The US dollar is slipping against multiple publicly-traded currency rivals to kick off the holiday-shortened trading week and wind down 2019. The buck, which has pared most of its gains this year, failed to take advantage of the myriad of bullish economic data on Monday, creating a cause for concern that the dollar will start 2020 weaker. According to the US Census Bureau, the goods trade deficit narrowed in November for the third consecutive month, […]
Read moreThe euro today rallied against the US dollar extending Friday’s gains as the greenback struggled to keep up with its global peers given the elevated market risk appetite. The EUR/USD currency pair rallied to new multi-month highs setting the single currency on track to finish the year strongly boosted by the positive US-China trade headlines. The EUR/USD currency pair today rallied to a 5-month high of 1.1211 in the Asian session before falling to a low of 1.1182 […]
Read moreAfter such a strong appreciation, the price should correct as a consequence of profit booking. Which are the possibilities that follow? Long-term perspective After it bottomed at the 0.6700 area, the price began an appreciation phase that let very little room for the bears to prove themselves. As pointed out by the price labels, the market printed more and more higher lows and higher highs, respectively, a clear characteristic of bullish dominance. The bears had one last […]
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