Global equities traded lower yesterday
Ichimoku Kinko Hyo AUD/JPY: The AUD/JPY pair is now trading on the Kijun sen level…
EUR: another winner in the field
Information is not investment advice
Key indicators
Performance in 2020: -0.6%
Last day range: 1.1037 – 1.1184
52-week range: 1.0780-1.1515
Euro's winning spree
The euro has been in decline against the US dollar since the very beginning of 2018. That means, for more than two years. Now, this long-term trend is put to a test. Who would know that it would be Coronavirus that led to such an outcome?
Checkpoints
So the euro has retaken all its losses to the USD that we have seen since the beginning of February. In fact, it is now one step away to recover all it gave to the US dollar during this year. If it comes to test the resistance of 1.1250, which is the December high and a 6-months high, that will be a sound tactical victory.
Strategically, reaching up to 1.1250 would mean defying the long-term downward trend (market as a blue straight line). That resistance level is less than in 100 pips from the current 1.1145, and EUR/USD made stronger leaps in the recent days. So even if the target may not be an easy one, it is completely realistic for a day’s trade.
Geopolitically, the question about the EUR/USD and its further advancements gets increasingly intriguing as the trade between the US and Europe doesn’t seem to be moving along the most pacifying note on behalf of each side, and Brexit is another catalyst to that “friendly” trade process. Let’s watch what the ECB president Christine Lagarde says next week, and what the US Fed brings to the table the week after.
Technical levels
Resistance 1.1250
Support 1.1000
Similar
EUR/USD trades just north of 1.17
Ichimoku Kinko Hyo USD/JPY: The USD/JPY pair is now testing the upper level of the Kumo…
How Will Tapering Affect FAANG Stocks?
Investors in popular FAANG stocks have enjoyed a great run over the last year as a combination of super-low interest rates from the Federal Reserve and high growth from the individual tech companies has made an easy bull case…
Popular
Gold Is Pressed By Strong USD
XAU/USD looks weak. Will it keep falling? Let's find out!
Global equities traded lower yesterday
Ichimoku Kinko Hyo AUD/JPY: The AUD/JPY pair is now trading on the Kijun sen level…
Gas and Oil Are at Record Highs
A combo of strong demand and poor supply has sent oil prices to the high unseen since 2018. Gas is at record highs as well.
Choose your payment system
