The euro dipped below $1.32 on Friday morning as investors kept a keen eye on the developing situation in Ukraine. The common currency traded at $1.3182 at 6:15 GMT after U.S. economic data helped the dollar rally.
There are so many trading maxims it’s often hard to ignore them, but there are two that spring to mind considering the daily chart for the Emini NQ this morning.
Brent crude (BNO, quote) oil traded steadily at $102.10 at 8:10 GMT as the global supply glut weighed on prices.
GBPUSD remains in downtrend from 1.7190 (Jul 15 high), the bounce from 1.6536 is likely consolidation of the downtrend.
EURUSD broke above the downward trend line on 4-hour chart, indicating that consolidation of the downtrend from 1.3700 (Jul 1 high) is underway.
The AUDUSD pair rose during the course of the day on Wednesday, but still remains just underneath the 0.9350 level.
Brent crude oil (BNO, quote) was steady on Wednesday morning after briefly rising overnight, but waning demand in both China (FXI, quote) and Europe (FEZ, quote) coupled with declining U.S. crude imports kept a lid on gains.
GBPUSD stays below a downward trend line on 4-hour chart, and remains in downtrend from 1.7190, the rise from 1.6536 is likely consolidation of the downtrend.
EURUSD’s downward movement from 1.3411 extended to as low as 1.3152.
The AUDUSD pair tried to go higher during the course of the day on Tuesday, and did gain a bit.
