Last Friday’s NFP release, which came in stronger than expected, pushed EUR/USD back to the 1.3000 major psychological level. This support zone seems to be holding at the moment as stochastic reached the oversold region and started...
USD: Bullish The U.S. dollar lost ground to the euro and the pound during yesterday’s trading as both European currencies staged relief rallies when their respective central banks decided to make no changes to current monetary policies.
The falling trend line on EUR/USD is still intact for now as the pair is currently testing the 1.3100 major psychological level. That area is in line with the 38.2% Fibonacci retracement level, which might act as...
USD: Bullish It seems that a midweek reversal is gaining traction as the U.S. dollar gained against most of its higher-yielding counterparts during yesterday’s trading.
GBP/USD has been forming its usual Asian box consolidation prior to the Bank of England interest rate decision. Strong breakouts typically take place during the actual event and the direction depends on the central bank’s rhetoric.
USD: Bullish The U.S. dollar is currently benefiting from risk flows as most central banks are about to take a dovish monetary policy stance.
The AUD/USD pair has been trading cautiously around the support zone from 1.0150 to 1.0200 for the past few days, as traders waited for the monetary policy decision from the Reserve Bank of Australia. During the actual...
USD: Bullish Although the sequestration in the U.S. which started last week will likely have long-term negative effects on the economy, this event rendered price action dependent on risk sentiment once again.
Another retracement opportunity is presenting itself on EUR/USD’s 1-hour time frame as the pair has been stalling above the 1.3000 major psychological level. Drawing a trend line connecting the highs of the price shows that the potential...
USD: Bullish The U.S. dollar may have lost some ground against most of its major counterparts during yesterday’s trading but this was mostly a result of a rebound in risk and profit-taking at key levels.
