The dollar steadied ...from TramPham

29 May 2020, 21:30 · Views 2,453

The dollar steadied against the euro on Wednesday even as the common currency remained supported by news of a proposal for an economic recovery package to help the euro zone region recover from the coronavirus pandemic.

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TramPham

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The US dollar has rallied initially during the trading session on Tuesday, but then broke back down below the 50 day EMA. By doing this, the market looks as if it is eventually going to go looking towards the ¥107 level, something that makes quite a bit of sense considering that the level has been such a magnet for price.

TramPham

The Euro rallied a bit during the trading session on Tuesday, reaching as high as 1.0975 before pulling back a bit, but as you can see we are likely to remain within the range that we have been in for some time. That means the 1.10 level should hold as resistance, just as the 1.0750 level underneath should hold as support.

TramPham

The S&P 500 has rallied significantly during the trading session on Monday, reaching towards the 200 day EMA yet again. This is a market that is trying everything you can to rally but seems to be stuck with the idea of the 3000 handle above.

TramPham

The S&P 500 has rallied significantly during the trading session on Tuesday, breaking through the psychologically and structurally important 3000 level. Ultimately, this is a market that I think continues to see a lot of noise in this area, and it will be quite interesting to see whether or not we break back down below the 3000 level.

TramPham

Gold rose on Thursday after hitting a two-week low in the previous session as the rift between Washington and Beijing over Hong Kong escalated, with prices also supported by central bank and government largesse to cushion the blow from the pandemic.

TramPham