EUR/USD held on to the bulk of its losses last week, down more than 1.00% at the close of trade. The 2016 yearly opening level from 1.0873 ceded ground, consequently exposing channel support, taken from the low 1.1109. Further supporting sellers is the primary trend, down since topping in early 2018, at 1.2555.
This Monday, 17th February, marks President’s Day in the US. As this is a federal holiday in the US, there will be a change in trading hours, with regular hours resuming Tuesday 18th February. Please refer to the table below for the temporary trading hours. Traders should be aware that in the event of low … Continue reading President’s Day Trading Hours 2020
EUR/USD held on to the bulk of its losses Thursday after breaching H4 support at 1.0857, consequently shaking hands with a 161.8% Fibonacci extension at 1.0838. Yesterday’s descent, aside from a brief pause on February 11th, registered its eighth successive decline.
Key risk events: EU Economic Forecasts; US CPI m/m and Core CPI m/m. (Previous analysis as well as outside sources – italics). EUR/USD: Wednesday had the US dollar index pare Tuesday’s losses, resuming its upward trajectory through 99.00. For the record, Federal Reserve Chairman Jerome Powell aired little regarding the US economy. Developments on the … Continue reading Thursday 13th February: Technical Outlook and Review.
The euro fell victim to sustained USD strength Monday, with the US dollar index reaching highs of 98.88, poised to approach the 99.00 handle.
The weekly timeframe has price action nearing support, shaped in the form of a 2016 yearly opening level at 1.0873.
