#forexbreakfast focus forex (eng)
Last week’s main theme was the renewed strength of the dollar, which reversed the three-week decline with the euro. The context is one of increased volatility, given the soft footprint of the FED Governor Powell. Best appreciation for the dollar in over 13 months. The US macro picture is improving, with consumption improving. A heterogeneous trend for the emerging sector. Recover for Indian rupee and Turkish lira. Mexican and Colombian peso decreased. Attention next week to the Brazilian BC which has pre-announced a further rate hike. Focus also on the Turkish central bank awaiting the meeting. The governor’s statements gave a respite to the Turkish lira.
Euro / Dollar
The upward rush of the Eur / Usd exchange rate stopped near the 1.21 level. The gearbox is now stalled inside a triangle. A break in the figure could give direction to the change. At the moment there are no indications from the oscillators.
Euro / British Pound
A week of low volatility for the exchange, which remained below 0.87. Some profit-taking is likely in the short term. The indications provided last week remain valid.
Euro / Yen
The exchange rate was up for the week, breaking through the resistance at 131.24. Now it is going to test 133.12. The trend is up but from the oscillators, there are signs of excess. On the downside, the supports 131.24 and 130.75 should be monitored.
Euro / Turkish Lira
After hitting new all-time highs at 10.30, the exchange rate settled at 10.20. The trend remains upward even if there are signs of excess from the oscillators. On the upside, the resistance at 10.20 should be monitored, the break of which could push prices up to 10.50. On the downside, the supports at 9.77 and 9.42 should be monitored.