EURUSD portrays a corrective bounce from the weekly low, snapping a two-day losing streak, as the pair traders await speeches from European Central Bank (ECB) President Christine Lagarde and Federal Reserve (Fed) Chairman Jerome Powell, scheduled late Friday. In doing so, the Euro pair reverses pullback from a five-month-old horizontal resistance as the RSI (14)...
EURUSD hovers near the highest level in 14 weeks, recently picking up bids to reverse the previous day’s pullback from the 61.8% Fibonacci retracement of the July-October downside, also known as the Gold Fibonacci ratio. Apart from the key Fibonacci ratio surrounding 1.0965, the overbought conditions of the RSI (14) line also challenge the Euro buyers. It should,...
EURUSD appears all-set for the weekly gain even if a three-month-old descending resistance line and the overbought RSI (14) restrict the pair’s immediate upside. It’s worth noting that the bullish MACD signals and the quote’s successful trading above the key Fibonacci retracement ratios, as well as the SMAs, keep the buyers hopeful. That said, the 61.8% and 50%...
EURUSD consolidates the previous losses within a six-week-old rising channel, forming part of a multi-day-long bearish flag chart formation, currently between 1.0760 and 1.0590. It’s worth noting that the firmer RSI (14) line, not overbought, joins the bullish MACD signals to favor the Euro pair’s further recovery towards the 1.0760. However, a convergence of the...
Softer prints of the Eurozone inflation joined the overall risk-off mood and slightly upbeat US data to drag the EURUSD pair down on Tuesday. Adding strength to the bearish bias are the hopes of witnessing one more rate hike from the US Federal Reserve (Fed) during 2023, as well as the bearish MACD signals and steady RSI. However, a one-month-old ascending trend...
EURUSD stays within a three-month-old bearish trend channel despite rising the most in October the previous day. Adding strength to the bearish bias is the looming bear cross between the 100-day SMA and the 200-day SMA, as well as the steady RSI (14) line. However, three-week-long horizontal support surrounding 1.0500 joins the bullish MACD signals to restrict the...
EURUSD bulls struggle at a weekly high while waiting for inflation clues from Germany and the US, as well as the Fed Minutes, on Wednesday. That said, an upside break of the 21-day SMA and bullish oscillators keep Euro buyers hopeful. However, a three-month-old falling resistance line and a horizontal region comprising multiple levels marked since late May, around...
EURUSD stays defensive within a short-term bearish chart pattern after recovering from the Year-To-Date (YTD) low in the last two consecutive days. The corrective bounce also crossed a two-week-long falling resistance line and gains support from the bullish MACD signals, as well as the upbeat RSI (14) conditions, to suggest the Euro pair’s further advances....
EURUSD pares weekly losses ahead of the key inflation data from the Eurozone and the US. In doing so, the Euro pair rebounds from horizontal support comprising lows marked since November 2022, around 1.0485-80, as the RSI (14) takes a U-turn from the oversold territory. The same joins the looming bull cross on the MACD to direct the pair towards the nine-month-old...
EURUSD fades bounce off an ascending support line stretched from early January as market players brace for the US Federal Reserve (Fed) monetary policy announcements on Wednesday. It’s worth noting, however, that the RSI (14) line is nearly oversold and the MACD flags bull cross, which in turn favors the Euro pair’s sustained trading beyond the stated support...
EURUSD braces for the first weekly gain in nine as markets await the key European Central Bank (ECB) Interest Rate announcement. In doing so, the Euro pair extends the previous week’s rebound from the 78.6% Fibonacci retracement of March-July upside, near 1.0680 by the press time. The corrective bounce also gains support from a looming bull cross on the MACD...
EURUSD braces for the eighth consecutive weekly loss despite the latest hesitance of the bears surrounding the bottom line of the 1.5-month-old descending trend channel. It’s worth noting that the nearly oversold RSI line and sluggish MACD signals suggest a corrective bounce of the Euro pair, which in turn highlights the previous support line stretched from late...
EURUSD extends recovery from the 200-DMA, as well as an upside break of a fortnight-old descending resistance line, as markets await the Eurozone inflation data and the Fed’s favorite inflation gauge, namely the US Core PCE Price Index. That said, the looming bull cross on the MACD and upbeat RSI (14), not overbought, also keep the Euro buyers hopeful. However, a...
EURUSD prepares for the sixth consecutive weekly fall as ECB and Federal Reserve bosses prepare for the annual showdown at the Jackson Hole Symposium. That said, the Euro pair remains pressured within a one-month-old descending trend channel amid downbeat RSI and MACD conditions, which in turn suggest less downside room and highlights the stated channel’s bottom...
In addition to posting the fourth consecutive weekly losses, the EURUSD also ended the week on a negative note while piercing a 10-week-old rising support line, now immediate resistance around 1.0950. Also keeping the Euro sellers hopeful are the bearish MACD signals. However, the RSI (14) line is below 50.0 and suggests bottom-picking, which in turn highlights...
EURUSD bears appear running out of steam during the fourth weekly loss as it grinds near the key support confluence within a five-month-old bullish channel ahead of the US inflation. In doing so, the Euro pair seesaws between a three-week-old falling resistance line and a confluence of the 100-DMA and a rising support line from November 2022, respectively near...
EURUSD dropped in the last two consecutive weeks as it fades bounce off a two-month-old rising support line. The recovery previously gained support from the RSI’s rebound from the overbought territory, as well as the looming bull cross on the MACD. However, a convergence of the 50-SMA and a fortnight-long falling resistance line, close to 1.1100-1105 at the...
Despite the Fed-inflicted volatility, the Gold price remains bullish as markets brace for the European Central Bank (ECB) monetary policy meeting. That said, successful trading beyond the 50-EMA and 200-EMA, respectively near $1,950 and $1,904, keeps the buyers hopeful. Also acting as short-term support is the 50% Fibonacci retracement of the pair’s February-May...
