DAILY MARKET OUTLOOKUpdate Time: 07 Jan 2016 02:49 GMT
EUR/USD - 1.0815
Despite yesterday's weakness to 1.0716, subsequent rebound to 1.0799 in post-FOMC minutes New York afternoon, then intra-day rally above this res level confirms euro's recent decline from December's 1.1060 peak has made a low on Tuesday at 1.0711 and consolidation with upside bias is seen, above res at 1.0839 would encourage for further headway towards 1.0886, reckon 1.0900/10 should hold.
On the downside, only below 1.0773/74 would dampen current bullish view on euro and may risk stronger retreat towards 1.0747 but 1.0711/16 should 'remain intact'.
Trendsetter does not warrant or guarantee the accuracy, timeliness or completeness to its service or information contained therein. Trendsetter does not give, whatsoever, warranties, expressed or implied, to the results to be obtained by using its services or information it provided. Users are trading on their own risk and Trendsetter shall not be responsible under any circumstances for the consequences of such activities. Trendsetter and its affiliates, in no event, be liable to users or any third parties for any consequential damages, however arising, including but not limited to damages caused by negligence whether such damages were foreseen or unforeseen.
Recommended Content
Editors’ Picks
EUR/USD holds above 1.0650 amid renewed selling pressure in US Dollar
The EUR/USD pair edges higher to 1.0672 during the early Thursday. The recovery of that major pair is bolstered by renewed selling pressure in the US Dollar and a risk-friendly environment.
GBP/USD remains capped below 1.2470, eyes on US data
The GBP/USD pair trades on a softer note around 1.2450 on Thursday. The softer UK inflation data prompted the expectation that the Bank of England will start lowering interest rates in the coming months, which weighs on the Pound Sterling against the Greenback.
Gold appears a ‘buy-the-dips’ trade on simmering Israel-Iran tensions
Gold price attempts another run to reclaim $2,400 amid looming geopolitical risks. US Dollar pulls back with Treasury yields despite hawkish Fedspeak, as risk appetite returns. Gold confirmed a symmetrical triangle breakdown on 4H but defends 50-SMA support.
Manta Network price braces for volatility as $44 million worth of MANTA is due to flood markets
Manta Network price was not spared from the broader market crash instigated by a weakness in the Bitcoin market. While analysts call a bottoming out in the BTC price, the Web3 modular ecosystem token could suffer further impact.
Investors hunkering down
Amidst a relentless cautionary deluge of commentary from global financial leaders gathered at the International Monetary Fund and World Bank Spring meetings in Washington, investors appear to be taking a hiatus after witnessing significant market movements in recent weeks.