Dollar Retreats Ahead Of Inauguration
The dollar index slid 0.25% lower yesterday as the 45th President exited the [...]
Trading news
EURJPY broke below sideways chop range
EURJPY broke below sideways chop last night when it was announced that OIL production cut back negotiations failed. There was a gap on JPY pairs and today early correction has closed most of gaps. JPY and OIL correlation links back to Risk-off sentiment, as Oil price drops, some sectors of Equities drop. So If Oil is dropping, inflation expectations would drop, which is not necessarily a good thing for Equities. In that environment risk-off prevails, and JPY gets stronger.
Technically EURJPY broke below sideways chop range (red rectangle) and if risk off sentiment prevails EURJPY could reject from POC (50.0, Doji, previous breakout point L3 ) within 122.55-70 else any breakout of 122.90 towards 123.05 zone might put the pair back into the sideways chop range. If we see a rejection 122.14 and 121.72 are targets for another bearish support retest.
Monday, 18 Apr, 2016 / 10:56
Source : http://www.admiralmarkets.com/analytics/technical-analysis/
Trading news
Stocks climb, dollar slips as Yellen makes case for more stimulus
Stocks power higher after Yellen calls for more big spending to [...]
Janet Yellen’s Speech Revitalized Risk Appetite – EUR/USD Market Outlook – 20/01/2021
The Euro rises above 1.2130 as expected, after risk-on sentiment weighed on [...]
