U.S. Dollar Weakness Ahead? ADP And ISM Reports In Focus
Dear Traders, Trading was relatively quiet Tuesday with the U.S. dollar’s latest recovery losing some momentum. After crucial support zones in the EUR/USD and GBP/USD have been tested, it seems that the euro and pound could find a bottom in the near-term. EUR/USD: The euro strengthened against the greenback after dipping slightly below 1.17. With […]
Euro And Pound Depreciate Against U.S. Dollar
Dear Traders, Monday’s worst performing currency was the British pound which fell towards 1.3250 after weak U.K. manufacturing figures prompted concerns over the country’s health. The GBP/USD extended its slide this morning and tagged a low at 1.3229. On the other side, a stronger U.S. dollar contributed to the cable’s decline. After testing the crucial […]
GBP/USD Trends Lower But Prepare For Pullbacks
Dear Traders, U.S. President Donald Trump’s tax-plan announcement had little impact on the market as it foreshadows an uphill battle in U.S. Congress. While Trump said the tax-cut plan was aimed at helping working people and making the tax code fairer, there is concern about the budget deficit. The plan contained only few details on […]
U.S. Dollar Strengthens, Trump Tax Plan Back In Focus
Dear Traders, The U.S. dollar strengthened against its major counterparts as comments from Federal Reserve Chair Yellen and President Trump bode well for some renewed upward momentum in the greenback. Yellen boosted expectations for a rate hike in December, saying the Fed “should be wary of moving too gradually” in its rate hike cycle. The […]
Euro Drops Below $1.18
Dear Traders, The euro weakened against the U.S. dollar in the aftermath of the German election results while the important support area around 1.1830-1.18 remained unbroken until this morning. As mentioned in our yesterday’s analysis, for the bullish bias to diminish the euro must break below 1.1830/20, the neckline of a head-shoulders pattern that was […]
All Eyes On Theresa May Speech
Dear Traders, The U.S. dollar’s recovery turned out to be only short-lived with the British pound and euro regaining some ground against the greenback Thursday. The British pound has proven to be the best performing currency in September so far but storm clouds could gather over the currency. The pound’s recent strength has been based […]
