The currency pair surged last week and tested 1,2980. We have described the reasons for weak USD in our weekly EUR/USD review. We can see a reversal pattern on the chart close to the resistance area. However, this pattern is not clear and we recommend waiting for more confirmations before making decisions.
The currency pair surged last week on the expectations of worse US labor market data. However, this data was mixed as non-farm employment change was worse than expected but unemployment level was better than forecasted. There are several ECB and FOMC heads speeches this week. We can see a reversal pattern but it is far from the levels. We advise waiting for the...
The currency pair surged last week but started a correction on Friday after testing 1.2980. The Bank of England was optimistic but the governors have paid attention to the fact that they are ready to work with negative interest rates if necessary. The situation is unclear on the Daily chart. GBP/USD is able to retest 1.2980 targeting 1.3232 on the one hand. The...
The currency pair had a correction last week and tested 1.1802. EUR/USD stays above this level at press time. We have a hammer pattern on the Daily chart, which gives hopes to the Bulls for the price to reach 1.1950 this week. The Fed meeting was one of the most important events last week. US central bank’s governors confirmed their commitment to the current...
The currency pair tested 1.3232 last week. There was no trend as there was a lack of important data from the UK and the US. There are few data updates this week. GBP/USD is likely to test 1.2980. It is important to track the results of this testing.
The currency pair tested 1.1950 last week and plunged later. Attention was focused on the Eurozone’s PMI data. They were worse than expected allowing USD to gain back its positions. EUR/USD ended the week close to 1.1802. There are not many data updates this week. We recommend paying attention to 1.1802 testing results. If EUR/USD breaks this level down, the...
The currency pair surged last week and has broken out 1.2677 resistance area. GBP/USD resumed the uptrend thanks to the global investors’ optimism. We expect GBP/USD to develop its growth this week targeting 1.2980.
The currency pair developed its growth last week as the investors’ moods remain optimistic. EUR/USD growth was supported by Friday’s Eurozone PMI data. French Services PMI has reached its pre-crisis levels. German PMIs were green as well. All those data releases contributed to EUR/USD growth. We expect the currency pair to develop its growth targeting 1.1802.
The currency pair surged last week and hast tested 1.2677 resistance area. We did not expect serious changes due to the lack of data. There is a reverse signal on the daily chart. GBP/USD is likely to move targeting 1.2372.
The currency pair had no tendency last week according to our expectations. The main reason for that trendless fluctuations was the lack of important data. US non-manufacturing ISM was among the most important indicators last week. It surged to reach 57.1. This was forecastable as the US are abolishing restrictions and reopen its economy. As for the US PPI data, it...
The currency pair attempted to grow last week but failed. GBP/USD stays below 1.2372 at press time. There was no important news from US and UK. The markets are still influenced by the global crisis fears. We expect GBP/USD to develop its downtrend targeting 1.2108. This scenario will be cancelled if GBP/USD retests 1.2372.
The currency pair has tested 1.1285 resistance area again last week but retreated from that level. EUR/USD stays below at press time. German and French PMIs were the main drivers last week. They were above expectations allowing EUR/USD to retest 1.1285 again. However, fears about the global economy prevent the currency pair from developing the uptrend. We expect...
The British pound has tested 1.2677 last week and retreated from that level later. UK currency’s weakness can be explained by the rise of coronavirus infection cases in several US states and the growing fears about the Brexit. We expect the currency pair to develop the downtrend targeting 1.2372 this week. However, there is another scenario in which GBP/USD is...
The currency pair managed to develop its growth last week after the testing of 1.1285. EUR/USD ended up below that level. The reason for USD surge was the information about the growth of coronavirus cases in some US states. This news had negative impact of the stock market as well. Even so, EUR/USD had some support from the information coming from the European...
GBP/USD Review, June 8-12, 2020 The currency pair went upwards last week and tested the 1.2677 resistance area. GBP/USD tests this level at the moment of writing. There were no important events in the UK last week. It is better to watch how GBP/USD is going to finish testing 1.2677. If it breaks the resistance out, GBP/USD is going to target 1.2980.
The currency pair developed its growth last week and has broken out the 1.1285 resistance area. EUR/USD tests this level at press time. The main reason for its growth was growing risks appetites due to the relaxation of quarantine measures. Investors are also positive about the opinion that the world economy is able to have V-shape recovery. European bankers have...
The currency pair has tested 1.2372 resistance area. British Pound has received support from positive factors, which we have described in our EUR/USD review. As for the forecasts, if the currency pair breaks out 1.2372, GBP/USD will be able to develop its growth towards 1.2677. Otherwise, the currency pair is going to target 1.2108.
The currency pair went upwards last week as the risk appetites are growing. Positive news about the possibility of obtaining the COVID-19 vaccine in the nearest future and the opinion of several experts about the probability of V-shaped economic recovery have given the support at the risky assets. US GDP data was the only important release to pay attention. The...