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Euro And Pound Soar Amid Low Liquidity

Dear Traders, The euro and pound sterling have soared to fresh highs amid low trading volumes. The upward movement in both EUR/USD and GBP/USD was not only driven by low liquidity but also by a weakening U.S. dollar. While trading volume was low with most U.S. market participants being offline for the long holiday weekend, […]

EUR/USD Remains Below 1.18, GBP/USD Faces 1.33

Dear Traders, The euro ended the trading day virtually unchanged against the U.S. dollar after a bullish reversal towards 1.18 has proved short-lived. We now expect the EUR/USD to trade lower towards 1.1680 unless we see a sustained break above 1.18 and farther 1.1840, which would shift the bias in favor of the bulls. The […]

USD Weakness Sends EUR And GBP Soaring

Dear Traders, While the House passed its version of tax bill Thursday, the U.S. dollar was little impressed and plunged during the Asian session amid low trading volumes. The EUR/USD traded higher in the early European trading hours and we now focus on the 1.1850-barrier, which could prove crucial in terms of further bullish momentum. […]

USD Dips On Concerns Over Tax Cut

Dear Traders, We finally saw larger market swings Thursday with the EUR/USD finding directional bias toward the North. The catalyst for the weakening USD was news the U.S. Senate would delay tax cuts to the corporate rate until 2019 and while a delay is not what dollar bulls want to hear right now, they sold […]

Forex Market Remains Subdued

Dear Traders, The price action in both EUR/USD and GBP/USD remains subdued amid the lack of market-moving economic reports and risk events throughout this week. EUR/USD: The euro stabilized above the 1.1550-level and appears to be headed for another test of the 1.1615-resistance. If the 1.1615/20-barrier gives way to fresh bullish momentum we may see […]

EUR/USD And GBP/USD: Rebounds May Be Short-Lived

Dear Traders, Markets were relatively quiet at the beginning of this eventful week while both GBP/USD and EUR/USD were accompanied be a slight upward tendency. We believe that the slight rebound in the euro and British pound could be of a temporary nature as the U.S. dollar faces some event risks with the FOMC decision […]