The ECB and President Draghi went fully dovish sending the euro down. There are five significant moves that will continue reverberating. It is time to look at the next significant downside levels as EUR/USD falls out of balance. Here are the factors, followed by the levels: 1) Forward guidance: The ECB moved its pledge regarding low … “EUR/USD levels to watch after Draghi’s 5 downers”
Category: Opinions
EUR/USD: Staying Short; ECB To Retain A Decisively Dovish Tone- Barclays
The European Central Bank is unlikely to change its policy but its tone will make a difference. What does this mean for EUR/USD? Here is their view, courtesy of eFXdata: Barclays Research discusses its expectations for the EUR around the ECB March policy meeting on Thursday. Barclays maintains a tactical bearish EUR/USD bias, expressing that via holding … “EUR/USD: Staying Short; ECB To Retain A Decisively Dovish Tone- Barclays”
Elliott wave Analysis: 10 Year US Notes, GBPJPY and USDJPY Intra-day Update
10Y US notes just started to break out of a triangle as expected and seem like risk-off mode is finally in play. GBP is currently very strong, but GBPJPY just hit some nice resistance line within five waves. So, despite strong GBP, GBPJPY still may face a pullback, while we are in risk-off mode. That … “Elliott wave Analysis: 10 Year US Notes, GBPJPY and USDJPY Intra-day Update”
AUD/USD may fall down under amid the RBA, GDP
AUD/USD extended its slide amid strong US data, mixed Chinese data, and ongoing trade talks. A busy week awaits traders with the rate decision and Australian GDP standing out. The technical picture is slightly bearish for the pair while experts are bearish only in the short term and bullish later on. This was the week: … “AUD/USD may fall down under amid the RBA, GDP”
EUR/USD awaits the ECB and NFP duo
EUR/USD broke above the range thanks to Powell’s dovishness and Brexit hopes. The ECB decision and the NFP stand out in a busy week. The technical picture looks bullish for the pair and experts are bullish in the medium and long terms. This was the week: Powell’s patience and Brexit hopes Fed Chair Fed testified on Capitol Hill … “EUR/USD awaits the ECB and NFP duo”
USD/JPY rally halted and everything depends on the NFP now
USD/JPY rose on upbeat US data and a bit of optimism. The Non-Farm Payrolls report and trade talks are in the limelight. The technical picture is bullish for the pair while experts are only bullish in the short term and see falls afterward. This was the week: Upbeat US GDP, Asian tensions, steady Fed, and … “USD/JPY rally halted and everything depends on the NFP now”
3 ways Powell’s testimony could go for currencies
Fed Chair Jerome Powell will testify in Capitol Hill after pledging patience on rates. His message can go three ways for sentiment. Here are the three main scenarios and potential market reactions. 1) Not rocking the boat The Fed is now “patient” on interest rates, but we are not sure if they still intend to … “3 ways Powell’s testimony could go for currencies”
Impact of the trade war on the financial markets
The trade war and U.S. politics offer multiple trading opportunities, but there are 3 or 4 instruments that will directly concern investors who trade. The most directly affected instrument is probably stocks. Stocks tend to move down upon news that trade tariffs are to be introduced or that talks are not going well. Trade tariffs … “Impact of the trade war on the financial markets”
USD/JPY ready to break out of range, waiting for Powell and US GDP
USD/JPY traded in a range in a week dominated by US Dollar weakness. Fed Chair Powell’s testimony and the long-awaited US GDP report stand out. The technical picture is mixed for the pair. This was the week: Trade progress, Fed dovishness USD/JPY traded in range amid a mix of events that kept things balanced. Trade: Talks between … “USD/JPY ready to break out of range, waiting for Powell and US GDP”
CAD rising oil and USD weakness, but now faces two big tests
USD/CAD dropped as the greenback retreated on a dovish Fed, Canadian inflation and GDP numbers stand out. The technical picture is mixed for the pair. This was the week: Weaker USD, higher oil prices The US dollar was on the back foot for three reasons: 1) The FOMC Meeting Minutes confirmed the dovish twist by the Fed, … “CAD rising oil and USD weakness, but now faces two big tests”