FXTM information and reviews
OctaFX information and reviews
FXCC information and reviews
Libertex information and reviews
FxPro information and reviews
HotForex information and reviews

Buyers strive to keep the bullish trend alive

20 August 2020

The euro slipped 0.79% to 1.1837 by the close of trading on Wednesday, August 19. The pair traded in a narrow range of 1.1923-1.1953 ahead of the North American session. The dollar spiked higher after the FOMC released the minutes from its latest meeting. Conversely, stock indices and major currencies plummeted.

The US dollar began to strengthen before the minutes came out, and the release helped push the US currency higher. The minutes brought nothing new for market participants. The FOMC’s narrative frustrated investors who were hoping for a significant improvement in the economy following massive monetary and fiscal stimulus.

According to the minutes of the FOMC meeting held on July 28-29, the committee members noted ongoing uncertainty in the economy, while some members acknowledged the need for additional support measures to bring inflation back to the 2% target.

In the upshot, the single currency dropped from 1.1949 to 1.1830 (-119 bps).

Today’s macro agenda (GMT+3)  

The decline in EURUSD halted at the 135th degree of the Gann angle. This points to a reversal, but the trend might not have legs. In line with our forecast, we expect to see a recovery to 1.1893 (rebound towards the balance line). We are not looking for upside above the balance line, since bullish divergence has not shaped up on the hourly timeframe.

The FOMC minutes knocked the wind out of buyers as bullish momentum ran out of steam. Given yesterday's plunge, the euro runs the risk of correcting lower to 1.1775. If the price action returns to the balance line before 13:00 (GMT + 3), then a recovery to 1.1966 could take hold by Tuesday, August 25. Gold price is also sluggishly on the rise.




US Dollar Index adds to recent losses and retests 95.40 ahead of data
US Dollar Index adds to recent losses and retests 95.40 ahead of data

DXY extends the decline to the 95.40 region on Thursday. US yields correct further lower from recent tops. Initial Claims, the Philly Fed Index are next in the US docket...

21 Jan 2022

EURUSD decided to wait
EURUSD decided to wait

EURUSD stopped growing; the statistics failed the "greenback". The major currency pair is rather neutral early in the week. The current quote for the instrument is 1.1426...

17 Jan 2022

The Euro skyrocketed to its 8-week highs
The Euro skyrocketed to its 8-week highs

EURUSD continued rising after the US reported on inflation. The major currency pair continues growing on Thursday. The current quote for the instrument is 1.1468...

14 Jan 2022

US Dollar Index appears supported near 95.50
US Dollar Index appears supported near 95.50

DXY looks depressed around the mid-95.00s midweek. US 10y yields remain capped by the 1.80% area. Inflation figures tracked by the CPI next of note in the docket...

12 Jan 2022

EUR/USD Keep Falling
EUR/USD Keep Falling

The major currency pair is falling after demonstrating some growth last week. The asset is mostly trading at 1.1330. Market players are still processing the FOMC Meeting...

11 Jan 2022

Hot inflation in eurozone could rescue the euro from strong NFP
Hot inflation in eurozone could rescue the euro from strong NFP

EUR/USD seems to have steadied around 1.1300 ahead of key data releases. According to FXStreet’s Eren Sengezer, the shared currency could find demand on a hot inflation report...

7 Jan 2022

XM information and reviews
FXCM information and reviews
AvaTrade information and reviews
LegacyFX information and reviews
FP Markets information and reviews
FP Markets
Pepperstone information and reviews

© 2006-2022 Forex-Ratings.com

The usage of this website constitutes acceptance of the following legal information.
Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website (reviews, brokers' news, comments, analysis, quotes, forecasts or other information materials provided by Forex Ratings, as well as information provided by the partners), including graphical information about the forex companies, brokers and dealing desks, is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Forex Ratings shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about the forex companies. The entire responsibility for the contents rests with the commentators. Reprint of the materials is available only with the permission of the editorial staff.
We use cookies to improve your experience and to make your stay with us more comfortable. By using Forex-Ratings.com website you agree to the cookies policy.