|Day's Range||1.084 - 1.087|
|52 Week Range||1.0655 - 1.1496|
The Euro spent most of the day falling on Thursday, as traders rushed towards the safety of the greenback. This was accelerated once we got horrible initial jobless claims figures coming out of the United States.
Based on the early price action and the current price at 1.0907, the direction of the EUR/USD the rest of the session on Thursday is likely to be determined by trader reaction to the short-term 50% level at 1.0892.
EUR/USD has broken down decisively in the early week although buyers have been supporting the pair on dips as the US dollar index faces major resistance.
We strongly believe China wants to show some strength in their perceived economic recovery and that these PMI numbers are somewhat “manufactured for effect”.
The Euro broke down significantly during the trading session on Wednesday, slicing through the 1.10 level and then breaking through the bottom of the hammer that had formed on Tuesday. That being said, it does look like we are struggling to break down below the 1.09 level so I think we are going to continue to see a lot of choppy behavior.
Market volatility will continue until the spread of the virus abates. The numbers suggest that we are some way off…
Based on the early price action and the current price at 1.0935, the direction of the EUR/USD the rest of the session on Wednesday is likely to be determined by trader reaction to the uptrending Gann angle at 1.0916. This angle stopped the selling earlier in the session.
The recovery in equity markets has stalled along with new evidence of accelerating coronavirus spreading. There is a saying in the market: ” when the US is coughing, the world has a fever”.
EUR/USD has fallen back below the 1.1000 handle after a late-day recovery yesterday. The pair fell under pressure shortly after the European open as PMI figures continued to point to an economic contraction.
European stock markets traded sharply lower Wednesday, as the latest round of purchasing manager surveys across Asia and Europe kept investors focused on the scale of the economic crisis caused by the coronavirus pandemic. The broader based Stoxx 600 Europe index dropped 2.8%. Factory activity also dropped sharply across most of Asia in March, according to Markit's PMIs, with regional economic powerhouses Japan and South Korea, major exporters to Europe, posting their biggest contractions in about a decade.
A busy economic calendar may not be enough to distract the markets. The virus continues to spread at a sharp pace in spite of lockdown measures…
The Euro fell hard during the trading session on Tuesday to break down through the 1.10 level underneath. This is an area that should attract a lot of attention and the fact that we slice right through it suggests that there may be more selling.
Based on the early price action and the current price at 1.0956, we’re looking for the selling pressure to drive the EUR/USD into the retracement zone at 1.0892 to 1.0831.
After surging just short of 5% from last week’s low, EUR/USD turned lower yesterday to end a six-day upward streak as the dollar broadly recovered.
The phrase “Chinese miracle” this year finds a new meaning. First of all, in recent weeks, it is commendable how quickly the Politburo recognized the danger of the situation in Wuhan and managed to contain its spreading across the country.
EUR/USD is building a bullish channel after a large bearish decline. What is the next expected price swing within the roller coaster ride of 2020?
The dollar traded marginally higher Tuesday, helped by gains against the more defensive currencies, the Japanese yen and the Swiss franc, on the last trading day of the month. At 3:05 AM ET (0705 GMT), the U.S. Dollar Index, which tracks the greenback against a basket of six other currencies, stood at 99.597, up 0.3%. “The talk is Japanese names are short of dollars (as the fiscal year comes to an end), which is likely to keep the dollar bid well into London time,” Yukio Ishizuki, FX strategist at Daiwa Securities, told CNBC.
European stock markets are set to edge higher Tuesday, lifted by signs of an economic stabilization in Asia. C/hina's official Purchasing Managers' Index rose to 52 in March from a plunge to a record low of 35.7 in February, above the 50-point mark that separates monthly growth from contraction. As welcome as this is, economists are still forecasting a steep contraction in China's first-quarter gross domestic product, the first such contraction in three decades.