-Since the start of the year, EUR/USD daily RSI has oscillated between 60 and 40 (nothing above 70 or below 30). This ‘RSI profile’ indicates range conditions. At some point, these range conditions will break and a trend will emerge. When is that ‘some point’? I don’t know but it’s probably soon because this feeling of peak frustration is typical before a sizeable move. Price wise, a short term trendline is being put to the test. If it breaks, then short ...
Reflecting a steep drop in fuel prices, the Labor Department released a report on Wednesday showing an unexpected decline in U.S. import prices in the month of March. The Labor Department said import prices dipped by 0.2 percent in March after climbing by a revised 0.4 percent in February. more...
The European Central Bank's monetary policy stance is appropriate and a reassessment is not warranted at this stage, though the bank stands ready to act when required, ECB Vice-President Vitor Constancio said Monday. more...
EUR/USD made its way to lower ground, struggling to gain ground. The week including Good Friday features business surveys and also some inflation figures. Here is an outlook for the highlights of this week Sentix Investor Confidence: Monday, 8:30.German ZEW Economic Sentiment: Tuesday, 9:00. A small slide to 25 is on the cards.Industrial Production: Tuesday, 9:00. A more modest rise of 0.2% is expected.German CPI (final): Thursday, ...
EUR/USD “Recall that a key reversal occurred in January. There is divergence with RSI (monthly and weekly) and the decline from 2008 channels. The described conditions suggest a major bottoming scenario but if a new low is made then pay attention to 1.0200 (channel line).” Not much of anything has changed for EUR/USD on the long term charts. The downward sloping parallel near 1.1150 remains resistance as well as the trigger line for a major ...
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