|Day's Range||0.987 - 0.99|
|52 Week Range||0.9189 - 1.0056|
Investing.com – The U.S. dollar was roughly unchanged against its rivals Wednesday as softer U.S. economic data and a rebound in sterling kept a lid on upside momentum.
Investing.com - The dollar edged higher against a currency basket on Wednesday in subdued trade amid a lull in an escalating trade dispute between the U.S. and China.
U.S. West Texas Intermediate and international-benchmark Brent crude oil futures closed lower on Tuesday as investors continued to express concerns over a possible increase in OPEC crude supply. Also pressuring prices were the escalating trade dispute between the United States and China.
Japan’s yen and the U.S. dollar strengthened against their major rivals on Tuesday, as the escalating trade conflict between the world’s two biggest economies sent investors scrambling for safer assets. Trade tensions between the U.S. and China were already heightened, when President Donald Trump threatened to slap new import levies on up to $400 billion of Chinese goods late Monday, on top of the $50 billion his administration has already detailed. China responded on Tuesday, saying Beijing will have no choice but to take comprehensive measures in response to the U.S.’s trade moves.
In case if the pair continue trading southwards after 1.1440, the 1.1370, the 1.1330 and the 1.1300 may please the Bears. Assuming that the pair reverses from current levels, the 1.1650 and the 1.1730 can act as immediate resistances before highlighting the 1.1835-50 area for one more time. Alike EURUSD, the NZDUSD is also near to important support-zone, namely the 0.6885-80, but break of which might not trigger the pair’s plunge as an upward slanting trend-line, at 0.6860 now, could still challenge the sellers.
Haven currencies, including the Japanese yen and Swiss franc, inched higher in muted trading Monday, as the trade row between the U.S. and China remained in focus. Trade tensions have been on the rise, with China vowing to retaliate against a U.S. round of tariffs by slapping duties on American export products, including crude oil, and suspending all previous trade agreements with President Donald Trump’s administration. Uncertainty over future relations between the two trade giants saw investors drop risky emerging-market currencies and go for safer ones.
Investing.com – The U.S. dollar was roughly unchanged against its rivals Monday as trade-war angst fuelled demand for safe-haven currencies, keeping a lid on upside momentum in the greenback.
Break of nearly a month-old descending trend-channel signals the USDCHF’s upside towards 0.9900 and the 0.9930-35, if it manages to sustain the breakout, but the 0.9955-60 horizontal-area might confine the pair’s further recovery. In case the quote successfully clears the 0.9960 barrier, the 1.0000 round-figure and the 1.0055 are likely intermediate hurdles that needs to be surpassed in order to meet the 61.8% FE level of 1.0110. On the contrary, pair’s drop below resistance-turned-support figure of 0.9860 can reprint 0.9830 and the 0.9800 mark before taking rest around the ...
For the FX traders, today is all about the FED and all the events surrounding this institution like the rate decision, statement and economic projections. USDCAD is attacking the upper line of the ascending triangle pattern. H4 candle closing above the horizontal resistance will give us a mid-term buy signal.
The breakaway gap in the Euro (in this article, we use “Euro” to refer to the currency pair EUR/USD) on the 24th of April 2017 on the back of positive first round French election results that weekend broke through a resistance trendline from 2014, a 5-month ascending triangle and the 200-day moving average. It heralded a reversal in the trend of the Euro and what followed was a near 1-year rally that took the price from 1.087 to a high of 1.2558, a rise of 15.5%. After consolidating in a symmetrical triangle, the Euro broke to the downside and has been falling for over a month now.
Pictet Asset Management said on Wednesday it had raised exposure to the Swiss franc while remaining short on the euro due to the prospect of further political turmoil in the region. Pictet chief strategist Luca Paolini told clients the fund remained short the euro "given the political uncertainty in Italy and Spain, as well as the weakening of economic momentum. "In addition, we have raised our exposure to the Swiss franc – a currency that should gain in the event of geopolitical turmoil," Paolini said.
Even after bouncing off the 1.1510, the EURUSD has multiple resistances to clear in order to justify its strength. The first one will be six-week old descending trend-line figure of 1.1725, followed by the 1.1745-50 horizontal-region and the 1.1830-35 resistance-area. If prices manage to surpass 1.1835, the 1.1900 and the 1.1940 may mark their presence on the chart. Alternatively, the 1.1645-40 can offer immediate support to the pair, breaking which it can drop to 1.1580 and then to the 1.1510. Assuming sellers’ ability to drag the quote beneath 1. ...
Investing.com - The euro pared back gains on Thursday as the U.S. imposed steel and aluminum tariffs on the European Union, Mexico and Canada, backing away from the highs of the day hit earlier amid easing concerns over the Italian political crisis.
Though there still remains a significant amount of uncertainty, recent populist movements in Italy have created the possibility of ending the national use of the Euro. Naturally, as a nation of over 60 million and the third largest nation in the Eurozone (after Germany and France), Italy’s abandonment of the Euro could spark a wide variety of far-reaching changes.
Investing.com -The euro rebounded from ten month lows against the dollar on Wednesday, erasing the previous day’s losses as financial markets recovered from a steep selloff sparked by political turmoil in Italy.
Even if immediate descending trend-line restricts the USDCHF’s near-term upside, the pair is yet to conquer more than three-month old upward slanting TL, at 0.9855 now, in order to stretch its latest pullback towards 0.9810 and then to the 0.9785, comprising 50-day SMA. Given the seller’s refrain to respect the 0.9785 mark, the 0.9720 and the 200-day SMA level of 0.9700 can appear on the chart. Should the 0.9855 trend-line number triggers the pair’s U-turn, the 0.9900, the 0.9930 and the 0.9955 are likely adjacent resistances that can be aimed while being long but the 0. ...
Investing.com -The euro rose back above the $1.16 level on Wednesday as it recovered after falling to multi-month lows the previous day as fears over political turmoil in Italy roiled markets.
The dollar flexed its muscle against the euro Tuesday, as political turmoil in Italy and Spain sent the shared currency to a six-month low against the U.S. unit. The ICE U.S. Dollar Index (IFUS:DX-Y.NYB), which gauges the currency against a half-dozen major rivals, climbed 0.7% to 94.827, and the WSJ Dollar Index(CALCULATED:BUXX), which measures the buck’s performance against 16 rivals, picked up 0.2% to 87.53.
Investing.com - The euro bounced off the worst levels of the day on Tuesday after comments by the leader of Italy’s Five Star political party calmed investors’ concerns over the prospect of an Italian exit from the euro zone.
The start of the week’s trading took place around excitement in the political situation in Italy and the unsuccessful attempts of Crude Oil to rebound.
Investing.com - The euro fell to its lowest level since November against the dollar on Tuesday as political turmoil in Italy and Spain weighed, while the safe haven yen posted broad gains amid widespread risk aversion.
GBPJPY is on our radar for a long time. We were expecting the price to fall down and that is what is happening. Very good, technical setup. The price broke all major supports and is in the free fall, coming back to the long-term downtrend. Potential profit is huge!
The Swiss National Bank appears to have refrained from currency market intervention of late despite the safe-haven franc's renewed strength, sight deposit data released on Monday suggest. Total sight deposits only edged up to 576.63 billion francs in the week ended May 25, from 576.38 billion the week before. A rise in sight deposits can indicate central bank intervention to weaken the franc.