EUR/USD H4 movement came within touching distance of reaching support at 1.1221 (a prior Quasimodo resistance), before marginally recoiling. This level joins closely with the 1.12 handle and 38.2% Fibonacci retracement ratio at 1.1173.
Global Markets: Asian Stock Markets : Nikkei up 4.88%, Shanghai Composite up 1.44%, Hang Seng up 2.62%, ASX up 3.89% Commodities : Gold at $1732.15 (+0.29%), Silver at $17.51 (+0.63%), Brent Oil at $39.76 (+0.10%), WTI Oil at $37.09 (-0.08%) Rates : US 10-year yield at 0.736, UK 10-year yield at 0.230, Germany 10-year yield … Continue reading Tuesday 16th June: Asian markets gain on Fed’s comments on commercial bond buying.
The US dollar, represented by the US dollar index, switched gears Monday and turned lower, consequently snapping a two day-bullish phase. On the EUR/USD front, H4 support at 1.1221 (a prior Quasimodo resistance), maintained its presence, bolstered by H4 trend line support, taken from the low 1.0727.
Global Markets: Asian Stock Markets : Nikkei down 3.47%, Shanghai Composite down 1.02%, Hang Seng down 2.24%, ASX down 2.19% Commodities : Gold at $1724.85 (-0.72%), Silver at $17.26 (-1.26%), Brent Oil at $37.66 (-2.76%), WTI Oil at $34.78 (-4.08%) Rates : US 10-year yield at 0.664, UK 10-year yield at 0.178, Germany 10-year yield … Continue reading Monday 15th June: Asian markets continue to tumble
A favourable euro wind elevated EUR/USD over the past three weeks, recently delivering a blow to the 2020 yearly opening level at 1.1222. However, impetus lacked in recent trade after shaking hands with long-standing trend line resistance, extended from the high 1.2555.
