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Euro Traders Profit From Weakening U.S. Dollar

May 18, 2017 in /by

Dear Traders, The U.S. dollar is taking its cue from political turmoil surrounding the Trump administration. In times of political uncertainty and unpredictability in the U.S., many investors got rid of their dollar positions which contribute to the recent dollar weakness. The euro, in return, benefited from the weakening greenback and rose towards 1.1175. There […]

Euro Bulls Profit From U.S. Dollar Weakness

May 15, 2017 in /by

Dear Traders, The U.S. dollar traded lower against the euro and British pound after U.S. retail sales and CPI data fell short of estimates. Following Friday’s softer reports, the odds for a Federal Reserve rate increase next month have fallen to about 70 percent, even though data was still good enough to bolster the case […]

BoE Disappoints, Pound Falls, What’s Next?

May 12, 2017 in /by

Dear Traders, The Bank of England disappointed investors that have been buying the British pound ahead of the Inflation report as the medium-term inflation forecast came in lower than expected. Traders who had hoped for a hawkish tone or more than one dissent calling for a rate hike in the BoE’s monetary policy statement were […]

Euro And Cable Test Crucial Support Levels On USD Strength

May 10, 2017 in /by

Dear Traders, Sellers in the EUR/USD and GBP/USD profited from a stronger U.S. dollar on Tuesday. The current strength in the greenback is of a more technical nature since market participants are tending to take profit on long positions when currency pairs approach overbought territory. Hence, a pullback was the logical consequence. Moreover, the Federal […]

Forex Market Is Fairly Quiet In The Absence Of Market Movers

May 9, 2017 in /by

Dear Traders, While concerns over French elections have disappeared after the market-favorable Macron victory, the euro’s response was anything but enthusiastic. Rather, the single currency favored lower price targets near 1.0915 after having rejected the 1.10-resistance. Euro traders should now pay attention to the 1.0890-support level which may prove to be the new lower bound […]

Will NFP Help Or Hurt U.S. Dollar?

May 5, 2017 in /by

Dear Traders, The biggest story on Thursday was the rise of the euro which has surged to a high of 1.0987. The euro is currently supported by expectations of a Macron win in the final round of French elections this Sunday. While we bear in mind that if Le Pen surprises on Sunday, the market’s […]

All Eyes On Draghi: Will He Talk Down The Euro?

April 27, 2017 in /by

Dear Traders, The British pound finally broke above 1.2865 this morning and a next hurdle could now be at 1.29. If the pound rises above 1.2910 we may see a run for 1.30. Let’s us wait and see. The much anticipated U.S. tax plan disappointed investors as it left too many unanswered questions and did […]

Can The Euro Hold Onto Its High Price Level?

April 26, 2017 in /by

Dear Traders, The euro broke above Monday’s spike high at 1.0923 but gains were capped at 1.0950, at least for the time being. The question now is whether there is still room for further gains. Looking at the 4-hour and daily chart we see that the EUR/USD is in overbought territory, a situation that increases […]