#forexbreakfast focus forex
The past week has been characterized by a general risk-on climate. Risky assets recovered with safe-haven currencies (dollar and Japanese yen) depreciating. Emerging currencies recovered especially Brazilian Real, Mexican Peso, and Colombian Peso.
The Russian ruble moved against this trend. Unlike other oil currencies that gained from the rebound in oil prices, the Russian currency was affected by the possibility of more severe US sanctions.
The Eur / Rub exchange rate rose above 81.
Week stagnated for the Eur / Usd exchange rate which remained at 1.12 / 1.13.
Good week for the pound. The Eur / GBP exchange rate after hitting the highs for over three months, returning to drop, stopping just above the 0.90 level.
Eur / USD
The lateral trend continued for the whole week. The exchange rate remained fixed between 1.12 and 1.13.
The resistances are set at 1.13 and 1.1429. The supports at 1.1150 and 1.0991.
Eur / gbp
A negative week for the euro/pound exchange rate. After a positive start, it dropped to 0.90.
The resistance at 0.9150 has resisted to the bullish attacks. His failure to break the resistance can be the cause of the subsequent descent.
Eur / Jpy
Second positive week for the exchange rate with the Japanese currency. The exchange rate returned to push toward 121.61. The next resistance level is at 122.61.
Oscillators offer no operational clues. The short-term one is losing strength, so in the next few days, it will likely see a continuation of the bullish movement.