HomeBlogAplenty Icon PublicationEUR/USD Slides on PMI Reports: Strategic Responses to Market Conditions

EUR/USD Slides on PMI Reports: Strategic Responses to Market Conditions

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Nov 22, 2024

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Euro slumps to near two-year low as PMI data disappoints

Nov 22, 2024

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The euro is sliding in European morning trade as poor PMI data from France and Germany is weighing on the mood in the single currency. The ECB has already highlighted their shift in focus towards the economy and the data today vindicates that. And if anything, it might just add to the case for them...

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USDCAD bounces higher after two days of declines. Prices back above 2022 high at 1.3978

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The USDCAD moved lower over the last two trading days and in the process retested a swing area between 1.39458 and 1.39581. Support buyers leaned against that area (the 100 bar moving average of the 4-hour chart was also in that area), and has pushed the price higher in trading...

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The EURUSD moved to a new high for the week in the early trading hours from the Asian Pacific market, but found willing sellers against topside resistance near 1.06097. That was the high of a swing area between 1.06005 and 1.06097. The price also stayed below its falling 200-hour moving...

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