|Day's Range||0.814 - 0.818|
|52 Week Range||0.7963 - 0.9241|
Investing.com - The dollar was holding steady near two week highs against a currency basket on Monday supported by expectations for further interest rate hikes this year, while waning geopolitical risk dampened demand for the safe haven yen.
Investing.com - Investors will be awaiting an update on the health of the U.S. and UK economies this week ahead of Friday’s data on first quarter growth. Monetary policy meetings in the euro zone and Japan will also be in focus.
The EUR/USD pair initially rally during the week, testing the 1.24 level before rolling over rather significantly. The market remains in consolidation, so even though this is a negative candle, I don’t put too much into what we are seeing. In fact, I think that it is difficult for longer-term traders to be involved currently.
The Euro rallied significantly during the week, using the 0.8650 level as support. I believe that these markets have a significant amount of resistance at the 0.88 handle, so I think that although we’ve seen some strength, when I look at this chart I see a gradual drift lower.
The EUR/USD pair has fallen rather significantly during the trading session on Friday as the United States interest rates continue to rise. I believe that breaking below the 1.23 level is a significant turn of events, and that we should continue to see downward pressures in the short term. However, I see a significant amount of support underneath.
The EUR/GBP pair has been very choppy during the trading session on Friday as we are a bit confused. It’s not a huge surprise, as the market has seen a lot of headline risk coming out of both the European Union and the United Kingdom. However, this past week we have seen headline risk coming in a new form, the idea of the Bank of England being a bit more dovish than anticipated.
The dollar gained traction as 10-year treasury yields moved above 2.92%, driving up the value of the dollar and weighing on the currency pair. German wholesale inflation accelerated higher but the dip in the Zew sparked concerns of a decline in German growth. Momentum has turned negative as the MACD (moving average convergence divergence) index generated a crossover sell signal. This occurs as the MACD line (the 12-day moving average minus the 26-day moving average) crosses below the MACD signal line (the 9-day moving average of the MACD line).
Investing.com - The dollar surged on Friday, driven higher by a rising yield on U.S. Treasury notes.The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was at a two-week high, rising 0.59% to 90.17 by 10:32 AM ET (14:32 GMT)U.S. bond yields crept back up on Friday, with the United States 2-Year note climbing to its highest level since September 2008, at 2.449. The yield on the United States 10-Year Treasury note rose to 2.940.Prices fall as bond yields rise. A spike in U.S. ...
Based on the current price action, the direction of the EUR/USD the rest of the session is likely to be determined by trader reaction to the short-term Fibonacci level at 1.2290.
Investing.com - The dollar was higher on Friday as the yield on U.S. Treasury notes rose to February levels and interest rate expectations offset trade war worries.The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up 0.27% to 89.88 by 5:13 AM ET (9:13 GMT).U.S. bond yields crept back up on Friday, with the United States 2-Year note climbing to its highest level since September 2008, at 2.437. The yield on the United States 10-Year Treasury note rose to 2.916.Prices fall as bond yields rise. A spike in U.S. ...
The Euro chopped around the 1.2350 level during the Thursday’s session using it as a support. The uptrend line underneath should continue to keep this market in the positive momentum and also attract a lot of buyers. It is believed that until this market breaks above the 1.25 level, it will continue to consolidate around the region.
The current price action indicates that the relatively optimistic view about the U.S. economy should be enough to support the Fed’s notion to raise interest rates at least two more time in 2018. Some traders are even pricing in as many as three rate hikes.
The EUR/USD pair continues to bounce around just above the 1.2350 level. There’s also an uptrend line underneath that should continue to keep this market positive, so I like the idea of picking up short-term pullbacks.
The EUR/GBP pair has broken down during the day on Thursday, breaking below the 0.87 handle. That is an area that has been support in the past, and now is acting as resistance. I believe that this pair will continue to be very noisy, based upon the negotiations between the United Kingdom and the European Union.
Investing.com – The dollar remained close to highs against a basket of major currencies as surging bond yields offset earlier weakness in the greenback.
The EUR/USD slipped lower sliding down to support near the 10-day moving average at 1.2345. The currency pair continue to chop around directionless. U.S. yields backed up today, despite a weaker than expected jobless claims report and soft Philly Fed Manufacturing. The EUR/USD is range bound and has been trading sideways for most of 2018. The exchange rate bounced from support and is sandwiched between resistance at a downward sloping trend line at 1.2415. Support level the 10-day moving average is seen near an upward sloping trend line that comes in near 1.2234. The fast stochastic generated a crossover sell signal in overbought territory which reflects accelerating negative momentum.
The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up 0.02% to 89.37 by 10:56 AM ET (14:56 GMT). The dollar was unmoved from mixed economic data. A separate report showed that the Philadelphia Fed's manufacturing index unexpectedly rose in April, to a reading of 23.2 from 22.3 in March.
The dollar was higher on Thursday, while sterling fell after lower than expected retail sales. The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up 0.12% to 89.46 by 5:34 AM ET (9:34 GMT). Rising geopolitical and trade tensions have weighed on the dollar in recent months.
The EUR/GBP has broken through the descending trendline and we can see a potential for bullish continuation. Another cue is the U-shaped bottom that has been formed exactly at W L3 support. 0.8688-98 is the POC zone for potential bounces. Targets are 0.8739 and 0.8770. Only if 0.8770 breaks we might see Monthly (M) Pivots as next targets. Have in mind that EUR/GBP is both EUR and GBP news dependent, so any important news could spike the price in both directions, but generally the intraday trend is up.
Based on the early trade, the direction of the EUR/USD the rest of the day is likely to be determined by trader reaction to the main 50% level at 1.2354.
Yahoo Finance's Jared Blikre joins Seana Smith from the floor of the New York Stock Exchange to discuss a Goldman Sachs analyst note, which notes negative seasonality for equities in midterm election years heading into the election.
The market still expects the Bank of England to hike rates even as recent data pointed weaker, says Kathy Lien of BK Asset Management.