Weekly Analysis: The pair climbed above the 50 days Exponential Moving Average last week, mostly due to concerns regarding inflation in the United States. However, the resistance at 1.1875 couldn’t be broken and now some rejection is present.
Weekly FX Analysis
Weekly Analysis: In the early part of last week’s trading session the US Dollar made substantial advances and reached the support at 1.1713. However, some of the greenback’s gains were erased and the pair climbed back into the 50 days Exponential Moving Average.
Weekly Analysis: The Euro continued to strengthen last week, fueled by a positive ECB outlook regarding economic expansion. The pair breached the previous high and created a new one at 1.2092 but retraced lower in the last day of the week.
Weekly Analysis: After breaking above 1.2000 for the first time since 2015, the bulls failed to continue upside momentum in the latter part of last week and now the pair is trading close to support, ending the week with small losses.
Weekly Analysis: Last week the pair reached the highest level since January 2015 on the back of a hawkish speech delivered by ECB President Mario Draghi at the Jackson Hole Symposium. Key resistance was broken and now the uptrend is resumed.
Weekly Analysis: Most of last week’s price action took place around 1.1700 support, which appeared broken several times but the pair returned above it almost immediately. The fundamental scene was pretty dull, and didn’t generate strong moves.
Weekly Analysis: Last week the pair descended into the area between 1.1713 – 1.1700 but worse than expected U.S. inflation data weakened the US Dollar later in the week, so the pair bounced at support, moving higher.