EURUSD pares the biggest weekly gain since early January ever since it reversed from the monthly high on Friday. In doing so, the Euro pair prints the first weekly loss in three as Fed Chair Powell’s testimony looms. However, a golden cross on the moving average, that is a condition where 50-SMA pierces the 200-SMA from below, joins the quote’s sustained trading...
EURUSD fades bounce off 61.8% Fibonacci retracement of November-January upside as traders eye Congressional testimony of Federal Reserve Chairman Jerome Powell and US Treasury Secretary Janet Yellen. Given the sluggish MACD and the recent US dollar demand, the bears are likely to retake the controls should policymakers hesitate in accepting fears of reflation. In...
