USDOLLAR finding it hard to break overhead resistance
Immediate overhead resistance is currently keeping the dollar in check.
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Immediate overhead resistance is currently keeping the dollar in check.
The pair plunged on Thursday, on risk aversion sparked by the Russian attack in Ukraine, but reacted during the US hours and today it is cautious as the European session gets underway
The Japanese Yen drops today as markets try to move beyond yesterday’s recognition by Russia of separatist territories and the subsequent risk aversion
USDOLLAR Weekly Trend The chart below shows FXCM's dollar basket, USDOLLAR. First, price indicates a series of higher troughs followed by higher peaks, which is the classical definition of an uptrend. Next, we assess if the candle ending 11 Feb is the next higher trough in the series (HT?). To this end, last week's candle (green arrow) did not close above the aqua horizontal, which is our requirement for a…
The pair is helped higher by increased hopes of a diplomatic solution around Ukraine and moderated expectations around the Fed’s rate hikes path
Renewed hopes around the situation in Ukraine turns markets away from safe-havens such as the Japanese Yen, helping the pair rise
Sentiment got a lift from news of upcoming meeting between the foreign ministers of US and Russia, helping the pair extend yesterday’s gains, along with a moderation in Fed expectations
Markets continue to monitor news around Ukraine, while yesterday’s minutes from the Fed cooled market expectation for the bank’s tightening path
The pair is profitable today, helped by broader sustained market optimism around Ukraine and the rise in UK’s CPI Inflation, as per today’s data
Yesterday we saw market optimism around the situation in Ukraine, which send the pair higher and today it extends gains, as the European session gets underway
The pair fluctuates as markets react to a series of news in regards to the situation in Ukraine, which remains in the main theme today
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