EUR/USD witnessed a resurgence of bidding last week, establishing a robust position north of the 2016 yearly opening level at 1.0873. Should the single currency remain on the winning side of the table going forward, the 2020 yearly opening level from 1.1222 could eventually put in an appearance, followed by Quasimodo resistance at 1.1239.
Key risk events today: US ISM Manufacturing PMI. (Previous analysis as well as outside sources – italics). EUR/USD: Despite a knee-jerk reaction to lows at 1.0833, after the ECB fell on the dovish side of the fence, EUR/USD swiftly reclaimed 1.09+ status, tackling H4 Quasimodo resistance at 1.0967 into the closing stages of Thursday’s session. … Continue reading Friday 1st May: Technical Outlook and Review
Key risk events today: China Manufacturing PMI and Non-Manufacturing PMI; New Zealand ANZ Business Confidence; French Flash GDP q/q; German Retail Sales m/m; Spanish Flash GDP q/q; EUR Prelim Flash GDP q/q; ECB Main Refinancing Rate, Monetary Policy Statement and Press Conference; Canada GDP m/m; US Unemployment Claims; US Personal Spending m/m; Chicago PMI. (Previous … Continue reading Thursday 30th April: Technical Outlook and Review
Dear Trader,
Please find our updated Trading schedule for Buddha’s Birthday Holiday on 30th April 2020, and Labour day Holiday on 1st May 2020.
After a dominant showing off 1.2647 the week prior, shaped as a shooting star candlestick pattern, last week’s movement slipped to lows at 1.2247, led by an overall stronger dollar. GBP/USD now has eyes for support at 1.2200.
