Euro Boosted by Hawkish ECB Lagarde, Gold Rebounding Further
Action Insight Mid-Day Report 5-23-22

Euro Boosted by Hawkish ECB Lagarde, Gold Rebounding Further

Euro rises broadly today after hawkish comments from ECB President Christina Lagarde. But so far, Aussie and Kiwi are even stronger on positive risk sentiment. On the other hand, Dollar and Yen are both trading generally lower. Sterling, Swiss Franc and Canadian are mixed for now.

Technically, Gold also extends the rebound from 1786.65 short term bottom. For now, further rise will remain in favor as long as 1833.22 minor support holds. Sustained break of 55 day EMA (now at 1886.00) will pave the way to channel resistance at around 1933. Current development is in-line with more Dollar weakness for the near term.

In Europe, at the time of writing, FTSE is up 1.19%. DAX is up 0.95%. CAC is up 0.45%. Germany 10-year yield is up 0.0040 at 0.981. Earlier in Asia, Nikkei rose 0.98%. Hong Kong HSI dropped -1.19%. China Shanghai SSE rose 0.01%. Singapore Strait Times dropped -0.83%. Japan 10-year JGB yield rose 0.0002 to 0.240.

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Top Movers | HeatMap | Pivot Points | Pivot Meters | Action Bias | Vol

EUR/USD Mid-Day Outlook

Daily Pivots: (S1) 1.0529; (P) 1.0564 (R1) 1.0595; More...

EUR/USD's break of 1.0641 resistance should confirm short term bottoming at 1.0348, just ahead of 1.0339 long term support. Intraday bias is back on the upside for 55 day EMA (now at 1.0766). Break there will target 1.0935 resistance next. On the downside, however, below 1.0532 minor support will turn intraday bias back to the downside for retesting 1.0348 low instead.

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EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD

EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY

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