Weekly Analysis: The pair had a pretty indecisive run last week, climbing into resistance and then erasing all gains, dropping to the levels seen in the beginning of the week.
Weekly FX Analysis
Weekly Analysis: Last week belonged to the bears again as we witnessed the end of the bullish retracement followed by a move below support. The previous low was not broken and the U.S. NFP triggered irregular movement although the value was better than anticipated.
Weekly Analysis: Last week the pair erased some of the losses generated by the Brexit referendum and headed higher, into resistance. Part of this climb was generated by speculation that the Fed will not raise rates in the near future.
Weekly Analysis: Last week Britain has decided to leave the European Union and the impact on the market was tremendous. The Euro tumbled for more than 500 pips but the effects of the Brexit are still in play so we may see further declines.
Weekly Analysis: Although the pair showed big swings during the week, it ended the period almost where it started it, showing rejection at the bullish trend line. The Fed kept rates unchanged as expected but mentioned that 2 hikes may come until the end of the year.
Weekly Analysis: The US Dollar made a spectacular comeback during the last 2 days of last week, bounced at resistance and erased most of the losses incurred a week before. Short term momentum favors the bears as the pair moved below the 50 period EMA.
Weekly Analysis: The first four days of last week were slow and without major developments but all that changed once the NFP numbers came out, showing a disappointing employment situation in the United States and weakening the US Dollar.
Weekly Analysis: The greenback won the battle against the Euro last week, breaking support and the bullish trend line seen on the chart below. The economic calendar didn’t reveal major events but optimism about a June rate hike kicked in, helping the US Dollar.
Weekly Analysis: The most important day of last week was Wednesday when the FOMC Minutes came out, showing optimism about a potential rate hike in June. This strengthened the US Dollar, driving the pair below support and generating an overall bearish week.
Weekly Analysis: The first days of last week were slow and choppy but action picked up later in the week when the bears managed to break support on the back of better than expected U.S. economic data. The uptrend is still intact but is severely weakened.