Trading news

EUR/USD testing lows near 1.0650

The offered tone around the EUR/USD is seen gathering pace once again, knocking-off the rate back towards daily lows struck earlier at 1.0650 levels.

EUR/USD losing sight of 1.07 handle?

Currently, the spot peeks into red at 1.0652, deflating from session highs reached at 1.0668 during mid-Asia. The EUR/USD pair extends is bearish consolidation phase into early Europe, with the bears awaiting fresh impetus for the next push lower.

Over the last hour, the major witnesses fresh selling pressure as the greenback catches fresh bids versus most of the majors and resumes its Trump reflation trades-led bullish upmove. Meanwhile, the USD index trades +0.07% higher at 100.74, recovering ground from 100.60 levels.

EUR/USD also returns to the red zone after the Chinese trade data lifted overall market sentiment, thereby weighing on the funding currency euro. Looking ahead, the major will remain at the mercy of the USD dynamics amid a lack of fundamentals news from the Euroland.

EUR/USD Technical Levels

In terms of technicals, the pair finds the immediate resistance 1.0700 (zero figure). A break beyond the last, doors will open for a test of 1.0722/33 (20 & 10-DMA) and from there to 1.0780 (key resistance). On the flip side, the immediate support is placed at 1.0617 (Jan 30 low) below which 1.0595 (50-DMA) and 1.0570 (daily S3) could be tested.


USD/CAD off highs, back near 1.3140 ahead of data

After advancing to daily highs in the 1.3160 area, USD/CAD has now eased some pips and has returned to the 1.3140 region.

USD/CAD focus on data

The pair is now looking to stabilize in the 1.3140 area, where sits the key 200-day sma, keeping the firm tone for the second straight session and bouncing off yesterday’s lows in the 1.3095/90 band.

In the meantime, the greenback continues to consolidate the weekly upside, recently boosted by comments from President Donald Trump, who hinted that a (‘phenomenal’) tax reform could be announced in the near term.

Yields in the US money markets are also extending the rebound from weekly lows, collaborating with the USD strength via wider spread vs. its Canadian peers.

On the opposite direction, crude oil prices remain on the rise despite massive increases in crude supplies as reported by the API (Tuesday) and the EIA (Wednesday), although CAD’s correlation to prices lost momentum in recent weeks.

Data wise in the US docket, Export/Import Price index are due seconded by the flash Reuters/Michigan index fir the month of February. In Canada, January’s labour market figures will take centre stage.

USD/CAD significant levels

As of writing the pair is losing 0.02% at 1.3142 facing the next support at 1.3091 (low Feb.9) seconded by 1.3016 (low Jan.17) and then 1.2967 (low Jan.31). On the other hand, a surpass of 1.3215 (high Feb.7) would aim for 1.3261 (55-day sma) and finally 1.3311 (38.2% Fibo of the 2016 drop).

AG Markets Review

Friday, 10 Feb, 2017 / 3:16

Note: Company News is a promotional service of the Directory and the content isn't created by Finance Magnates.

Source :

Trading news


Robinhood Stock: What Should You Know?

Since August 2 a new stock is available for trading with the FBS broker under [...]

Posted on Tuesday, 03 Aug, 2021 / 10:31 under

Yield meltdown boosts yen, RBA holds the line

  Yen shines, stock markets erase gains as bond yields [...]

Posted on Tuesday, 03 Aug, 2021 / 9:11 under


Markets in Asia started the week on a strong note, despite China recording [...]

Posted on Tuesday, 03 Aug, 2021 / 9:06 under