Although the greenback extended recent rise to as high as 1.0227, as price has retreated from there, suggesting minor consolidation would be seen and pullback to 1.0100 and possibly 1.0053 cannot be ruled out, however, renewed buying interest should emerge around 1.000 and bring another rise later. A break of Elliott Wave Daily Trades
It has been an extremely tough week for the EUR/USD. On Monday, one euro was worth 1.29 U.S. dollars and during the early European trading session, the value of one euro dropped to as low as 1.2641. The currency pair came within a whisker of its year to date low and if not for the [...]
Risk aversion dominated markets last week and wold stock markets turned negative for the year as MSCI world index erased all it’s gains this year. We’re talking about S&P 500 having the losing losing streak since last August. Major European indices fell last week with notable fall in FTSE by Action Insight (Market Overview)
Despite intra-day resumption of recent upmove to indicated projection target at 0.9500 (1.236 times projection of 0.8931-0.9335 measuring from 0.9002), as dollar has retreated from there, suggesting consolidation would be seen and retracement to minor support at 0.9421, then the lower Kumo (now at 0.9410) is likely but 0.9372-79 (previous Candlesticks Intraday Trades
This morning, all of the European markets are coming under selling pressure with the IBEX 35 (Spain) is declining lower by 3.50 percent. This fall in Europe is causing the US Dollar Index to strengthen. As many of you know by now, a stronger dollar usually results in a weaker and deflated stock market in [...]