Euro kept strengthening versus the U.S. dollar at the beginning of the past trading week. The upside pressure of EUR/USD was supported by strong demand for call options and the technical sentiment.
The most popular currency pair had quite a bullish price action this past week. Although the daily chart was not clear in terms of the trend’s direction until Friday, while the hourly timeframe was
The American dollar is ready to celebrate Christmas in a good mood! Contrary to concerns, the U.S. economy is not showing any signs of recession. GDP grew by 2.1%, consumer income is 0.1% higher than
USD/CHF is trading at the bottom of the sideways range, which used to hold the exchange rate since September 2019. The bearish action might be limited unless a breakout of the support at 0.9800
The New Zealand dollar was surprisingly the strongest major currency versus the greenback this past week.
Monday evening and bounced off the round-figure support of 1.1000. After peaking at 1.1025, the pair kept declining toward another local bottom of 1.0990.
EUR/USD retraced back south from the resistance range, the oscillator reflected that movement immediately by crossing the overbought level from above.
The technical sentiment was diverging with the price action as well. Besides weak momentum, the sequence of lower lows on the hourly price chart was followed by higher lows of MACD lines.
The intraday trading was headed in one direction as binary options traders were buying only put options this past week. Both MACD lines did not appear above zero, remaining in the negative territory
The uptrend accelerated after EUR/USD charted a long downside shadow on the hourly candle and MACD lines spread, going north. However, the bullish momentum exhausted when the pair peaked at 1.1176
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