Weekly Analysis: Last week the pair reached the highest level since January 2015 on the back of a hawkish speech delivered by ECB President Mario Draghi at the Jackson Hole Symposium. Key resistance was broken and now the uptrend is resumed.
Weekly FX Analysis
Weekly Analysis: Most of last week’s price action took place around 1.1700 support, which appeared broken several times but the pair returned above it almost immediately. The fundamental scene was pretty dull, and didn’t generate strong moves.
Weekly Analysis: Last week the pair descended into the area between 1.1713 – 1.1700 but worse than expected U.S. inflation data weakened the US Dollar later in the week, so the pair bounced at support, moving higher.
Weekly Analysis: Last week started in close vicinity of 1.1700 and the pair pushed higher, above 1.1875 but almost the entire climb was nullified Friday after the U.S jobs data came out better than anticipated and strengthened the greenback.
The pair posted a strongly bullish week and moved above last year’s high located at 1.1616 on the back of a hawkish Draghi press conference but also due to US Dollar heavy selling.
Weekly Analysis: The bulls remained in control and the pair closed last week strongly, on the back of a US Dollar sell-off triggered by weak inflation and retail sales data. However, Friday’s climb couldn’t take out the weekly top at 1.1490.
Weekly Analysis: Last week the pair retraced lower, mostly due to overbought condition but after failing to break support, it returned to the levels seen in the beginning of the week. U.S. employment data was solid and brought the pair lower for the end of the week.
Weekly Analysis: The Euro experienced a huge boost coming from Draghi’s hawkish comments made at the European Central Bank Forum, so the pair moved higher for the entire last week, breaking several resistance levels.
Weekly Analysis: Last week the bears attempted to break support but the US Dollar strength faded and the pair started to move north, erasing almost all the losses incurred earlier in the week. Overall we had a neutral week, with price finishing close to where it started.