Trading the News: U.S. Consumer Price Index (CPI) A rebound in the headline U.S. Consumer Price Index (CPI) may boost the appeal of the greenback and spur a near-term pullback in EUR/USD as it puts increased pressure on the Fed to normalize monetary policy sooner rather than later. What’s Expected: Why Is This Event Important: Signs of stronger price growth may keep the Fed on course to raise ...
Morgan Stanley Chart Of The Week - EURUSD On the long-term EUR/USD Chart "Despite the corrective rebound developed since early March, EURUSD remains within a long term down trend, which accelerated from June of last year. Indeed, this move lower over the past year forms part of a C wave decline within a broad multi year corrective structure which has developed since the 1.6038 peak of 2008. The pace of decline over the past year is typical for a C wave. This suggests ...
EUR/USD: And now? With yesterday’s downside correction out of the way there’s a big question mark over what the next step from here will be. However as long as the hourly pattern with lower highs remains in place (i.e. staying below 1.1278) we will hold a light downside bias. EUR/JPY: 3RD Attempt to break below 138.44. With a relatively high probability we’re now in for a third attempt to break ...
Technical Developments to Watch: EUR/USD still below key trend line resistance at 1.1380 GBP/USD testing key support at 1.5190 USD/JPY at a 13-year high, bias bullish above 124.15 NZD/USD in play, potential for another leg lower if RBNZ cuts rates EURUSD exploded higher early last week before but gave back most of its gains on Thur. & Fri. MACD and Slow Stochastics show balanced, ...
Activity in the U.S. manufacturing sector grew faster than anticipated in the month of May, according to a report released by the Institute for Supply Management on Monday. The ISM said its purchasing managers index climbed to 52.8 in May from 51.5 in April. EURUSD M5: 71 pips price movement by USD - ISM Manufacturing PMI news event : More...
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