Day: March 9, 2020

March 9
2020

Euro Inches Higher on Coronavirus Fears and Global Equities Sell-Off

The euro today traded in a wide range against the US dollar with a slightly bullish bias as markets reeled from the spreading coronavirus outbreak and the crash in oil prices. The EUR/USD currency pair today traded with a bullish bias as bears fought for control amid a major sell-off in global equity markets. The EUR/USD currency pair today traded in a sizeable bullish range marked by a high of 1.1495 and an opening low of 1.1355 and was within this […]

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March 9
2020

Japanese Yen Soars As Investors Flee to Safe-Haven Assets

The Japanese yen is soaring against multiple currency rivals to kick off the trading week as investors are fleeing to traditional safe-haven assets amid the market crash. With the major leading stock indexes worldwide posting steep losses, traders are buying the yen, despite the disappointing economic data. Will the yen be the best performing currency in the first quarter? While Covid-19 is still lingering in the background, the main headline at the opening […]

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March 9
2020

AUD/USD Plunged to 0.63 and Recovered. What Now?

The Australian dollar versus the US dollar currency pair depreciated strongly. Will the recovery last? Long-term perspective After confirming the double resistance area marked by the levels of 0.7055 and 0.7013, respectively, the price formed a head and shoulders pattern that favored a return inside the descending channel. Once back in the channel, the bears pushed the price lower and lower, disengaging the supportive role of 0.6700 and piecing the 0.6500 psychological level. But the 0.6500 was backed […]

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