GBP/USD Heads For Test of 1.35, More Gains Ahead?
The EUR/USD consolidated between 1.1340 and 1.1290 while the GBP/USD headed for a test of 1.35 this morning. Sterling bulls will pay attention to a break above 1.3525 which could spur bullish momentum towards 1.36. A current support is however seen at 1.34. Elsewhere, the DAX seems to be on its way toward 16400. As […]
EUR/USD: Bearish Breakout Below 1.13
The U.S. dollar rally continues and while king dollar remains bid, the EUR/USD sells off even more aggressively this morning. With Austria and Germany imposing restrictions on unvaccinated people and with the European Central bank lagging behind the Federal Reserve in tightening its monetary policy there is very little demand for euros right now. EUR/USD […]
EUR/USD Drops Below 1.14 – Further Lows in Sight?
The U.S. dollar strengthened Monday on speculation the Federal Reserve may have to speed up policy tightening to fight price pressures. The euro fell victim to the greenback’s strength and broke below 1.14. The focus will now be on U.S. retail sales scheduled for release today at 13:30 UTC. EUR/USD- technical picture The pair fell […]
U.S. Dollar Pauses Rally, For Now
Welcome to a new trading week. What will be in focus this week? We have some Federal Reserve speak in the days ahead as well as the U.S. retail sales report on Tuesday. Retail Sales are poised to show an acceleration in October which could trigger a bullish reaction in the U.S. dollar. EUR/USD – […]
Greenback Holds Rally, EUR/USD And GBP/USD Approach Oversold Territory
The greenback held its rally in the wake of high inflation and tensions between Russia and Ukraine. The GBP/USD trended lower toward 1.3350 and as long as the cable remains below 1.35, a test of the lower target at 1.33 is likely. EUR/USD – Technical view: We got what we have been looking for. A […]
U.S. Dollar Resumes Rally After Highest Inflation Print in 20 Years
The U.S. dollar rose to fresh highs against the euro and British pound after the U.S. inflation print showed the highest annual rate of inflation in over 20 years at 6.2 percent. Rate hike bets surged as investors began to price in tighter monetary policy from the Federal Reserve in order to curb inflation. The […]
