Forex News: Friday’s session belonged almost exclusively to the bears and after finding resistance near 1.0680, the pair dropped to touch the support at 1.0610. The 50 EMA was also broken decisively so we might be looking at a short term downtrend.
Daily FX Analysis
Forex News: Despite better than expected data for the U.S. economy, the greenback had a rough day yesterday and the pair climbed for the entire session, breaking the 50 period Exponential Moving Average.
Forex News: Both the U.S. CPI and Retail Sales posted a better than expected value and this strengthened the greenback yesterday, bringing the pair right into support. Fed Chair Yellen’s dovish testimony erased almost all the gains later in the day.
Forex News: The German GDP showed a lower number than analysts had forecast and this weakened the Euro early in yesterday’s session. Hawkish comments made by Fed Chair Yellen later strengthened the US Dollar, and all this generated a bearish session.
Forex News: Yesterday the economic calendar was light, without any market-affecting releases but the US Dollar had a great day against its counterparts and the pair dropped below support, exiting the tight range.
Forex News: The US Dollar had a mixed session Friday, strengthening at first and then erasing all gains on the back of a worse than expected Consumer Sentiment survey. The pair remained between support and resistance, in a relatively tight range.
Forex News: Price action was mixed yesterday and the pair remained confined inside the range between 1.0710 resistance and 1.0650 support. The U.S. Unemployment Claims posted a lower number and this strengthened the US Dollar to some extent.
Forex News: Yesterday was a slow day on the fundamental scene but the pair didn’t lack action and showed a perfect bounce at support, followed by a touch of resistance. It remained capped and a breakout didn’t occur.
Forex News: The US Dollar continued its assault on the Euro yesterday and the pair dropped in close vicinity of support. Overall the session was bearish, with very little buyer presence.
Forex News: Yesterday the US Dollar erased all the losses incurred Friday and the pair slipped below the 50 period Exponential Moving Average, reaching support. Most of the session was controlled by the bears and the uptrend seems to have hit a dead end.