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EUR/USD: Wednesday witnessed additional USD selling materialise ahead of US trading, as Fed’s Brainard joined the dovish band and US ADP employment numbers reported less-than-stellar figures. Despite this, dollar bulls recovered amid hotter-than-expected ISM non-manufacturing data, lifting the index back above its 97.00 mark into the close. Note this action also formed a bullish engulfing … Continue reading Thursday 6th June: Greenback derives fresh impetus amid upbeat non-manufacturing data.

EUR/USD: In recent sessions, market participants witnessed the EUR/USD’s advance run into headwinds as Eurozone inflation cooled according to latest CPI data, boosting speculation the European Central Bank may deliver a dovish statement and press conference Thursday. The US dollar index, or DXY, entered a somewhat choppy state Tuesday after a slate of Fed speak, … Continue reading Wednesday 5th June: Dollar prints third consecutive daily loss; eyes 97.00.

EUR/USD: EUR/USD bulls firmly entered an offensive phase Monday, adding 0.64%. The euro garnered broad support as the US dollar index, or DXY, came under pressure. Disappointing US ISM manufacturing PMI data as well as Chicago Fed President Bullard unbolting the door for a rate cut collectively weighed on the buck. Longer-term technical flows remain … Continue reading Tuesday 4th June: Dollar targets 97.00 as Fed’s Bullard unbolts the door for a potential rate cut.

Longer-term flows remain positioned within the lower boundary of a long-standing demand zone at 1.1119-1.1295, despite a marginal breach two weeks ago.

EUR/USD: For traders who read Thursday’s morning brief you may recall the report underlined H4 resistance at 1.1142 (a Quasimodo support-turned resistance formation) as a potential area price may turn lower from (snippet taken from yesterday’s report): Short-term movement (H4), on the other hand, offers a possible shorting opportunity from resistance at 1.1142 (a Quasimodo … Continue reading Friday 31st May: US announced a 5% tariff on all goods coming from Mexico; intensifying volatility in early trade.