In spite of clocking session highs at 1.1008, the attempt to regain footing above the 2016 yearly opening level at 1.0873 was abruptly denied, consequently reclaiming a large portion of the week’s upside.
Dear Trader,Please find our Updated trading schedule for US Memorial Day Schedule on Monday, 25th May 2020 below. All times mentioned below are Platform time (GMT +3).
Key risk events today: UK Inflation; Canada Inflation; BoE Gov. Bailey Speaks; FOMC Meeting Minutes. (Previous analysis as well as outside sources – italics). EUR/USD: Europe’s shared currency extended Monday’s vigorous recovery against the US dollar on Tuesday, scoring highs at 1.0976. EUR/USD, as you can see, tested H4 Quasimodo resistance at 1.0972, missing a … Continue reading Wednesday 20th May: Technical Outlook and Review.
The euro kicked off the week strongly amid heightened risk appetite. EUR/USD rebounded from 1.08 following a slowing in Eurozone COVID-19 cases and reports France and Germany are now backing joint EU debt issuance.
EUR/USD retained a modest offer over the course of last week, testing and holding south of the 2016 yearly opening level at 1.0873. A bump lower this week could have multi-year lows enter at 1.0635, while firming may eventually witness the 2020 yearly opening level at 1.1222 make a play.
