EURUSD Correction Possible
The euro currency is starting to weaken against the US dollar after the pair found strong technical resistance from just below the 1.1100 level. EURUSD sellers could target the 1.0900 level if the technically important 1.0980 level is breached with...
USDJPY 108.90 Now Key
The US dollar has turned bearish against the Japanese yen currency after breaking below the technically important 110.00 level. A bearish breakout from a rising price channel has now taken place and could see the USDJPY pair falling towards the...
EUR/USD Touched Weekly R1
On Thursday, the EUR/USD currency pair raised to the 1.1050 level. During today’s morning, the pair reversed south from the weekly R1 at 1.1080. It is likely that the exchange rate could trade downwards in the nearest future. Note that...
USDCAD’s Pullback From 50-Month High Stalls At Mid-Bollinger Band
USDCAD is currently finding some footing at the mid-Bollinger band, which is encapsulated between the 1.4013 level – that being the 38.2% Fibonacci retracement of the up leg from 1.2951 to 1.4667 – and the inside swing high of 1.3994,...
Global Central Banks Rushed to Stimulus Amidst Limited Monetary Policy Tools
As the coronavirus pandemic could very likely lead the world to recession, global central banks have rushed to inject liquidity through rate cuts another other unconventional measures. However, interest rates have already stayed at very low levels before the crisis....
US Coronavirus Infections and Stocks Surge, Dollar Weakens
Dollar is set to end the week as the week as the worst performing as corrections in the financial markets extend. Asian indices are generally higher following another day of strong close in the US overnight. Yen follows Dollar as...
Xi calls for coordinated response to coronavirus at G-20 meeting
Chinese President Xi Jinping, also general secretary of the Communist Party of China Central Committee and chairman of the Central Military Commission, chairs a symposium at the School of Medicine at Tsinghua University in Beijing, capital of China, March 2,...
Initial Claims Atrocious, Stimulus Vote Still to Come
Initial Jobless Claims were released earlier today, and the number was not pretty. Yesterday, we discussed how this number was expected to be larger than any we had ever seen before. According to Bloomberg, the average estimate by economists was...
Gold Approaches 2-Week High; Recoups Strong Losses
Gold prices continue to rise above the simple moving averages (SMAs), towards the two-week high of 1,638, stretching its upward movement from the four-month trough of 1,451. According to the RSI, positive momentum could push for further gains in the...
Dollar Index Dips Through Key Supports after Downbeat US Jobless Claims Data
The dollar index accelerated lower on Thursday, extending steep pullback into fifth straight day. Fresh weakness broke below key supports at 100.28/00 (Fibo 38.2% of 94.59/103.80 rally/psychological), generating strong reversal signal. It seems that the uptrend with massive gains in...
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