Daily FX Analysis
Fores News: The pair spiked higher Friday when the U.S. Consumer Price Index showed a value below expectations. However, most of the US Dollar losses were soon erased and the pair finished the week below resistance.
Forex News: After reaching the resistance at 1.1875, the pair bounced lower, due to the technical reasons outlined yesterday but also due to upbeat US Dollar sentiment triggered by positive economic data.
Forex News: The pair continued on a bullish path before the FOMC Meeting Minutes release, which revealed that some Fed officials fear that low inflation is not “only transitory”. The greenback weakened at the time of the release but volatility remained relatively normal.
Forex News: Yesterday the pair climbed above the 50 period Exponential Moving Average, extending the bullish move and printing a higher high. Overall price is still in a range but with a bullish bias.
Forex News: The pair remained in a relatively tight range yesterday and no special developments took place, mostly because the economic calendar lacked any important announcements.
Forex News: Friday, after an initial drop below 1.1700, the pair started to climb, mostly on US Dollar weakness triggered by the disappointing Non-Farm Payrolls report. Overall price action was choppy and volatility remained low until the NFP release.
Forex News: Yesterday the pair failed to break the resistance at 1.1775 and bounced lower as a consequence, reaching the target at 1.1713. The U.S. economic data released during the day was positive, thus aiding the drop.
Forex News: The pair had a slower day than expected, mostly because the U.S. employment numbers came very close to analysts’ forecast. Price remained close to 1.1775 resistance, without a clear bias.
Forex News: Yesterday the pair bounced higher after an initial break of 1.1713 support. Most of the session was bullish but this behaviour was somewhat expected.