Last week, the Euro furthered weakness off confluent trend-line resistance. The move from resistance already has big support in view as the trading range remains quite narrow in historical terms. Only a small handful of times has the 6-month range ever been this tight. In the current environment fade trades off significant levels have been the only tactical approach working. Next week may bring another such opportunity if either the lower ...
With an increase in inventories of durable goods partly offset by a drop in inventories of non-durable goods, the Commerce Department released a report on Friday showing wholesale inventories in the U.S. rose by less than expected in the month of November. more...
The Euro failed to make good on an attempted break higher from a range confining price action against the US Dollar since late October. The pair briefly breached resistance in the 1.1456-81 area but the upswing ran out of steam on a test of trend line resistance set from January 2018. A test of this barrier produced a bearish Evening Star candlestick, which was soon followed by a drop back into familiar territory. Sellers are now eyeing ...
After being confined to trading within a horizontal range between 0.89525 and 0.90607 since December, the Euro is quickly losing ground against the British Pound after a rising support line was breached as anticipated. Not only has EUR/GBP fallen about 2.25% since January 11th, but also the pair achieved its longest daily losing streak since October 9th (5 days). Fundamentally, this has been due to the latest Brexit developments. ...
Eurozone manufacturing expanded at the weakest pace since early 2016 in December as new orders fell for a third month and business confidence eroded to a six-year low, results of the survey by IHS Markit confirmed on Wednesday. The final Eurozone Manufacturing Purchasing Managers' Index, or PMI, was 51.4, unchanged from the flash, but lower than November's 51.8. more...
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