Article Archives (2018)
Jun 7, 2018 17:24 | by Ashraf Laidi | 56 CommentsEURUSD posts its biggest weekly gain in five months despite ongoing uncertainty in Italy and fresh declines in Italian bonds and equity indices.
USDX broke above that key neckline resistance of the inverted H&S formation, coinciding with the 55-DMA. The big question facing the FX market remains whether this is a dollar dead-cat bounce or the start of a longer retracement cycle. The price action on Tuesday highlighted the scope for further gains as it broke some technical levels and neared others. The bid in the dollar was strong and steady even as the news and market sentiment varied.