Following Thursday’s big falls for equities (because of concerns over economic recovery and new infections), the dollar has come back to life on haven flows. With the dollar extending its gains this late in the day on Friday, it looks set to extend its advance against the likes of the euro and pound next week. …
EUR/USD in reversal as dollar comes back to life Read More »
Following ECB’s decision to announce a massive, open-ended, €750 billion asset purchase programme in an effort to mitigate the economic impact of the virus outbreak, the EUR/USD has nosedived. Already under pressure because of a rallying US dollar, this package was the final nail in the coffin for the single currency. If it stays below …
I was asked by a friend about my views of the EUR/USD. So wanted to share what I said to him here. I will keep it very brief, but first have a look at this EUR/USD chart showing price action on H1, Daily and Monthly time frames: Monthly is currently displaying a doji candle. The …
The EUR/USD has been creeping higher over the past few days, after a big drop in early Feb. But this appears to be a dead cat bounce. The hourly chart shows price failing to hold above old highs, where it has just created a rather large bearish engulfing candle. If I am reading this correctly, …
