There is no denying that Europe’s shared currency (EUR) is having a strong year against the US dollar (USD) so far, with the EUR/USD pair rising by almost 10%.
Monthly support in play
In one fell swoop, April’s price action made short work of the 50-month simple moving average (SMA) at US$1.0904 and the monthly resistance at US$1.1134. This prompted the unit...
Following the EUR/USD (euro versus the US dollar) trading within striking distance of a head and shoulders top pattern’s profit objective at US$1.1049, bulls went on the offensive. Consequently, price has pencilled in an AB=CD bearish formation at US$1.1332, according to the 100% projection ratio and a 1.618% Fibonacci extension ratio of US$1.1353 (B-C...
April retail sales data is scheduled to be released at 12:30 pm GMT tomorrow and will be a closely watched report as investors seek signs of any impact derived from tariffs, as well as potential future rate cuts by the US Federal Reserve (Fed).
According to LSEG Data and Analytics, economists expect retail sales to have stagnated, following a 1.5% gain in March –...
Following the agreement between the United States (US) and China to temporarily reduce tariffs, there has been a notable unwinding of safe-haven assets and an increase in demand across risk. Recent developments show the US is preparing to lower levies from 145% to 30%, while China is set to decrease tariffs from 125% to 10%.
Safe-haven assets weighed
Along...
Monthly bullish outside candle
Versus the US dollar (USD), Bitcoin (BTC) is poised to snap a two-month decline and pencil in a bullish outside candle on the monthly chart (textbook engulfing candles focus on the candle’s real bodies rather than upper/lower wicks). Additionally, it is important to observe that the Relative Strength Index (RSI) failed to break the...
Following a low of 4,835 on 7 April – which touched gloves with an ‘alternate’ AB=CD support (1.272% Fibonacci projection ratio) at 4,983 – the S&P 500 index is on course to pencil in an ‘equal’ AB=CD resistance (100% projection ratio) at 5,746. Notably, the 5,746 level is accommodated by a 1.618% Fibonacci projection ratio at 5,718, as well as a nearby 61.8%...
