|Day's Range||0.879 - 0.879|
|52 Week Range||0.7963 - 0.8910|
Investing.com - The U.S. dollar was pushed back by a surge in the pound as traders bet UK Prime Minister Theresa May will survive a vote of no confidence.
The British pound is one of the strongest major developed market currencies on Monday, advancing as U.K. Prime Minister Theresa May faces a vote of no-confidence.
Investing.com - The U.S. dollar was lower on Wednesday, as inflation data underlined expectations that the Federal Reserve will slow its pace of rate hikes in 2019.The Labor Department said its consumer price index was unchanged from a month earlier, slowing from the 0.3% increase seen in October. Analysts had forecast a 0.1% increase.The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, fell 0.3% to 97.09 as of 10:11 AM ET (15:11 GMT). ...
The Euro rallied a bit during the trading session on Wednesday, reaching towards the 1.1350 level. This is a market that looks like it’s trying to form a bit of a symmetrical triangle, so that is worth paying attention to.
Although USDJPY’s U-turn from 100-day SMA & support-line of short-term symmetrical triangle helped it cross 50-day SMA, the triangle-resistance, at 114.00, could challenge the pair’s strength. Given the buyers’ ability to surpass 114.00 barrier on a daily closing basis, the 114.55 and the 115.00 might entertain them before pleasing with 61.8% FE level of 115.30. On the contrary, 50-day SMA level of 113.00 and the 112.55 can offer immediate supports to the pair ahead of highlighting 112.35-30 support-confluence for one more time. If at all prices slid beneath 112. ...
Investing.com - The British pound edged higher on Wednesday, following news that Prime Minister Theresa May will face a vote of no-confidence from members of her own Conservative party later in the session.
The Euro tried rallying higher during the Tuesday’s session but failed to break above. The weakness in the market is due to the issues surrounding the European Union which will continue to attract sellers. In the hourly chart, the market has formed a symmetrical triangle, and if it breaks below the bottom of the uptrend line, then it can move much lower probably towards the 1.11 level.
Risk assets rallied in Asia and may remain better bid in Europe on hopes of easing US-China trade tensions.
It’s all eyes on the Pound as talks of a vote of no confidence hit the wires ahead of a make or break emergency EU gathering tomorrow.
Investing.com - The dollar rose against its rivals Tuesday on higher-than-expected U.S. wholesale inflation and a slump in the pound amid growing uncertainty over UK Prime Minster Theresa May's future.
Investing.com - The U.S. dollar inched higher on Tuesday, as a leading indicator of inflation rose, increasing pressure on the Federal Reserve to raise rates.The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, rose 0.13% to 97.31 as of 10:29 AM ET (15:29 GMT).The core producer price index increased more than expected in November. The Federal Reserve keeps its eye on this data because, when producers pay more for goods, they are more likely to pass price increases on to the consumer. ...
The Euro rallied a bit during the trading session on Tuesday but gave back all of the gains as we ended up forming a very negative looking candle stick. It looks as if we are trying to break down, but if you squint, you can see a symmetrical triangle.
The British pound touched a fresh 20-month low on Tuesday amid continuous Brexit struggles that saw U.K. Prime Minister Theresa May jetting across the European continent in an effort to get reassurances on the Northern Ireland border issue as she attempts to shore up support at home for her Brexit plan. Meanwhile back in the U.K., there were conflicting reports about whether enough Conservative members of parliament had sent in letters that would trigger a leadership challenge to May. The Prime Minister pulled the vote on her Brexit deal on Tuesday, apparently under the assumption that she would lose it anyway. But as a vote of no-confidence has seemed close before, investors might practice caution, explaining the relatively muted slide in sterling that nevertheless hit its lowest level since April 2017. The pound last bought $1.2537, down 0.3%, but up from its session low of $1.2493. The euro spiked to £0.9064, but since came down to an unchanged level of £0.9028.
Asian markets closed mixed on Tuesday following Monday’s wild ride in US equities. Indices in the EU were up an average 1.75% in early Tuesday. The trade news from China helped lift US indices in early Tuesday trading.
Considering a month long symmetrical triangle formation on EURUSD chart, the pair is less likely to register much momentum till it trades within the present range of 1.1305 and the 1.1435. Though, comparative strength of the US Dollar favor brighter chances of the pair’s decline than the otherwise, which in-turn highlights the importance of 1.1260 and the 1.1215 supports after 1.1305 break. In case prices continue drowning past-1.1215, the 1.1110 & 1.1080 may become Bears’ favorites. Meanwhile, an upside break of 1.1435 can trigger the pair’s rise to 1. ...
Based on the earlier price action and the current price at 1.1390, the direction of the EUR/USD the rest of the session is likely to be determined by trader reaction to the Fibonacci level at 1.1395.
Investing.com - The U.S. dollar slid lower against a currency basket on Tuesday while the pound found some support after a steep selloff in the previous session in the wake of a shock decision by British Prime Minister Theresa May to delay a key vote on Brexit.
Following Theresa May’s decision to delay the parliamentary vote scheduled for later today, Brexit and U.S – China trade chatter will be in focus.
The Euro continues to witness a lot of selling pressure above the 1.14 level and on Monday’s session, it pulled back significantly after reaching the 1.1450 level above. The GBP has broken the major support level at 1.27 level in the yesterday’s session, reaching down towards the 1.25 level. The AUD hovered just above its important support level at 0.72 level in the yesterday’s session as a lot of headlines crossing the market suggesting US and China struggle on inking any trade pacts.
EUR/USD is trapped in a symmetrical triangle as brexit woes and French protests hurt Euro’s upward price momentum.
Investing.com - The dollar rose against its rivals Tuesday, helped by a plunge in the pound to 21-month lows after UK Prime Minister Theresa May called off a vote on a Brexit deal expected Tuesday, raising further uncertainty about the country's exit from the European Union.
Currency markets were shaken by more Brexit drama on Monday, as Tuesday’s highly anticipated vote on Prime Minister Theresa May’s Brexit deal is now reportedly shelved.