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EUR/USD: The single currency, as you can see, lost considerable ground against its US counterpart on Tuesday. Political unrest in Italy continued to plague the markets, triggering broad risk aversion. Italy’s PM designate Cottarelli left a meeting with President Mattarella without reaching an outcome on forming a government, but reports suggested he will try again … Continue reading Wednesday 30th May: Broad risk aversion seen in the currency markets amid Italy’s political situation

EUR/USD: Despite a solid bounce to the upside from November’s opening level (2017) seen on the H4 timeframe at 1.1651 in early trade on Monday, upside momentum diminished above the 1.17 handle. In the absence of economic data and both US and UK banks closed, political tensions led the way in European hours. 1.17 was … Continue reading Tuesday 29th May: Can the USD remain bid?

UK banks are closed in observance of the Spring Bank Holiday. US banks are also closed in observance of Memorial Day. EUR/USD: Weekly Gain/Loss: -1.09% Weekly Closing price: 1.1648 Over the course of last week the single currency continued to spiral south. In the shape of a near-full-bodied weekly bearish candle the pair recorded its … Continue reading Monday 28th May: Weekly technical outlook and review