Europe’s single currency firmed Monday, benefitting from continued decline in US Treasuries and the dollar’s demise. the DXY cracked 95.00, levels not seen since October 2018. 1.14 was taken to the upside in early trade, with the latter pencilling in support for the remainder of the day.
EUR/USD bulls went on the offensive last week, sharply extending gains. Adding more than 250 points, price bettered long-term channel resistance, extended from the high 1.1569.
Key risk events today: Canada Employment Change and Trade Balance; US Unemployment Rate, US Average Hourly Earnings m/m, US Non-Farm Employment Change, US Unemployment Rate. (Previous analysis as well as outside sources – italics). EUR/USD: Regaining the 1.12 handle in recent trade, H4 price, leaving January’s opening level at 1.1222 unopposed, is now seen retesting … Continue reading Friday 6th March: NFP Day – Remain Vigilant
Dear Trader,
On Sunday the 08th of March, IC Markets Trading servers will move forward by one hour from GMT+2 to GMT+3 as the US will enter daylight savings.While trading for most products will remain unaffected, there will be a change in the trading hours of some products.
Key risk events today: OPEC Meetings; BoE Gov Carney Speaks; BoC Gov Poloz Speaks. (Previous analysis as well as outside sources – italics). EUR/USD: For traders who read Wednesday’s technical briefing you may recall the following: The test of 1.12 could be interesting as possible resistance, having seen daily Quasimodo resistance at 1.1199 merge with … Continue reading Thursday 5th March: Technical Outlook and Review
