EUR/GBP extends weekly decline to 0.8540. The intense sale of euros weighs on the cross in the middle of the week. UK Prime Minister B. Johnson could face another no-confidence motion. Greater weakness of the European currency drags the EUR/GBP to fresh 3-week lows in the 0.8540 area on Wednesday. EUR/GBP is pending UK policy […]
Tag: Crosses
EUR/JPY Price Analysis: Short-term outlook turns bearish
EUR/JPY adds to weekly leg down and breaks 138.00. Further losses could retest the June low at 137.83. The EUR/JPY it remains on the defensive and faces a deeper pullback on the short-term horizon. The cross now faces the possibility of further decline if it breaks below the 4-month support line around 139.40 convincingly. Against […]
EUR/GBP remains on the defensive and remains above two-and-a-half-week lows
The EUR/GBP pair fell for the third consecutive day, although it did not have continuity in the sales. The new increase in the price of gas fueled fears of a recession and continued to weigh on the euro. Political jitters in the UK acted as a headwind for sterling and should limit the slide. The […]
USD/TRY hits multi-session highs and breaks above 17.00
USD/TRY regains upward traction and breaks above 17.00. USD’s bullish bias weighs on the lira. Inflation fears continue to weigh on the currency. Further depreciation of the Turkish currency gives additional wings to the USD/TRY and motivates it to break above 17.00 on Tuesday. USD/TRY is now heading for 2022 highs near 17.40 USD/TRY extends […]
EUR/GBP falls to two-week lows at 0.8550 area on euro weakness
The euro falls throughout the market on Tuesday due to a combination of factors. EUR/GBP falls to 0.8542, the lowest since June 17. GBP/USD fall below 1.2000, favors rebound of the cross. The EUR/GBP fell from 0.8610 to 0.8542, the lowest level in two weeks, as the euro retreated across the board. The common currency […]
EUR/JPY Price Analysis: More losses below 139.25
EUR/JPY resumes downtrend after sharp drop in euro. Short-term outlook could turn negative below 139.25. EUR/JPY quickly erases Monday’s rally and breaks below 140.00 to post fresh three-week lows. If the selling pressure picks up, it could challenge the current short-term bullish bias. That said, if the cross breaks the four-month support line near 139.25, […]
EUR/JPY Price Analysis: Bullish view held as 138.80 zone broken
EUR/JPY reverses recent weakness and recovers to 141.00 and beyond. Further rallies seem likely as long as it is above the 138.80 area. The EUR/JPY It leaves behind four consecutive daily pullbacks and recovers the area above 141.00 on Monday. The bullish bias on the cross remains as long as the support line around 138.80 […]
USD/TRY hits 4-day highs around 16.75
USD/TRY adds to Thursday’s advance near 17.00. Türkiye’s manufacturing PMI dropped to 48.10 in June. Investors’ attention shifts to Monday’s CPI release. The Turkish lira loses more ground and pushes the USD/TRY to new multi-day highs near 16.75 on Friday. USD/TRY remains supported around 16.00 USD/TRY advances for the second consecutive session at the end […]
EUR/JPY Price Analysis: Corrective drop may lead to a retest of the 137.80 level
EUR/JPY continues to slide and breaks 141.00 to multi-session lows. The next move down is the June low at 137.86 (June 15). The EUR/JPY remains under selling pressure and hits fresh 2-week lows below 141.00 on Friday. Despite the ongoing correction, the bullish bias of the cross holds well as the support line around 138.70 […]
USD/TRY flirts with three-day highs around 16.70
USD/TRY leaves Wednesday’s advance behind and tests 16.70. Türkiye’s trade deficit widened to TL 10.61B. Attention now turns to Monday’s CPI release. The Turkish lira cuts some ground and pushes the USD/TRY to the three-day high zone around 16.70 on Thursday. USD/TRY appears to be supported near 16.00 USD/TRY continues the choppy trade so far […]
