According to FX Street, the spot suffered moderate losses on Wednesday, as Spain reported the highest daily increase in coronavirus cases deaths in four days. Meanwhile, the European Central Bank (ECB) said they have obligation to keep rates low for a long period of time while leading Germany economic forecast institutes see the economy shrinking as much as 10% in the second quarter. That likely added to bearish pressures around the single currency.
EUR to USD stats (Photo source: XE.com)
However, while the euro vs dollar exchange rate declined, it still traded well within Wednesday's trading range on Monday, forming an inside day candlestick pattern on the daily chart, a sign of indecision in the market place.The euro to dollar exchange rate was consolidating a modest retreat, trimming some weekly gains. On Tuesday it jumped more than a hundred pips to 1.0927 and today pulled back, finding support at 1.08, analyzed by FX Street.
EUR to GBP chart (Photo source: Tradingview)
EUR to GBP stats (Photo source: XE.com)
The euro to pound EUR/GBP closed at 0.88 today. The chart produced two consecutive bearish reversal candles. The chart shows that the price made a bearish breakout at yesterday's lowest low. If the current candle closes within the breakout level and the next candle comes out as a bearish engulfing candle closing below today's lowest low, the sellers may go short to grab some pips. The chart shows that the price made a breakout at the level of 0.88. The last candle may come out as a bullish corrective candle. If the candle closes within the breakout level and the next candle closes below the level of 0.87, the sellers may trigger a short entry, commented by FX street.
EUR to AUD chart (Photo source: Tradingview)
EUR to AUD stats (Photo source: XE.com)
The euro to Australian dollar EUR/AUD closed at 1.75 today. There is no clear sign of bottoming yet. Sustained trading below 1.75 will raise the chance of larger reversal and pave the way to 1.60/65 support zone. Nevertheless, break of 1.81 resistance will suggest that the pull back has completed. Intraday bias will be turned back to the upside for retesting 1.97 high, In the bigger picture, up trend from 1.16 is in progress and further rally would be possibly to 161.8% projection of 1.16 to 1.65 from 1.35 at 2.17. Otherwise, outlook will stay bullish even in case of deep pull back, reported by Action Forex.
Manny Pacquiao, famous Filippino boxing champion, is preparing for his fight to become the new President of Philippines after his party's nomination to be their presidential candidate at a political convention in Quezon City on September 19. Read on to know more about who he is.
HONG KONG SAR - Media OutReach - 24 September 2021 - Finetic, a Hong Kong-based intelligent stock selection and investment education platform has developed its own AI-assisted investment analysis system, which provides weekly picks of quality stocks in major global markets, including Hong Kong, China and the U.S.
By Sep. 23, all dragon fruits from Vietnam had been exported to China via the Mong Cai International Border Gate in Quang Ninh province, after authorities from the Guangxi Zhuang Autonomous Region’s Dongxing city had agreed to resume providing custom clearance for these products, following a temporary one-week ban on dragon fruit export upon detecting Sar-CoV-2 on the products’ packages.