somrat4030
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EUR/USD lacks a clear directional bias below 1.1600. The US dollar consolidates gains ahead of the key US event risks. The Fed is set to announce tapering while ECB President Lagarde will continue defending bond-buying. US ADP jobs, ISM Services PMI eyed pre-Fed.
The near-term technical outlook shows that the pair stays in a consolidation phase with the Relative Strength Index (RSI) indicator on the four-hour chart moving sideways around 50. However, EUR/USD stays below the 20, 50, 100 and 200-period SMAs on the same chart, suggesting that buyers show no interest in the euro for the time being.
On the upside, 1.1600 (psychological level, 100-period SMA) now aligns as the first resistance ahead of 1.1620/30 area (Fibonacci 23.6% retracement of September downtrend, 200-period SMA) and 1.1670 (Fibonacci 38.2% retracement).
On the other hand, The US Dollar has made ground in a week full of central bank action. The RBA led the way yesterday, stepping back from yield curve control having already begun tapering their bond purchasing program.
The Fed are up today, and the market is on tapering tenterhooks as expectations are high for a reduction in the monthly asset purchasing program. There will be significant focus on the wording in the statement for clues on when the program will end and when the rate hikes will begin.
Another news is, The world’s largest trade deal — which includes China and excludes the U.S. — will come into force in January next year.
It comes as Australia and New Zealand announced they have ratified the agreement.
The Regional Comprehensive Economic Partnership or RCEP was signed last year by 15 Asia-Pacific countries. The countries are the 10 members of the Association of Southeast Asian Nations and five of their largest trading partners China, Japan, South Korea, Australia and New Zealand.
On the other hand, UK crypto derivatives ban fails to protect retail investors.
The valuation of cryptocurrencies has increased dramatically in the past 12 months, as has their adoption by investors around the world — individuals as well as institutions.
Until a few years ago, most retail investors would have required the use of a broker or investment professional to handle their investments. Today, consumers flock to apps and platforms that enable them to make direct investments on their own, without an intermediary, both in traditional financial assets — and increasingly in crypto.
#forex #forexforum #currencytrading #forumdotforex #forumforex #currencytradingforum #forextrading
EUR/USD lacks a clear directional bias below 1.1600. The US dollar consolidates gains ahead of the key US event risks. The Fed is set to announce tapering while ECB President Lagarde will continue defending bond-buying. US ADP jobs, ISM Services PMI eyed pre-Fed.
The near-term technical outlook shows that the pair stays in a consolidation phase with the Relative Strength Index (RSI) indicator on the four-hour chart moving sideways around 50. However, EUR/USD stays below the 20, 50, 100 and 200-period SMAs on the same chart, suggesting that buyers show no interest in the euro for the time being.
On the upside, 1.1600 (psychological level, 100-period SMA) now aligns as the first resistance ahead of 1.1620/30 area (Fibonacci 23.6% retracement of September downtrend, 200-period SMA) and 1.1670 (Fibonacci 38.2% retracement).
On the other hand, The US Dollar has made ground in a week full of central bank action. The RBA led the way yesterday, stepping back from yield curve control having already begun tapering their bond purchasing program.
The Fed are up today, and the market is on tapering tenterhooks as expectations are high for a reduction in the monthly asset purchasing program. There will be significant focus on the wording in the statement for clues on when the program will end and when the rate hikes will begin.
Another news is, The world’s largest trade deal — which includes China and excludes the U.S. — will come into force in January next year.
It comes as Australia and New Zealand announced they have ratified the agreement.
The Regional Comprehensive Economic Partnership or RCEP was signed last year by 15 Asia-Pacific countries. The countries are the 10 members of the Association of Southeast Asian Nations and five of their largest trading partners China, Japan, South Korea, Australia and New Zealand.
On the other hand, UK crypto derivatives ban fails to protect retail investors.
The valuation of cryptocurrencies has increased dramatically in the past 12 months, as has their adoption by investors around the world — individuals as well as institutions.
Until a few years ago, most retail investors would have required the use of a broker or investment professional to handle their investments. Today, consumers flock to apps and platforms that enable them to make direct investments on their own, without an intermediary, both in traditional financial assets — and increasingly in crypto.
#forex #forexforum #currencytrading #forumdotforex #forumforex #currencytradingforum #forextrading
