Chinese yuan stabilizes
The stabilization seen on the Chinese yuan overnight should make for a more comfortable end to the week. The fix on USDCNY was marginally lower which allowed for a stabilization of the onshore rate and fall in the offshore rate. This also follows on from the comments seen from the PBOC yesterday, playing down the [&hellip
Global markets settle down after Chinese devaluations
Chinese monetary authorities have expressed some calm today after two surprise devaluations this week to their currency. Global markets have been a sea of red for much of this week after the People’s Bank of China took the surprising action of devaluing the yuan by as much as 4% in less than 48 hours. Today, [&hellip
EUR/USD: Trading the Preliminary German GDP
Gross Domestic Product (GDP) indicator is a measurement of the production and growth of the economy. Analysts consider GDP one the most important indicators of economic activity. A reading which is better than the market forecast is bullish for the euro. Here are all the details, and 5 possible outcomes for EUR/USD. Published on Friday at [&hellip
Markets are set to commence the day on a softer footing after Wall Street rallied strongly off its lows with investors believing that the recent moves by the PBOC to devalue the renminbi have put a nail in the coffin for a September rate hike from the Fed. This move has formed a clear “hammer” [&hellip
Forex Technical Analysis For: EUR/USD
Forex Technical Analysis For: EUR/USD Euro EUR/USD With EUR maintaining its corrective Bullish mode, it should move to the resistance at 1.1133 in here. Support lies at 1.1000, where a break points to 1.0950, and a break of here will point to 1.0900 then to 1.0850. Resistance is seen at 1.1100, a break there open […]
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Forex Technical Analysis For:EUR, GBP, JPY & CHF
EUR/USD The EUR/USD was indecisive last week. Price attempted to push lower but closed higher at 1.0959 Friday. The bias is Neutral in near term. Immediate support seen at 1.0925. A clear break below that mark could trigger more Bearish pressure testing to 1.0880. Immediate resistance is seen at 1.1000. A clear break above that […]
The post Forex Technical Analysis For:EUR, GBP, JPY & CHF appeared first on Live Trading News.
EUR/USD Forecast August 10-14
EUR/USD traded somewhat lower but never went too far. GDP releases are the main events for the upcoming week. Here is an outlook for the highlights of this week and an updated technical analysis for EUR/USD. Euro-zone data was more or less in line with expectations. Retail sales disappointed but German factory orders beat expectations. Greek negotiations are [&hellip