2020-10-19 • Updated
The euro has started the week on a positive footing, surging to the key resistance of 1.1800.
EUR/USD has approached the 50-day moving average of 1.1180. The move above this level will drive the price towards October’s high of 1.1830. The RSI indicator signals the further rising as it has just crossed the midpoint. If it manages to break out 1.1830 as well, the way to the peak of mid-September at 1.1860 will be clear. Support levels are 1.1700 and 1.1650.
All eyes on speeches of Fed’s Powell and ECB President Lagarde at 15.00 and 15:45 MT time! If one of the central banks is pessimistic, points to bumpy recovery, and hints for further easing or lowering rates, it will drive its currency down. Otherwise - the optimistic comments and no clues for more easing will drive the currency up.
Crude oil futures surged on Monday due to disruptions in Russian refining capacity caused by Ukrainian drone strikes and Moscow's decision to cut output to comply with OPEC+ targets. The West Texas Intermediate (WTI) contract for May settled at $81.95 a barrel, up $1.32, while the Brent contract for May settled at $86.57 a barrel, also up $1.32. Russia instructed...
Bearish scenario: Sales below 80.00 with TP1: 79.60... Anticipated bullish scenario: Intraday purchases above 80.70 with TP: 81.50...
Brent oil is currently on a bullish trend, facing resistance near $84 and supported by the 200-day EMA. Breaking above this level could lead to a climb towards $90. Short-term support is observed around $80, backed by the 50-day EMA. As summer approaches and travel increases, crude oil tends to benefit from seasonal patterns. Despite temporary setbacks, buying...
Jerome H. Powell, the Federal Reserve chair, stated that the central bank can afford to be patient in deciding when to cut interest rates, citing easing inflation and stable economic growth. Powell emphasized the Fed's independence from political influences, particularly relevant as the election season nears. The Fed had raised interest rates to 5.3 ...
Hello again my friends, it’s time for another episode of “What to Trade,” this time, for the month of April. As usual, I present to you some of my most anticipated trade ideas for the month of April, according to my technical analysis style. I therefore encourage you to do your due diligence, as always, and manage your risks appropriately.
Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...
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Don’t waste your time – keep track of how NFP affects the US dollar and profit!
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