2020

The common currency is pushing lower after failing to hold on to the support level near 1.1100. Given that the trend line is broken, the next lower support is at 1.0850. For the moment, the 1.1000 level could offer some support which…
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The current EURUSD structure suggests that we are near the end of a major upward impulse wave. We see after completing the ascending cycle wave III, a decline in the correction IV initiated. The correction wave IV structure could be a…
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Recent developments saw the Fed slashing rates further while pledging to increase its bond holdings by $700 billion. The King Dollar fell at the start of the recent financial turmoil. After peaking up to just shy off the triple-digit…
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Coming up we have some important data that could influence the NZD. The more remarkable will probably be the release of last quarter's GDP numbers. At this point, many might have completely forgotten the more optimistic run-up to the end…
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The US Commerce Department will be releasing the monthly retail sales figures. Forecasts for February 2020 show a 0.2% increase on the headline and the core for the month. This marks a modest slowdown from the 0.3% increase on both counts…
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Euro Supported by the Major Trend Line The common currency broke past the initial, steeper trend line. But it is finding support near the confluence of the major trend line and the horizontal support level. The price level near 1.1100…
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Aside from the ZEW Economic Sentiment, the calendar for the EUR is thin this week. Therefore, EUR traders will want to keep an eye on the upcoming data. In January 2020, the German ZEW registered its highest print since July 2015.…
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For the oil market, it is not just about the coronavirus hampering demand, but also about the tit for tat between Saudi Arabia and Russia. Technically, crude oil shows room for a drop towards the $21-22 handle (see highlighted area…
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