The Euro retested the previously broken support level around the psychological barrier of 1.1600 and could not close above the mentioned level, maintaining the gradual bearish context. Technically, and by looking at the 4-hour chart, we notice the continuation of the negative pressure coming from the 50-day SMA, accompanied by …
Read More »Market Drivers – European Session 03-11-2021
The European session was fairly quiet as all eyes turned to the Fed’s after-hours statement. Oil prices fell during oil trading, as Brent crude in future contracts for January delivery lost 1.971% and reached 83.05 dollars a barrel, while the price of US crude reached 81.94 dollars a barrel in …
Read More »Market Drivers – European Session 02-11-2021
Markets are quiet and investors are waiting for the Fed meeting. Markets are widely expecting Jerome Powell to announce a clear schedule to start tapering. Brent crude futures for January 2022 delivery scored about $84.33 a barrel, down 0.33%, and US crude was about $83.43 a barrel, down 0.74%. During …
Read More »The Australian Dollar Fell After Less Hawkish Comments From RBA
The Australian dollar fell on Tuesday after the Reserve Bank of Australia spoke less hawkish-than-expected at the first of a series of central bank meetings this week. Attention is now focused on the US Federal Reserve, which begins two days of meetings on Tuesday and is expected to announce the …
Read More »The Euro Attacks The Resistance
Positive trading dominated the euro’s movements against the US dollar yesterday, after the European Central Bank President’s statements, reaching its highest level at 1.1692. On the technical side today, the stability of the intraday trading is above the previously breached resistance 1.1640, represented by the 23.60% Fibonacci correction that supports …
Read More »Market Drivers – European Session 01-11-2021
The European session on Monday was quiet and generally flat. Just a moment ago, the Manufacturing PMI came out and came in negative; Were it scored 58.4 points, analyst expected it to score 59.2 points. Gold is now recording 1789.39, an increase of 0.34%, and gold contracts are recording 1790.35, …
Read More »Is the US Dollar Awaiting a Strong Rise?
The dollar rose in early European trade on Monday, extending gains from the previous session after strong inflation numbers reinforced monetary policy tightening at this week’s Federal Reserve meeting. The dollar index, which measures the greenback against a basket of six other currencies, was up 0.1% at 94.243, just below …
Read More »The Euro Breaks The Support
We adhered to intraday neutrality at the end of last week’s trading due to the conflicting technical signals, explaining that we are waiting for the price behavior of the euro around the 1.1690 resistance level. Activating the selling positions depends on the decline below the 1.1640 support level, and breaking …
Read More »Market Drivers – European Session 29-10-2021
The European session was packed with data from Europe and the US, here’s a summary of today’s drivers The US dollar index, which measures its performance against a basket of six major currencies, rose 0.25% to 93.58 points, moving away from its lowest level recorded yesterday at 93.277 points, the …
Read More »The Dollar is Rising But Remains at Low Levels
The US dollar index, which measures its performance against a basket of six major currencies, rose 0.25% to 93.58 points, moving away from its lowest level recorded yesterday at 93.277 points, the lowest level in nearly a month, and the dollar traded during the day at levels between 93.32 and …
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