On Wednesday, the US dollar weakened in anticipation of the US CPI data, which could influence market exposure. A Bloomberg survey predicts a year-on-year read of 5.0% to the end of April. Market sentiment is affected by the US debt ceiling and issues with regional banks. While the major APAC equity indices are...
EUR/NZD remains under pressure
2019-11-27 • Updated
SELL 1.7115; TP 1.7045; SL 1.7135
BUY 1.7155; TP 1.7210; SL 1.7140
EUR/NZD has reached the bearish targets we set last week. The outlook for the single currency still seems quite negative: the price is currently at the lowest levels since September. An “inside bar” was formed on the D1. If the pair slides below 1.7122 (Nov. 25 low), it will become vulnerable for a decline to 1.7045 (200-day MA). Notice that support in the 1.7025/1.6990 seems quite strong as on the W1 there are 100- and 50-week MAs in this area. If the attempt to test lower levels fails in the short term and EUR/NZD returns above 1.7145, the correction may take it up to 1.7210/50 (100-day MA).
The influence of the dollar as the world reserve currency is gradually falling. Is it possible that the euro will replace it? We are not so sure about that.
It's no longer news that Eurozone's headline inflation rate rose in April, exceeding the European Central Bank's target. Eurostat's preliminary data revealed that the headline inflation rate reached 7% last month, a 0.1% rise from 6.9% in March. In contrast, core inflation, which excludes food and energy prices, unexpectedly slowed to 5.6% in April. The latest figures come right after the ECB's policy decision on Thursday, 4th of May, with market players...
Let's dive into the world of gold. Currently, the price of gold, represented by XAUUSD, is stuck in indecision, hovering around the $1,975 mark. The market is anxiously awaiting two important factors: the release of the Federal Reserve's meeting minutes and the extension of the US debt ceiling.
Hey guys, this is the last full trading week in May, and many forward-looking individuals like myself are already preparing themselves to seize whatever opportunities June may have in store. On this note, I will review a few commodities that have satisfied my quest for swing-trading opportunities in the coming month. Follow me!
The Bank of England (BoE) has dramatically shifted its economic forecasts. They no longer expect a recession in the UK and have upgraded their growth projections. This year, the BoE predicts GDP growth of +0.25%, a significant improvement from previous expectations. Next year's forecast is even more optimistic, with a projected growth of 0.75%.