EUR/USD accelerates losses and falls to new cycle lows. Below the low for the year is the December 2002 low at 0.9859. The EUR/USD resumes the leg down and breaks below the 0.9900 level to hit a fresh two-decade low in the 0.9880/75 area on Monday. A continuation of the downtrend cannot be ruled out […]
Tag: Majors
US Dollar Index Price Analysis: Overbought Levels Could Spark a Corrective Move
DXY rises to fresh highs near 110.30 on Monday. A technical correction should not be ruled out. The US Dollar Index (DXY) extends the rise to the 110.30 zone, where it seems to have found some initial resistance. The short-term bullish view on the dollar holds for now and is underpinned by the 7-month support […]
AUD/USD remains near lows in months, RBA on Tuesday
AUD/USD is hovering in a tight range below 0.6800 on Monday. Bets on aggressive Fed rate hikes keep dollar strong. Tuesday is the decision of the Australian central bank. The AUD/USD is having a hard time making up ground on Monday and is trading in a tight band for the first half of the day. […]
USD/JPY shifts focus towards 141.50 – UOB
Additional gains could lead USD/JPY to revisit the 141.50 region on the short-term horizon, UOB Group currency strategists Lee Sue Ann and Quek Ser Leang have said. Featured Comments 24 hour view: “Last Friday we highlighted that “further USD/JPY strength is likely, although overbought conditions suggest USD/JPY may not be able to hold above 140.50.” […]
EUR/USD pressured to fresh lows below 0.9900
EUR/USD falls below 0.9900 and marks new cycle lows. Germany’s final services PMI stood at 47.7 in August. US markets will remain closed due to the Labor Day holiday. The sellers returned to the European currency and dragged EUR/USD to new lows in the 0.9880/75 region for the first time since December 2002 during the […]
Forex Today: Dollar builds on last week’s gains
This is what you need to know to trade today monday september 5: The US dollar index DXY maintains its upward momentum after gaining 0.7% last week and has reached its highest level in two decades above 110.00 early on Monday. Market caution helps the dollar continue to outperform its rivals as investors wait investor […]
GBP/USD: Bets rise for a drop below 1.1415 – UOB
According to UOB Group currency strategists Lee Sue Ann and Quek Ser Leang, GBP/USD could return below the 1.1415 area In the next weeks. Featured Comments 24 hour view: “Last Friday, we expected GBP/USD to weaken, but were of the opinion that it “might not be able to hold below 1.1500″. Our view did not […]
EUR/USD is at risk of further decline once it breaks the 0.9900 level – UOB
UOB Group currency strategists Lee Sue Ann and Quek Ser Leang suggest that EUR/USD could accelerate losses if it closes below 0.9900. Featured Comments 24 hour view: “EUR/USD rose to a high of 1.0033 during the New York session before falling sharply to as low as 0.9941. EUR/USD opened on a weak tone in Asia […]
EUR/USD Price Analysis: Range expected to hold in the short term
EUR/USD regains composure and breaks above parity level. Further consolidation seems favored at the moment. The EUR/USD fades part of Thursday’s strong selloff and manages to recover area above key parity level by week’s end. Further consolidation seems the most likely scenario in EUR/USD at least in the short term, always within the 1.0100-0.9900 range […]
EUR/USD extends gains above parity level after US NFP.
EUR/USD remains above the parity level on Friday. US nonfarm payrolls increased by 315,000 jobs in August. The unemployment rate rose to 3.7%. The EUR/USD keeps the daily supply bias unchanged and manages to retest the 1.0030 region after the release of August non-farm payrolls. EUR/USD looks well supported near 0.9900 EUR/USD remains positive on […]