Since yesterday there has been sudden changes in EUR/USD pair. The price fell down from 1.2271 to below than MA100 to 1.2213 with again recovering to 1.2261 above MA100. But today market starts above moving average with showing no abrupt changes and nearly most famous indicators like RSI(14) STOCH(9,6) MACD(12,26) in both hourly and daily time frames showing sign of bull flag except William scaring investor with overbought signals. Now mostly investors are calm and waiting for new economic sentiment report because previous report make the price of EUR/USD fell from 1.1783 1.1719 nearly 65 pips.
Sept. 06, 2017 /Yassine Maaroufi/ -- The EURUSD fell 1.42% from last week’s high of 1.2070 after weak economic data relative to the major European economies. However, the pair stayed on the same course and did not break the previous uptrend. The EURUSD has been gaining steam since the beginning of the year, switching gears in mid-April and mid-June to rise even higher.
August 29, 2017 /Yassine Maaroufi/ -- The EURUSD has extended on the upside 2.09% to 1.2026 after bursting out of a small correction. The EUR has been rallying since the beginning of 2017 with additional strength in April and August. The first part of the rally sent the Euro up 1.47% from 1.0449 to 1.0602 and the second part 5.33% from 1.0602 to 1.1168. The third and probably last wave has started from 1.1168 and should send it even higher.
August 17, 2017 /Yassine Maaroufi/ -- Broadly, the US Dollar continues to slide against the Euro. It reached a low of 1.16 against the Euro while it was almost at parity in the beginning of the year. Against the Canadian Dollar it fell from 1.38 in the middle of May to 1.24 in the end of July before rebounding towards 1.28. Bolstered by strong economic data, the USD corrected its course against the Euro this week, moving towards a four-month old support line.
August 7, 2017 /Yassine Maaroufi/ -- The Australian Dollar is breaking out of its previous bearish trend even if interest rates were kept on hold during last week’s central bank meeting. The cash rate stayed at 1.50% as a precautionary measure in the face of an uncertain economic outlook.
July 25, 2017 /Yassine Maaroufi/ -- The USD index measuring the average value of the USD against a basket of currencies is on the downside since the beginning of the year. It clearly broke with the uptrend in the end of April after bursting through a year strong support line. The index is heading towards the 200 moving average where it could possibly bounce. Globally its evolution gives a hint over the bearish perspective of the USD.
July 16, 2017 /Yassine Maaroufi/ -- This week’s soft talk delivered by Yellen triggered a stronger stock market but opened the US dollar to additional losses. The prospects of a looser monetary policy have sent international investors seeking higher returns towards other currencies. Growing risk appetite is attracting capital away from the dollar and into economies with a stronger growth potential.
July 9, 2017 /Yassine Maaroufi/ -- The Manufacturing PMI is at or below expectations in the Eurozone for Spain, Italy, France and Germany this week. Spain in particular released figures below expectations and previous numbers showing a fall in confidence from local manufacturers. However, the Services PMI index was more mixed with divergent signals with good figures for the French and Spanish economies and low figures for the Italian economy.