EUR/USD Bullish Continuation Potential Above 1.0350EUR/USD is eagerly approaching another key zone of resistance as a combination of USD weakness and a break of 1.035 has allowed the major currency pair to hold onto recent gains. The Reserve Bank of Australiawill announce its decision on monetary policy first thing Tuesday. The American dollar finished Monday with substantial gains after starting the day on the back foot. The Greenback initially fell on the back of news https://forexreviewdaily.com/forex-club/ coming from China, as different districts are easing their restrictive COVID-19 measures, while market talks pointed at further loosening in January. Price action traders may also wish to note that we see a pin bar candlestick pattern on gbpcad. Price action traders may also wish to note that we see a pin bar candlestick pattern on gbpjpy. Relative to other instruments in the forex asset class, nzdjpy ranked 10th the previous day in terms of percentage price change.

As long as this correlation holds, traders can get clues as to where Gold may be headed based on the direction of the DXY. Investing.com – The EUR/USD pair hardly reacted to the positive European inflation surprise. The preliminary Eurozone CPI for November came in at 10%, down from 10.4% expected, and… By Savyata Mishra – Investors turned modestly bullish on currencies of South Korea, Malaysia and Thailand, supported by prospects of China’s reopening, a Reuters poll… Investing.com – Yesterday was a busy day for the EUR/USD, with gains in the morning, in the face of half-hearted European inflation figures, then with a correction in the… Vaccine partners Pfizer Inc. and BioNTech SE are seeking emergency use authorization or EUA from the U.S.

• For its part, the IMF in a statement last week had said Pakistan’s “timely finalisation” of a recovery plan from floods was essential to support discussions and continued financial support.
• Factory orders and construction Purchasing Managers’ survey results from Germany are the top economic news due on Tuesday.
• LONDON -The euro retreated against the pound on Wednesday after data showed euro zone inflation cooled off by more than expected in November, reinforcing the case for a…
• The chart below summarizes the price news by currency, showing which currency strengthened vs which weakened when equally averaged against other currencies.
• Relative to other instruments in the forex asset class, nzdjpy ranked 10th the previous day in terms of percentage price change.

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The Dollar put itself into a position for a potential critical breakdown that could redefine its medium to long-term trend from the productive bullish climb of 2022 into a progressive retreat from multi-decade highs. USDJPY is perhaps the most extreme cross to reference amid the reversal risk considering that its brief rally above 150 a few months back … By John McCrank NEW YORK – The dollar gained against the yen, the euro and the pound on Monday after data showed that U.S. services industry activity unexpectedly picked… Keep track of the latest currency market moves as they develop. Stay up-to-date on breaking https://forexreviewdaily.com/ as well as relevant financial developments. Factory orders and construction Purchasing Managers’ survey results from Germany are the top economic news due on Tuesday. At 2.00 am ET, Destatis is scheduled to issue Germany factory orders data for October.

Moving Averages in the Forex World

Pakistan’s forex reserves stood at a historic low of $7.5 billion for the week ending on November 25 — barely enough to cover a month’s imports. https://forexreviewdaily.com/ Get all the news on the go – no matter if you are travelling, on vacation, no time to search for news – all the time forex comes handy.

Markets changed course following the release of upbeat US data, with the US Dollar accelerating its advance ahead of Wall Street’s close. The official ISM Services PMI for November improved by more than anticipated, surging to 56.5 from 54.4 and beating the 53.1 expected. Additionally, Factory Orders rose by 1% MoM in October, better than the 0.7% advance expected, while S&P Global upwardly revised its November Services PMI to 46.2 from a preliminary estimate of 46.1. This move is a reversal from the hour prior, which saw price move up.

Central Bank Rates

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Economists forecast orders to grow 0.1 percent on month, in contrast to the 4.0 percent decrease in September. Asian stocks finished trading on a mixed note with benchmarks in Hong Kong, South Korea, Australia and New Zealand closing below Monday’s levels, amidst anxiety over the Fed’s stance given the strong service activity readings. Shanghai Composite as well as the Shenzen Component Index gained as hopes of relaxation in Covid curbs drove sentiment. The Australian dollar perked up from near one-week lows after the Reserve Bank of Australia raised rates for the eighth time in as many months. “There seems to be significant uncertainty on the outlook for forex reserves, especially as the 9th IMF programme review is still pending,” said Raza Jafri, head of research at Intermarket Securities. Japan finance minister Suzuki says its important for FX to move stably in line with fundamentals.

China is expected to announce a further substantial easing of COVID curbs on Wednesday

Food and Drug Administration to offer their bivalent COVID-19 vaccine to children 6 months through 4 years of age. If authorized, the vaccine would be part of a primary series for children in this age group. How to Trade with the Relative Strength Index The Relative Strength Index is a popular technical https://forexreviewdaily.com/ indicator used to identify over-bought or over-sold conditions. EUR/JPY Breaks Horizontal Resistance, Eyeing Triangle BreakoutThe pair is at an interesting point at present with price action giving mixed signals. Price is being squeezed with the apex of the triangle approaching, a breakout is imminent.

EUR/USD Bullish Continuation

Factory orders posted a monthly growth of 0.8 percent in October, in contrast to the revised 2.9 percent decrease in September. Orders were expected to gain marginally by 0.1 percent. Leveraged trading in foreign currency or off-exchange products on margin carries significant risk and may not be suitable for all investors. We advise you to carefully consider whether trading is appropriate for you based on your personal circumstances. We recommend that you seek independent advice and ensure you fully understand the risks involved before trading.

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Our team of professional traders has been testing Forex brokers for over 12 years and has helped millions of traders find the right broker. By Peter Nurse Investing.com – The U.S. dollar slipped lower in early European trade Wednesday with risk appetite www fxclub growing on hopes of China easing its tight COVID-related mobility… By Ambar Warrick Investing.com– Most Asian currencies moved little on Friday as caution kicked in ahead of U.S. payrolls data that is likely to affect monetary policy, although…