#forexbreakfast focus forex (eng)
The past week was characterized by the general weakness of the dollar. It Is the worst currency of the week with the yen. The euro/dollar exchange rate returned to the 1.20 zone. The rise in Brent and raw materials benefited all commodity currencies. With the Norwegian krone in the lead. Beyond the English channel, the pound depreciates again. The stalled Brexit talks remain the main driver of the euro/pound exchange rate. According to Von der Leyen’s words, they would like to find an agreement by Friday. Even if numerous edges remain. Mixed trend for emerging currencies. Rising against the dollar and depreciating against the euro. The Turkish lira was quite volatile, given the shares of the Turkish central bank. The best currency since the beginning of the year is the Swedish krona. The central bank defied expectations by announcing a higher than expected QE. The Eur / Sek exchange rate almost reached 10.10, the lowest in more than two years.
Eur / Usd
Excellent week for the Eur / Usd exchange, which broke the resistance at 1.1920. Overcoming it projects the exchange towards 1.2011 and subsequently towards 1.2066. Indicators are being overbought. This could indicate imminent stances or a slowdown in movement. On the downside, the first support remains at 1.1920, followed by that at 1.1814.
Eur / Gbp
Good week for the Eur / Gbp exchange rate that is back near 0.90. However, the exchange remains in a neutral phase. The supports to monitor are the same as last week, 0.8873 and 0.90 as resistance.
Eur / Jpy
Good week also for the Eur / Jpy exchange rate that rose by over 1%. The exchange failed to break out of the resistance at 125.77. The first support to be monitored remains at 123.59, the next at 122.38.