Daily FX Analysis
Forex News: The pair remained relatively quiet for the most part of yesterday’s trading session and no special developments took place. The U.S. Consumer Confidence survey posted a value above expectations but the impact was low.
Forex News: The Euro pushed the pair above immediate resistance yesterday, although the German CPI came out slightly below expectations. However, the move was mostly technical and was anticipated due to the oversold condition of the pair.
Forex News: Friday’s trading session belonged to the bears and the pair continued on a downward path. The U.S. Advance GDP posted a value above expectations (actual 3.0%, forecast 2.6%) and this contributed to the drop.
Forex News: After coming very close to the resistance at 1.1840, the pair dropped more than 100 pips due to dovish comments made by ECB President Mario Draghi. The ECB maintained the interest rate unchanged, as expected.
Forex News: The bulls dominated yesterday’s session although the U.S. Durable Goods Orders showed a value above expectations. The pair climbed above immediate resistance and above the 50 period EMA.
Forex News: Eurozone’s Manufacturing PMI showed a value above expectation but the Services PMI disappointed so economic data was mixed yesterday and didn’t have a strong impact on the currency. Overall the pair remained in a range, with a slight bullish bias.
Forex News: The two currencies weren’t affected by economic releases yesterday but the pair descended below 1.1775 and touched the next support at 1.1735. The session was bearish but volatility was relatively dim.
Forex News: Friday’s price action was bearish due to increased demand for the US Dollar. The pair broke the 50 period Exponential Moving Average but stopped at 1.1775 support.
Forex News: Despite better than anticipated US data, the US Dollar remained in the negative territory and the pair climbed after a spike below the 50 period EMA and below 1.1775 support.