Weekly Analysis: Last week belonged to the US Dollar that showed signs of recovery and took the pair into 1.1700 area. Most of the move was technical as the economic scene was slow and without market moving events.
Weekly FX Analysis
Weekly Analysis: The US Dollar showed modest gains in the beginning of last week but the pair then climbed on the back of U.S. political turmoil. Overall price action was choppy and characterized by reversals on the lower time frames.
Weekly Analysis: Euro strength combined with US Dollar weakness across the board generated a bullish week and a break of key resistance. The pair has exited the consolidation phase but the long term uptrend has not yet resumed.
Weekly Analysis: Buying interest around the Euro increased last week and the pair moved above several types of resistance, finishing the week more than 100 pips higher than it started.
Weekly Analysis: In the second part of last week the pair showed some signs of directional movement but overall it is still in a range, bouncing between 1.1600 and 1.1700. The lack of major economic releases contributed to the slow movement.
Weekly Analysis: Despite key economic data being released last week, the pair remained in a relatively tight range, bouncing between 1.1600 support and 1.1700 resistance for the entire week.
Weekly Analysis: The European currency weakened after ECB President Draghi announced a QE taper on Thursday last week. From 2018 the monthly pace will run at 30 billion Euros, as opposed to the current 60 billion Euros.
Weekly Analysis: Last week the pair remained in a relatively tight range, moving above and below the 50 days Exponential Moving Average, which is flat thus confirming the lack of momentum.
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.