EURUSD: the Easter holidays continue

22 April, 2019

Most of the majors closed last week down against USD. The Swiss franc fell by 1.15%, the Kiwi dollar by 1.12%, the pound by 0.55%, the euro by 0.49%, the Canadian dollar by 0.49%, and the Aussie dollar by 0.30%. Only the Japanese yen gained ground against the dollar with a rise of 0.08%. Over the course of Good Friday, the euro dropped to 1.1226 before recovering to 1.1248.

Market activity is low due to the holidays. A lot of European markets are still closed today due to Easter Monday celebrations. Trading is still occurring, but with low volumes. On the hourly timeframe, our pair is in a downwards trend, so the downside risk remains.

Oil prices made some significant gains in Monday’s Asian session. This pushed the Canadian dollar into positive territory, while the other majors remain down. Oil rose on reports that the US is trying to sway countries away from Iranian oil.

Patterns and cycles indicate a flat, with a collapse expected on Tuesday and a fresh low on Thursday. It’s also possible we could get a rise to 1.1271, but this is very unlikely. For this to happen, the bulls need to break through both 1.1248 and 1.1255.


Source link   Presented by Alpari

EURUSD moving towards balance line

The EURUSD pair is currently trading at 1.1142. Since we got a false breakout of the channel's lower boundary, we expect the pair to inch upwards...

EURUSD: reversal expected

On Tuesday the 13th of August, trading on the EURUSD pair closed down. Volatility was high during the European and US sessions. Trading...

EURUSD: correction to the trend line

On Tuesday the 6th of August, trading on the euro closed slightly down. The stock market, along with the US dollar, was propped up by the strengthening...


EURUSD taking a breather at 1.12

On Monday the 5th of August, trading on the EURUSD pair closed up. The day's dominant theme was the ongoing trade dispute between the...

Bulls run out of steam at 90th degree

Trading on the safe haven currencies closed up last week, with everything else losing ground. The biggest loser against the US dollar was the pound...

EURUSD looking to revisit 1.1287 high

On Wednesday the 17th of July, trading on the euro closed up against the dollar, recovering about half of the losses incurred on Tuesday...


EURUSD: euro decline continues

On Monday the 15th of July, the euro declined against the dollar, with trading closing slightly lower than the Asian session's opening price...

Euro pressured by rampant Dollar

The Euro was trampled by the Dollar today as investors re-evaluated whether the Federal Reserve will cut interest rates in July...

A test of 1.1181 looks likely while at 1.1258

EUR/USD remains under pressure at the beginning of the week and is flirting with the 55-day SMA in the 1.1230 zone. In the meantime, another...

  


Share it on:   or