Forex market reviews

On Tuesday the 23^rd of April, the euro dropped to 1.1192 against the US dollar. Trading on the pair closed at the 1.1227 mark, but pressure on the euro remains as a result of the collapse of the Aussie dollar this morning.

The fact that the Easter holidays have just been didn’t mean that the markets were destined to be boring with low volatility. Friday brought us interesting trading opportunities and Monday, with it’s sweet, technical movements, was just as good. Speaking of the fundamentals, we’ve got some old/new attractions on the horizon, with renewed tensions between Iran and the US, which could have a huge impact on the relations with China (oil) and EU (more friendly approach towards Persians). In this environment, USD is gaining strength and on many instruments we got a proper signal to buy the USD.

On Monday the 22^nd of April, trading on the euro closed slightly up. An upwards correction restored the pair to 1.1262. As the Easter holidays continued, currency markets got a boost from developments in the oil market. Brent oil rose by 3.5% to 74.50 USD per barrel. This surge was caused by reports that Washington is set to stop providing exemptions from Iranian oil sanctions. This news also pushed the Canadian dollar up, bringing a few other currencies with it.