Fundamental

There is a medium-term descending price channel which continues to hold the price lower, but the price action within this is so choppy that it is hard to trade.

The current Oil shock has brutally brought back an old market question: at what level, and above all for how long, does a rise in Oil prices stop being simple geopolitical noise and become a catalyst for a significant Equity sell-off? 

The EUR/USD exchange rate continued its strong downward trend this week. It dropped for three consecutive days, reaching a low of 1.1545, down from the year-to-date high of 1.2080.

EUR/USD stays under modest bearish pressure after posting losses on Wednesday and trades in negative territory at around 1.1550 in the European morning on Thursday.

Gold is struggling below the $5,200 level early Thursday, facing headwinds from rising US Treasury bond yields and the US Dollar (USD) as the conflict in the Middle East escalates.  

Since being rejected from the yearly highs near the 1.2100 mark in late January, the short-term picture for EUR/USD has been steadily deteriorating.