Better Chinese Data Aiding Risk Appetite
Notes/Observations Better China data in session putting some impetus towards risk appetite China Mar trade surplus larger than expectations as exports beat consensus China Mar New Yuan Loans hit highest level since Feb 2017 Asia: Monetary Authority of Singapore (MAS)...
USD/JPY Outlook: Extended Bulls Pressure Key 200WMA Barrier
Extension of Thursday’s strong rally (0.58%) hit five-week high and approaches key barrier at 112.02 (200WMA) and nearby pivots at 112.19 (Fibo 76.4% of 114.54/104.59 / upper 20-d Bollinger band). Thursday’s close above 200SMA was strong bullish signal for attack...
EURUSD Targeting 1.1330
The euro currency has performed a bullish breakout against the US dollar during the European trading session, with price now rising above the 1.1290 level. The EURUSD pair is likely to target the 1.1330 level now that the bullish technical...
GBPUSD Under Trendline Support
The British pound continues to struggle below the 1.3100 level against the US dollar as traders continue to suffer from Brexit fatigue. The GBPUSD pair remains technically weak while trading below trendline support and may weaken below the 1.3000 level....
EURGBP Stuck In A Range But Bullish Signals Seem To Strengthen
EURGBP jumped above the 50-day simple moving average (SMA) and into the Ichimoku cloud on Friday for the first time since the start of the year, raising hopes for further improvement. The momentum indicators comply with this view as long...
The US Dollar Recovered Some Losses. Geopolitical Events Are Still In The Spotlight
Yesterday, the US dollar strengthened against a basket of major currencies. Positive economic data supported the US currency. Initial jobless claims fell to a 40-year low (196K), while experts expected 211K. The producer price index rose by 0.6% in March...
MAS Goes Into Neutral
MAS goes into Neutral This week FX volatility faded further, credit spread tightened while US stocks headed towards 2900. Major central banks issued warning and IMF reduced outlook. Normalization is now a thing of the past for the G10. Despite...
EUR/USD – Euro Jumps To 3-Week High As German Inflation Remains Steady
EUR/USD has reversed directions in the Friday session, after slight losses in the Thursday session. Currently, the pair is trading at 1.1311, up 0.50% on the day. On the release front, there are no major German or eurozone events. The...
BTCUSD Dives Beneath SMAs, But Finds Support At 23.6% Fibonacci
BTCUSD returned near the 23.6% Fibonacci retracement level of the upleg from 3313 to 5440 around 4940 but failed to drop below it over the last few sessions. The price found strong resistance near the five-month high of 5440, slipping...
EUR/USD Reached Weekly R2
During Thursday’s trading session, the Euro declined to the support level formed by the weekly R1 at 1.1254. During today’s morning, the EUR/USD exchange rate reversed north towards the resistance level—the weekly R2 at 1.1290. If the given resistance does...
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