Tag: EUR/USD

Euro notes
December 15, 2023 BY Simon Mugo

EURUSD Pair Falls As Euro Weakens on Disappointing PMI Data

The Preliminary HCOB Services PMI for December dropped to 48.1, a decline from November's 48.7, defying expectations of a slight rise to 49. This indicates that the activity in the Eurozone’s crucial services sector is shrinking more rapidly than it did in the previous month. Similarly, the Manufacturing PMI remained static at 44.2, contrary to…

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Euro notes
December 08, 2023 BY Simon Mugo

EURUSD: Euro Falls Against Dollar on Upbeat Non-Farm Payrolls

In addition to the information mentioned above, the non-farm payrolls report also revealed that the Unemployment Rate declined, dropping from 3.9% in the same period to 3.7%. This shift indicates a positive trend in the labour market. As measured by the change in Average Hourly Earnings, annual wage inflation remained stable at 4%, aligning with…

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Euro notes
December 04, 2023 BY Simon Mugo

EURUSD Falls As Euro Extends Its Rally Against the US Dollar

The EURUSD currency pair fell for the fourth consecutive session as the single currency continued to gain ground against the US dollar. The single currency struggled to hold on to its gains against the greenback as the dollar was relatively strong against most of its peers, as tracked by the US Dollar Index. The release…

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Market Analysis
July 10, 2023 BY Steffy Bogdanova

Market Insight: Week ending 14 July

Technical View: Markets to Watch for the Week Ahead Currencies: US Dollar Eyeing the 101.92 Low With Friday’s one-sided decline, it was a disappointing week for the Dollar Index, down -0.6%. Trend studies on the monthly timeframe show price action has been northbound since bottoming in 2008 at 70.70. Q4 (2022), as you can see,…

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June 13, 2023 BY Steffy Bogdanova

Weekly data: Focus on EURUSD and AUDUSD

EURUSD Euro doesn’t have any significant driving narrative against the US dollar, that’s why it’s likely to observe a reversal after the interest rate publication. The overall dynamics of EURUSD remain to be “technical”, as there’s no clear fundamental narrative is detected. AUDUSD The Australian dollar gained significant momentum after RBA raised the interest rate…

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Reduced retail sales curbs the pound
May 12, 2023 BY Steffy Bogdanova

Daily Report: GBP/USD eyeing break of $1.25

GBP/USD: Downside Move Unsurprising GBP/USD initially rose following the announcement to increase the Bank Rate, though it failed to find acceptance north of the $1.26 level. Subsequent flow witnessed a one-sided decline unfold to $1.25 during US trading. The recent bout of selling should not have raised too many eyebrows, particularly for those who adopt…

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Market Analysis
May 11, 2023 BY Steffy Bogdanova

Daily Report: EUR/USD displaying bullish vibe post-US CPI

Market Reaction; Where Next for the Euro? The immediate aftermath of the US CPI release witnessed the EUR/USD catch a bid and eventually knock some of the wind out of the $1.10 handle: a clear-cut bull trap which likely ensnared breakout buyers and consumed several protective stops from those attempting to fade the psychological level.…

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Daily Market Commentary
May 04, 2023 BY Steffy Bogdanova

Daily Report: EUR/USD to Push for Higher Timeframe Resistances?

EUR/USD Technical View The EUR/USD aggressively explored lower levels following the rate announcement. Leaving the underside of $1.11 unchallenged, downside pressure led H1 price action into a floor of bids around the $1.10 psychological figure. I am sure most would agree that the H1 chart is a bit of a mess; although we are rebounding…

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April 25, 2023 BY Steffy Bogdanova

Weekly data: EURUSD & Gold price action before GDP data

On the technical side the price on the fiber chart has found resistance on the upper band of the Bollinger bands and has since corrected to the downside.  The 50 SMA has crossed above the 100 SMA indicating the bull movement is still strong while the Stochastic oscillator is not indicating any overbought or oversold…

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