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18 May 2021

EUR/USD: Poised to extend its advance, eyes on the 1.2349 year high

EUR/USD surged to 1.2233, its highest since last February, maintaining its bullish strength and pressuring the mentioned high ahead of Wall Street’s opening. According to FXStreet’s Chief Analyst Valeria Bednarik, the pair is set to eye 1.2349 amid broad dollar’s weakness.

See: EUR/USD to hit the 1.25 mark by September – Deutsche Bank

EU Gross Domestic Product confirmed at -0.6% QoQ in the three months to March

“The dollar plummeted as US Federal Reserve officials reaffirmed the commitment to maintain their ultra-loose monetary policy, despite rising inflationary pressures.”.

“Europe published a revision of the first quarter Gross Domestic Product, which matched the previous estimate by printing at -0.6% QoQ. The annual reading was also unchanged at -1.8%.”

“The EUR/USD pair could extend its advance once above 1.2240, the immediate resistance level, heading towards 1.2349, the year high.”

 

May 18, 2021

GBP/USD breaks out above its May high to expose the 2021 high at 1.4237 – Credit Suisse

GBP/USD has broken out above its 1.4162/67 recent highs, opening up a move to the 2021 highs at 1.4238 next, then 1.4377, the Credit Suisse analyst te
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May 18, 2021

AUD/USD holds above 0.7800 as focus shifts to Wall Street's opening bell

After registering small losses on Monday, the AUD/USD pair gained traction on Tuesday and climbed to its highest level in six days at 0.7812. As of wr
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