Technically, EUR/USD remains within an interesting consolidation between 1.1223 and 1.1045 on the H4 scale. The upper boundary contains January’s opening level at 1.1222, a 38.2% Fibonacci resistance at 1.1223 and the 1.12 handle.
Global Markets: Asian Stock Markets : Nikkei down 2.46%, Shanghai Composite down 3.40%, Hang Seng down 5.51%, ASX down 9.70% Commodities : Gold at $1532.15 (+1.02%), Silver at $14.30 (-1.38%), Brent Oil at $31.76 (-6.17%), WTI Oil at $30.62 (-4.64%) Rates : US 10-year yield at 0.709, UK 10-year yield at 0.416, Germany 10-year yield … Continue reading Monday 16th March: Markets look forward to US stimulus package
The 2019 yearly opening level from 1.1445 elbowed its way back into the spotlight last week, with bears reasserting their dominance and snapping a three-week winning streak. Down more than 180 points, price dipped its toes back within a descending channel formation (1.1569/1.1215), and is poised to revisit support priced in at 1.0873 (the 2016 yearly opening level) this week, in line with the primary trend, drifting south since 2018.
Global Markets: Asian Stock Markets : Nikkei down 6.02%, Shanghai Composite down 1.23%, Hang Seng down 1.51%, ASX up 4.42% Commodities : Gold at $1587.80 (-0.16%), Silver at $15.64 (-2.31%), Brent Oil at $34.41 (+3.58%), WTI Oil at $32.73 (+3.90%) Rates : US 10-year yield at 0.888, UK 10-year yield at 0.272, Germany 10-year yield … Continue reading Friday 13th March: Markets look forward to US stimulus package.
Europe’s single currency attempted a comeback against the buck off the 61.8% Fibonacci retracement ratio at 1.1053 on the H4 scale, a touch north of March’s opening level at 1.1045, after free falling from highs at 1.1333.
