Bulls face headwinds at key resistance zone
Cable pulls back from new one-week high (1.2542) and dips below 1.2500 in early European trading on Wednesday as bulls faced headwinds from strong resistance zone at 1.2517/42 (10 DMA / Fibo 38.2% of 1.283/1.2335 / 20DMA).
The pair was…
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Euro stands at the front foot ahead of German data, but weak momentum requires caution
The Euro holds positive tone for the third consecutive day and trading above 1.13 mark in early Wednesday, following Tuesday’s close above this barrier.
Risk sentiment on rising optimism of global economic recovery, talks about further US…
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Recovery loses traction despite upbeat PMI numbers
Cable probed briefly above 1.2500 level and hit session high at 1.2512, in immediate reaction to upbeat UK PMI data, but subsequent quick easing signaled that recovery faces strong headwinds.
Data showed significant improve in…
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Euro extends recovery after upbeat Eurozone PMI data
The Euro cracked psychological 1.1300 barrier on jump to one-week high (1.1305) following series of better than expected PMI data from the EU members countries.
Upbeat figures from France, Germany and the Eurozone signal downturn in the…
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Fading haven demand deflates dollar across the board
The dollar index accelerated lower in early US trading on Monday, down 0.5% since opening in Asia, as the greenback’s haven appeal fades.
Renewed optimism about swift recovery, despite persisting fears of the second wave of coronavirus,…
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