inflation. Although the BoE did not raise rates at the last meeting, there were two…
Past performance is not an indicator of future results The left chart shows the USDOLLAR daily time frame. It is in an area of strength - between the upper blue and upper red bands. We note that the daily RSI is trending toward overbought but is not there yet (green rectangle). The right chart shows the USDOLLAR hourly time frame. The buck reacted off of resistance at the R1 pivot.…
It took the Dollar almost a month to break above October multi-year highs, but yesterday it managed to reach its highest levels since March 2017, extending them today
Monetary policy differential, recent dovish remarks by the ECB president, hawkish comments from Fed officials and upbeat data from the United States, have put relentless pressure on the pair
The Eurodollar had opened the week in good mood, but things deteriorated quickly during the US session and in the aftermath of Ms. Lagarde’s dovish remarks
The Aussie started off on a good footing, but dovish comments from the governor of the Reserve Bank of Australia (RBA) eventually push it into negative territory
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