EUR/USD is on the back foot, trading around 1.1250, slightly below the highs. Traders are returning from the long Easter weekend and spreads between US and German yields hit a 4-month high, weighing on the euro.
GBP/USD is trading below 1.3000, close to the levels seen in mid-March. Talks between the government and the opposition continue. No progress has been reached. Parliament returns today.
The US Dollar may be set for a revival this week as recent economic statistics point to stronger economy in the first quarter than depicted in the marred reporting around the January government closure.
The oil benchmark surged more than 3 percent yesterday after Washington abruptly announced an end all Iran sanctions waivers by May, forcing importers like Japan and India to stop buying from Tehran.
Bitcoin and all major altcoins are trading in a green zone.The market has been recovering from the recent losses as the total value of all digital assets in circulation jumped to $180 billion from $177 billion this time on Monday.
Litecoin has gained over 3.5% in recent 24 hours amid strong bullish momentum. The 6th largest digital asset recovered losses incurred in the weekend and returned to the levels registered seven days ago, At the time of writing,
According to Ethereum Classic developer Donald McIntyre from ETCDEV team, ETC ecosystem can provide security to Ethereum, while in-depth bilateral integration of Ethereum Classic and Ethereum will allow creating a truly secure and effective blockchain.
ETH/USD spiked to $175.50, amid strong Bitcoin rise. At the time of writing, the second largest coin with the current market cap of $18.4 billion is changing hands at $174.40, with over 2.6% gains on a day-on-day basis.
German economic slowdown weighing on the Union, ECB's stimulus more than justified
Indecisive market's behavior at the beginning of the week got sort of a definition Thursday, with the EU Markit preliminary PMI for April. The reports indicated that business activity bounced from March's collapse, but not enough. The index for the German's manufacturing sector barely recovered from a multi-year low and remained well into contraction territory.
EUR/USD enjoyed a recovery of sorts during the Easter weekend, reaching 1.1250 and staying away from 1.1200. What's next? The next moves to the upside may be limited.
The Technical Confluences Indicator shows that the pair is struggling around 1.1250 where we see the convergence of the Bollinger Band 15min-Lower, the Fibonacci 61.8% one-day, the Fibonacci 23.6% one-week, the previous 1h-low, the BB 1d-Middle, the Simple Moving Average 5-15m, and more.
The next cap is quite close. At 1.1285, EUR/USD faces the juncture of the Pivot Point one-day Resistance 2, the Fibonacci 61.8% one-week, the BB 4h-Upper, the SMA 200-1h, and the Fibonacci 38.2% one-month.
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