AceTraderFx May 25: Intra-Day News and Views & data to be released today –EUR/USD
Intra-Day Market Moving News and Views
Update Time: 25 May 2021 05:30GMT
EUR/USD - 1.2225.. Euro maintains a firm undertone in Asian trading after yesterday's rise from 1.2173 (New Zealand) to 1.2229 in New York morning as intra-day drop in U.S. yields triggered risk-on trade n led to broad-based usd's selling, however, the single currency later moved narrowly in subdued New York afternoon.
As euro's choppy swings from last Wed's 4-1/2 month peak at 1.2245 is developing into a bullish triangle pattern, suggesting recent upmove would resume after consolidation, above said res would extend gain to 1.2270/80 but loss of upward momentum would cap price at 1.2300.
Order board is pretty thin with bids noted at 1.2205/1.2195 and more below with fairly large stops touted below 1.2160. On the upside, a mixture of offers and stops are tipped at 1.2245/50.
Pay attention to release of key German Ifo business climate index, May forecast is 98.2 vs prev. readings of 96.8, so if actual figure comes in as per street or better, then this would just be the ticket for euro bulls to push price above 1.2245.
On the data front, we have German Q1 GDP at 06:00GMT, then followed by Ifo data at 08:00GMT.
We also have ECB's board member Galhau n then ECB Chief Economist lane speaking at 13:00GMT n 14:00GMT respectively.
Intra-Day Market Moving News and Views
Update Time: 25 May 2021 05:30GMT
EUR/USD - 1.2225.. Euro maintains a firm undertone in Asian trading after yesterday's rise from 1.2173 (New Zealand) to 1.2229 in New York morning as intra-day drop in U.S. yields triggered risk-on trade n led to broad-based usd's selling, however, the single currency later moved narrowly in subdued New York afternoon.
As euro's choppy swings from last Wed's 4-1/2 month peak at 1.2245 is developing into a bullish triangle pattern, suggesting recent upmove would resume after consolidation, above said res would extend gain to 1.2270/80 but loss of upward momentum would cap price at 1.2300.
Order board is pretty thin with bids noted at 1.2205/1.2195 and more below with fairly large stops touted below 1.2160. On the upside, a mixture of offers and stops are tipped at 1.2245/50.
Pay attention to release of key German Ifo business climate index, May forecast is 98.2 vs prev. readings of 96.8, so if actual figure comes in as per street or better, then this would just be the ticket for euro bulls to push price above 1.2245.
On the data front, we have German Q1 GDP at 06:00GMT, then followed by Ifo data at 08:00GMT.
We also have ECB's board member Galhau n then ECB Chief Economist lane speaking at 13:00GMT n 14:00GMT respectively.
