GBP/USD has been benefiting from the upbeat market mood which weighs on the dollar.   Robust UK job figures and less fear from the virus strains is boosting sterling.   Tuesday’s four-hour chart is showing that cable has entered overbought conditions.   Can technicals defy fundamentals and pull cable back down? It seems that the...

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EUR/USD has hit new highs near 1.22 amid the risk-on mood. Europe’s reopening is supporting the euro while the Fed’s dovishness weighs on the dollar.   Tuesday’s four-hour chart shows there is more room to rise.   Is rising US inflation a reason to buy the dollar? Only if the Federal Reserve is worried, and...

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GBP/USD has been trying to find its feet after falling last week. Concerns about global growth could keep the dollar depressed. Optimism about the UK’s reopening may push sterling higher. Tuesday’s four-hour chart is painting a mixed picture. Summer is here – officially there is a month left, but Brits are already taking advantage of...

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EUR/USD has been hovering above 1.21 and may rise on weaker inflation fears.   Europe’s vaccination campaign continues at full force, underpinning the euro.   Monday’s four-hour chart is showing momentum has turned to the upside.   New week, new highs? Perhaps not all euro bulls have begun the week with fresh energies, but the...

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GBP/USD has been attempting recovery as markets swing back to positive ground.   The danger from variants to Britain’s reopening and US consumption data could push the pair lower. Friday’s four-hour chart is showing that 1.40 is a critical separator of ranges. Call off the reopening? Prime Minister Boris Johnson has come short of suggesting...

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EUR/USD has been able to stabilize as the market mood improved.   US consumption figures may trigger a fresh rush to the dollar. Friday’s four-hour chart is showing bears are gaining ground.   Is that it? EUR/USD bulls may be asking themselves, frustrated from the minor recovery – a classic “dead-cat bounce.” Markets have been...

The post EUR/USD: Only a dead cat bounce? US Retail Sales may trigger a downfall to 1.20 appeared first on Forex Crunch.

US inflation figures have smashed expectations and points to an overheating economy.   Stocks have tumbled and the dollar has responded positively in a knee-jerk reaction. The Federal Reserve may still see through these figures and turn the trend around. Rearing its ugly head – headline inflation has leaped to 4.2% annual in April while...

The post US Inflation Analysis: Fed may fade fears of overheating, dollar selling opportunity? appeared first on Forex Crunch.

GBP/USD has been retreating from the highs amid a worsening market mood.   US inflation data is critical to the dollar’s next moves after UK GDP figures have supported sterling.   Wednesday’s four-hour chart is showing cable is still near overbought conditions.   Is the downside correction over? Not so fast, as GBP/USD has yet...

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EUR/USD has been under pressure as the dollar benefits from safe-haven flows. All eyes are on US inflation, which is set to spark volatility.   Wednesday’s four-hour chart is painting a bullish picture. Inflation is coming – perhaps, but it could already be well in the dollar’s price, resulting in traders selling the greenback and...

The post EUR/USD: Sell the rumor, buy the fact? Why US inflation data may trigger a rally appeared first on Forex Crunch.

EUR/USD has drifted upward as markets remain cautious. Another down day in stocks could boost the safe-haven dollar, in addition to dovish ECB comments. The four-hour chart shows that the currency pair is near overbought conditions.   Two steps forward, one step back, and now another upswing? Not so fast. Euro/dollar has benefited from some...

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