search

An incredible cashback rate!
40% of the spread!

Join Now

All eyes are on whether the euro-dollar pair, which appeared to be breaking below a key level, will maintain its upward momentum

Market Report

  1. homeHOME
  2. Market Report
  3. All eyes are on whether the euro-dollar pair, which appeared to be breaking below a key level, will maintain its upward momentum

All eyes are on whether the euro-dollar pair, which appeared poised to break below a key level, will maintain its upward momentum

07.11.2022

Today's Highlights
  1. Remarks by ECB President Lagarde
  2. Mester (U.S.): Remarks by the President of the Cleveland Federal Reserve Bank

Last weekend, the U.S. dollar became the weakest currency after the October U.S. employment report released on Friday, the 4th, showed the unemployment rate rising to 3.7% from 3.5% the previous month. The USD/JPY pair fell by just under 2 yen, from 148.390 to 146.554.From a technical perspective, the pair broke below a descending pennant that had formed during the downtrend on the 4-hour chart. Since it continued to fall without reaching the 61.8% Fibonacci retracement level drawn from the recent high and low, traders should remain cautious about further downside movement.

European currencies saw limited downside as the Eurozone and German services PMI figures released last Friday matched market expectations; combined with the weakness of the U.S. dollar, the euro/dollar pair rose 200 pips from 0.9755 to 0.9966.Although the EUR/USD pair briefly dipped below the retest level of its downtrend line, it recovered and broke above the recent 4-hour high of 0.9912 with a real body candle; therefore, we will be watching for signs of a potential upward move.

Today’s schedule includes the Swiss unemployment rate at 15:45, German industrial production and the UK Halifax house price index at 16:00, Norwegian manufacturing output at 16:00, Swiss foreign exchange reserves at 17:00, Hong Kong foreign exchange reserves at 17:30, and at 17:40, the Eurozone’sremarks by ECB President Lagarde, at 18:30 the Eurozone Investor Sentiment Index, at 25:30 the U.S. 6-month Treasury bill auction, at 29:00 U.S. consumer credit balances, and at 29:40 remarks by U.S. Federal Reserve Bank of Cleveland President Mester.I’d like to watch the situation carefully to see if the EUR/USD pair, which appeared poised to break below a key level, can maintain its rebound momentum.

桜井 慶介

Author: Keisuke Sakurai

He has over 10 years of experience in FX trading. In the financial sector, he has been involved in investment management focused primarily on foreign exchange markets and has experience as an asset management advisor. Drawing on his extensive experience, he specializes in technical and fundamental analysis.

Previous Article

All Eyes on the Pound’s Direction Following a Sharp Drop on the Back of the BOE’s Policy Rate Decision

Next Article

All eyes are on whether the rising pound will be affected by comments from key figures
alert
Notification Settings
close

If you're using iOS

iOSをご利用の場合

If you're using iOS, tap the "Add/Save" icon at the bottom of Safari and select "Add to Home Screen." Once you've added it to your Home Screen, you can turn on "Receive Push Notifications" as shown above.

Click here for detailed instructions

If you're using an Android device or a PC

Android、PCをご利用の場合

If you're using an Android device or a PC, you can simply turn on "Receive push notifications" as shown above without installing the app. (If your browser asks for permission, please select "Allow.")

You can find instructions on how to add this to your smartphone's home screen below.

Click here for detailed instructions
USDJPY
XAUUSD
BTCUSD
USDJPY
XAUUSD
BTCUSD
Close
Click here for explanations of each notification
arrow Return to Notification Settings
close
Details of Each Notification
line Receive key metrics and announcements

You will receive notifications about key metrics and limited-time promotions. If you turn this feature off, you may not be able to participate in limited-time promotions.

line Received a round number notification

A feature that sends notifications when a price reaches a round number. Receiving these notifications helps traders capitalize on trading opportunities and manage risk, which is why many traders are taking notice.

polygon USDJPY

Notifications are sent for every 100 pips (1 JPY) (e.g., 1 USD = 147 JPY, 1 USD = 148 JPY, etc.). Notifications for the same exchange rate are reset after 3 days (72 hours) have passed.

polygon XAUUSD

Notifications are sent every 500 pips (50 USD) (e.g., $3,000, $3,050, etc.). Notifications for the same rate are reset after 3 days (72 hours) have passed.

polygon BTCUSD

Notifications are sent for every 5,000 USD (e.g., 110,000 USD, 115,000 USD, etc.). Notifications for the same exchange rate are reset after 3 days (72 hours) have passed.

line Received notification of a sudden price fluctuation (sharp rise or fall in the exchange rate)

Receive real-time notifications of price fluctuations for USD/JPY, gold, and Bitcoin. Never miss a trading opportunity, even when you're on the go, and place orders that instantly respond to market conditions.

polygon USDJPY

You will receive a notification when there is a fluctuation of 30 pips (0.3 JPY) or more within 10 minutes (sharp rise or sharp drop). After that, notifications for sudden fluctuations under the same conditions will be suspended for 1 hour.

polygon XAUUSD

You will receive a notification when the price fluctuates by more than 20 USD within an hour (sharp rise or sharp drop). After that, notifications for sudden price fluctuations under the same conditions will be paused for 4 hours.

polygon BTCUSD

You will receive a notification when the price fluctuates by more than 2,000 USD within one hour (sharp rise or sharp drop). After that, notifications for sudden price fluctuations under the same conditions will be suspended for 4 hours.

Return to Notification Settings