EURUSD’s upward movement from 1.0494 extended to as high as 1.0905.
AUDUSD stays in the descending price channel on 4-hours chart and remains in downtrend from 0.7749.
Financial markets opened in a bit of a panic mode overnight in the wake of Trump’s failure to repeal Obamacare. Stock index futures slumped while the dollar index fell to its lowest since mid-November as the yen and euro both gapped higher. The dollar’s losses steepened after the London open as the GBP/USD climbed to near 1.26 handle and EUR/USD neared 1.0900. European stock indices bounced off their lows slightly.
The EURUSD pair initially fell during the day on Friday, but found enough support at the 1.0750 level to turn these around to form a hammer.
AUDUSD remains in downtrend from 0.7749.
The euro finds itself higher across the board. The EUR/USD has risen above the 1.0800 handle again, the EUR/GBP to 0.8650 and the EUR/JPY was back at 120.00 at the time of writing.
EURUSD remains in uptrend from 1.0494, the fall from 1.0824 is likely consolidation of the uptrend.
GBPUSD’s upward movement from 1.2109 extended to as high as 1.2531.
China’s e-commerce giant Alibaba group on Wednesday announced a plan to set up an e-commerce hub in Malaysia encompassing logistics, cloud-computing and e-financial service to boost trade and e-commerce in the region.
The AUD/USD pair fell initially during the course of the session on Wednesday, but turned around to form a nice-looking hammer.