EUR/USD bulls entered a strong offensive phase Thursday, following Eur130 billion German fiscal stimulus, with additional impetus provided by the ECB exceeding expectations for a Eur500 billion PEPP boost.
Key risk events today: Australia Trade Balance; ECB Main Refinancing Rate, Monetary Policy Statement and Press Conference; Canada Trade Balance; US Unemployment Claims. (Previous analysis as well as outside sources – italics). EUR/USD: Europe’s single currency derived fresh impetus from upbeat Eurozone services PMIs and continued USD depreciation Wednesday. The US dollar index recorded its … Continue reading Thursday 4th June: Technical Outlook and Review
Dear Trader,
Please find our updated Trading schedule for the Queen’s Birthday Holiday in Australia on Monday, 08th June 2020. Times mentioned below are Platform time (GMT +3).
The US dollar index, or more commonly referred to as the ‘DXY’, declined to levels not seen since March 13 on Tuesday after recording its sixth consecutive daily loss.
Despite Monday’s advance, a turn from 1.1157/1.1099 places 1.0995 on the hit list as support; alternatively, additional upside has resistance at 1.1239 calling for attention (essentially the same base as weekly QM).
