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DXY: The DXY (US Dollar Index) chart currently shows a bearish overall momentum, indicating a downward trend in the US dollar. Price could potentially continue this bearish movement towards the 1st support level. The 1st support at 102.46 is categorized as a swing low support, and it has historical significance as a level where buying […]

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18/12/2023

EUR/USD: Regains Traction But Recovery Faces Strong Headwinds

EURUSD found a footstep and firmed on Monday after 0.9% drop last Friday, following a double failure at psychological 1.10 barrier. However, recovery is unlikely to extend much as near-term action is weighed by much weaker-than-expected German Ifo data and rising bearish momentum on daily chart. Also, long upper shadow on last week’s candlestick and […]
05/09/2024

USD/JPY: Falls to One Month Low as Sentiment Sours Further Ahead

USDJPY continues to trend lower and hit new one-month low on Thursday, pressured by expectations of Fed rate cut, diverging policies of Fed and BoJ (US central bank is heading towards its first rate cut, while BoJ started its tightening cycle and with hawkish signals from top officials). In addition, weak US labor data (today’s […]
18/12/2023

Euro Stabilizes Despite Weak German Business Confidence

German business confidence weaker than expected The euro has started the week in positive territory on Monday. In the European session, EUR/USD is trading at 1.0914, up 0.18%. It was a week of sharp swings for the euro, which posted strong gains during the week but reversed directions on Friday and declined 0.88%. Still, the […]