Weekly Analysis: For the entire last week the pair showed choppy movement, with sudden changes of direction. The week ended higher than it started but the downtrend is still intact.
Weekly FX Analysis
Weekly Analysis: During last week the pair reached the support at 1.0525, with the most active day being Wednesday when the FOMC Minutes hinted that a rate hike may come relatively soon. Support is still holding but control belongs to the bears.
For the entire last week the US Dollar dominated and the pair dropped below 1.0600. Since the U.S. Presidential Election result was known, the pair didn’t have any bullish days and the sellers remained in total control.
Weekly Analysis: Election week is over and United States has a new President. The US Dollar received the news well, strengthening against most of its counterparts and as a result we saw the pair drop through several support levels.
Weekly Analysis: The pair completed a bullish week and moved above the 50 days Exponential Moving Average. The Fed maintained the interest rate unchanged and the NFP report somewhat disappointed, contributing to the strong move up.
Weekly Analysis: The US Dollar weakened last week, with Friday being the most active day. The decline was generated by FBI’s decision to reopen Clinton’s email case; depending on new developments on that matter, we may see further greenback weakness.
Weekly Analysis: Last week belonged to the bears, with the last 2 days being the most active. Euro weakness was mainly generated by the ECB Meeting and Draghi’s press conference.
Weekly Analysis: Finally the pair started to pick up some speed last week and now the bears are in control. The US Dollar strength was partly due to the FOMC hinting towards a rate hike later this year and partly due to better than expected U.S. economic data.
Weekly Analysis: Surprisingly, last week’s events did not bring the pair out of its range. Support was breached but the bears didn’t follow through and a worse than expected NFP brought the pair back up, close to the opening price of the week.