EUR/USD Forecast: Set-up supports additional gains, Powell’s testimony in focus
Forex Today: Kiwi bulls emboldened in Asia, markets eye Powell testimony
Forex today saw NZD going ballistic on the back of upbeat RBNZ’s core inflation number and greenback’s exchange rate, as represented by the dollar index (DXY), deflate to 200-hour moving average support.
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Crypto market overview: Bitcoin, Ethereum and Ripple gained over 5% amid evidence of institutional adoption
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NEO Technical Analysis: NEO/USD sees the big bulls driving the price over 9% higher on Monday
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EOS price analysis: EOS/USD spikes over 9% higher on Monday, as bulls lay foundations for decent recovery
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Bitcoin Cash Technical Analysis: BCH/USD is the big out performer gaining 9%, but falling short ahead of $900
BCH/USD fell short ahead of the $800 mark, not seen since the 4th July. Bitcoin Cash produces decent gains on Monday, jumping over 9%.
BoE's Carney to deliver key speech to the Treasury Select Committee.
Fed's Powell will be testifying before the Senate Banking Committee.
UK Average Earnings (excl. bonuses) are expected to hold steady at 2.5%
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ECB's Minutes cooled down hopes for a sooner rate hike in the EU
The dollar resumed its advance in a week where the trade war ups and downs, once again led the way. Trade tensions escalated mid-week on the back of headlines indicating that the US was planning to launch a list worth $200B goods, on where to impose a 10% tariffs.
The EUR/USD is looking for a new direction as traders shift their attention back to trade after France won the World Cup. What's next?
The Technical Confluences Indicator shows significant resistance at 1.1725 which is the confluence of the Fibonacci 61.8% one-month, the Fibonacci 61.8% one-week, and the Simple Moving Average 50-one-day.
Higher above, 1.1792 is the convergence of the one-month high, the one-week high, the Pivot Point one-week Resistance 1, and the Pivot Point one-day Resistance.
On the downside, 1.1658 is the confluence of the Fibonacci 23.6% one-week, the Bolinger Band one-day Middle (Stdv. 2.2), the Fibonacci 38.2% one-day, and the Simple Moving Average 100-15m.
