Weekly Analysis: Price action was choppy last week, apart from Tuesday when we saw a strong bullish push that took the pair into 1.0800 resistance. The buyers remained in control but strength faded after Tuesday’s climb.
Weekly FX Analysis
Weekly Analysis: Last week the Fed decided to hike the rate to <1.00% but their expectations for the rest of the year remained relatively low, anticipating only 2 more increases and this was generally perceived as bearish for the US Dollar. This was also the main reason for the pair’s strong climb.
Weekly Analysis: After a bearish start of last week, the pair rallied during the last two trading days and pushed higher, testing resistance. Although the NFP report showed more jobs, hourly wages decreased and apparently this was the reason for US Dollar weakness.
Weekly Analysis: Last week we saw a bounce lower from the 50 days Exponential Moving Average but all the US Dollar gains were erased Friday despite Fed Chair Yellen’s speech that was considered hawkish by many. Now the pair is back to the highs of the previous week.
Weekly Analysis: After reaching the weekly target at 1.0525, the pair bounced higher immediately and tested resistance. Most of the Dollar weakness was triggered by a rather dovish stance adopted by Fed Chairwoman Janet Yellen.
Weekly Analysis: Last week’s price action confirmed 1.0800 as a very strong zone of resistance and the pair bounced lower once it reached it. Now price is trading below the 50 days EMA and the bears are in control of short term movement.
Weekly Analysis: U.S. data released throughout last week was mostly bearish and the Fed kept the rate unchanged, without hinting about a March hike. Also the NFP report showed more jobs but with a lower hourly wage and this increased market confusion.
Weekly Analysis: Last week the bears managed to erase some of the advances made by the buyers and we saw a pullback to the previous support; however, the pair remained above the 50 period Exponential Moving Average and the short term bias is still bullish.
Weekly Analysis: Last week Donald trump became the 45th President of the United States, assuming office on January 20, 2017. The pair had a bullish week overall, with US Dollar weakness and remained above the Daily Moving Average.