European Union Foreign Exchange
The focus will firmly be on economic indicators this week as political and central bank events temporarily take a back seat. The latest PMI releases for the Eurozone will be one of the highlights as growth in the region grinds to a halt, while employment numbers out of Australia and the United…
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USD/CHF edges higher; bullish phase remains intact

USD/CHF has moved considerably higher after the touch on the ascending trend line, recording a new three-month high of 1.0097 on Thursday. The price climbed well above the 20- and 40-simple moving averages (SMAs) in the daily timeframe,…

EUR/NZD posts new 2-month low around 1.6500

EUR/NZD is printing its second strong day of losses after the failed attempt to break above the area which encapsulates the 38.2% Fibonacci retracement level of the downleg from 1.7925 to 1.6330, around 1.6940. Currently, the euro/kiwi…

EUR/JPY continues trading in upward sloping range

EUR/JPY is falling today after the strong jump above the 20- and 40-simple moving averages (SMAs) in the 4-hour chart. The pair is struggling within an upward sloping channel since January 15, finding strong resistance obstacle around the…

NZD/USD records strongest rally in three months

NZD/USD jumped with full force early on Wednesday after finding support at the top of the Ichimoku cloud as stochastics entered oversold territory below 20. The RSI is positively sloped slightly above its 50 neutral mark, a sign that…

EUR/USD rebounds on short-term uptrend line

EUR/USD has tumbled over the preceding five consecutive days, falling back below the 20- and 40-simple moving averages (SMAs) in the daily timeframe. Also, the SMAs posted a bearish crossover last Friday, signaling negative movement.…