
Yields creep up ahead of Powell; stocks slip, dollar firms
Fragile risk sentiment as yields rise again, sending shares on [...]
EURUSD, Daily
EURUSD sold off in the wake of mixed U.S. data that highlighted a 40 year low in U.S. jobless claims, slightly better core CPI reading, and a small improvement in the Empire State index. The EURUSD market sell off yesterday was a standard knee jerk reaction to the headline positive jobless claims, which saw renewed interest in buying the USD. Technically, the sell off was expected, as momentum indicators have been signaling that buying interest in the EURUSD has been slowing with the stochastic oscillator reading as overextended. Price now sits around the 1.1370′s, and I expect this area to hold, unless today’s U.S. release of the UoM Consumer Sentiment comes in above expectations. The 1.1370′s also happens to be the 38.2% Fibo from the July low (1.0808) – August High (1.1713), so I would expect price support around current levels. My conclusion for the short term trader is to add long positions above 1.1370 for targets between the 1.1460′s and 1.1560′s.
Friday, 16 Oct, 2015 / 8:39
Source : http://analysis.hotforex.com/blog/2015/10/16/eurusd-update/
Yields creep up ahead of Powell; stocks slip, dollar firms
Fragile risk sentiment as yields rise again, sending shares on [...]
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