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The main release this week was US inflation, which surprised slightly to the upside with core inflation coming in at 3.9% y/y (consensus 3.8% y/y) as service inflation is still proving sticky. It contrasts with the signals in the euro area where we have seen a clearer decline in core inflation, see Global Inflation Watch […]

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02/04/2024

EUR/USD outlook: Bears Eye 2024 low

The Euro fell to new multi-week low early Tuesday, weighed by firm dollar and recent dovish comments from ECB policymakers, who see four rate cuts in 2024. Monday’s 0.4% drop and close below 1.0762 (Fibo 76.4% of 1.0695/1.0981 upleg), adds to bearish near-term outlook and unmasks key support at 1.0695 (2024 low, posted on Feb […]
05/01/2024

GBPJPY Bullish Near the Top of a Short-term Range

GBPJPY meets former resistance after quick bounce Technical signals endorse a bullish breakout GBPJPY pivoted swiftly near its 200-day simple moving average (SMA) and recovered a three-week-old soft downturn but despite that, it’s still struggling to exit the short-term range above the tough 50-day SMA at 183.90. The technical indicators are feeding optimism that buying […]
04/03/2024

EUR/USD Aims Higher, Bitcoin Could Extend Gains

Key Highlights EUR/USD is aiming for a move toward the 1.0920 resistance. A bullish flag seems to be forming with resistance at 1.0845 on the 4-hour chart. Bitcoin is showing positive signs and might extend gains above $63,000. Gold prices surged above the $2,050 resistance zone. EUR/USD Technical Analysis The Euro started a recovery wave […]