A brief summary of May: The dollar weakened slightly last week, in large part because it was a strong sell out on a pair of EUR / USD. Macroeconomic data from the US were mixed but they were not bad, it may suggest that growth at the end of the week, they are only a short correction before further declines. It should also be noted that the euro has weakened over...
The currency pair broke through the resistance level of 0.7420 and reached a strong resistance level at 0.7550, which was slightly exceeded. An attempt to break through this resistance should not go. The increases were initiated by the occurrence of Governor of the Bank of New Zealand, who hinted that the probability of interest rate hikes in June. An additional...
On the daily chart we can see a shooting star, which can be a precursor to change in the trend. In my opinion, it is a signal for correction of recent increases. In addition, large purchase enhances the credibility of the candle. Purpose correction estimate around $ 54 level.
Today we met mixed data from the Euro-zone, which in a sense has helped the supply side. (Very good fell fell PMI manufacturing index in Germany, which rose to 52.1 points. Also, the indicator for the industry in Italy got the better of 53.8 points. But on the other side found himself PMI for France, who dived to 48 points and the PMI for manufacturing in Spain at...
Today there has been considerable increases, which were supported by a very weak US GDP reading (0.2% vs. 1%). Part of the market has come to the conclusion that a rate hike will be reached in time. Therefore, we saw the EUR / USD at 1.1189, after having pierced the important resistance at 1.1034 and 1.1090. However, the situation turned around when we met notes...
Once again, according to yesterday's forecast currency pair recorded a new high of 1.0991. Demand side was further supported by data from the US worse (Conference Board index fell to 95.2. This is another worse US data, which show that tomorrow's meeting notes from the Fed may be dismissed in the time of a possible rate hike. Let me remind you only that the first...
Today there was a breakthrough summit in April, which resulted in the establishment of a high of 1.0928. If the dislocation of the wedge, which I pointed out in yesterday's analysis is not false, then we should see a withdrawal and then attack resistance zone, which is located between the 1,10-1,1034. Economic Calendar: Tuesday: 8:00 GfK Consumer Climate EUR in...
In the first part of the day we saw increases in the 1.0889 area which can be treated as an adjustment to recent declines. Around 1.09 level become active in the supply, which we defend the resistance which automatically led to declines in the vicinity of 1.08. Then the market waited for an hour 20:00 when we got to know the records of the minutes of the FOMC....