USDZAR Still Negative, Approaches Downtrend Line
USDZAR continues to print lower lows and lower highs on the daily chart below a downtrend line drawn from the highs of September 6. Hence, the broader picture remains negative for now. For it to turn neutral, it would require...
Canadian Dollar Strikes Back on Stellar Job Data, Dollar Shrugs NFP Miss
Dollar spikes lower in early US session after non-farm payroll report showed lower than expected job and wage growth. That adds to argument that the momentum US job growth has peaked. Nevertheless, there is no follow through selling in the...
EURNZD Rebounds on 14-Month Low, Regaining Ground
EURNZD created a strong negative rally over the last two months, after the pullback on the three-year high of 1.7925. Looking at the very short-term, the price has been moving higher since yesterday finding support on the 14-month low of...
DOW JONES Outlook: Dow Maintains Negative Tone Despite Thursday’s Hammer Ahead Of US NFP Data
Dow is consolidating within narrow range and low-volume trading on Friday, following sell-off on Thursday, triggered by arrest of Huawei CFO. The fall found footstep just ticks above previous low at 24246 (23 Nov) ahead of strong rebound, which eased...
Chancellor Merkel’s CDU Party To Elect New Leader Today
German politics is in flux. The Grand Coalition of the CDU, CSU and SPD parties has weakened following regional elections in October that saw CSU leader Horst Seehofer having to step down. Now, Chancellor Angela Merkel’s party, the CDU, is...
OPEC Deal May Fail Due To Moscow’s Position
OPEC prepared for a further day of talks on oil-production curbs after a summit on Thursday ended with no deal, as Russia resisted the big output cut that Saudi Arabia was demanding. After six-hour meeting in Vienna, Saudi Energy Minister...
US 30 Index Cautiously Negative In Short Run, Neutral Overall
The US 30 index remains on the back foot, having crossed back below its 50- and 200-day simple moving averages (SMAs) in recent sessions. The price structure of lower highs on the daily chart suggests the bias is negative at...
AUD/USD Outlook: Bears Take A Breather After Steep Fall, US Jobs Data Eyed For Fresh Signals
The Australian dollar consolidates after strong fall in past four days (down nearly 2%) which was contained by daily cloud top/55SMA (0.7190). Long tail of Thursday’s daily candle signals that bears might be running out of steam and attempts to...
EURUSD Awaiting Technical Confirmation
The euro continues to consolidate in the middle of its recent trading range against the US dollar, as traders await the outcome of the US monthly jobs report later today. A clear break below the 1.1300 support level may prompt...
GBPUSD Weakening Ahead Of US Job Report
The British pound is back under pressure against the greenback, with price-action turning bearish ahead of the US Nonfarm payrolls job report. A better than expected jobs figure from the US economy may provoke GBPUSD selling towards the 1.2657 level,...
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