GBP/USD Surges To R2 At 1.3355
During Thursday’s trading session, the British Pound traded sideways to stay at 1.3200. On Friday morning, the rate was supported by the 55-hour simple moving average to trade at the 1.3264 mark. In regards to the near-term future, most likely,...
USD/JPY Might Reach R1 At 111.95
During Thursday’s trading session, the currency exchange rate was supported by the 200-hour simple moving average to end the trading session at 111.80 as it was expected! On Friday morning, the rate was trading sideways to stay at the 111.65...
XAU/USD Will Surge To 1,300.00
During Thursday’s trading session, the yellow metal passed the 55-hour and the 100-hour simple moving averages to end the trading session at monthly S1. On Friday morning, the 200-hour simple moving averages helped gold to break the resistance levels of...
It Is Too Quiet
Overall, it has been a relatively quiet week in the FX market, especially under the circumstances. Indeed, the lack of fresh news from the ongoing trade negotiations between the US and China has compelled investors to focus their attention on...
Gold Correction Continues On Trade Optimism
Despite the reversal seen near $1312 on Wednesday, prices head back up. Chinese data supported the bearish move as the economy continues to print problematic figures. Positive trade war narratives, however, supported the rejection at $1300. President Trump reported that...
GBPUSD Falls Despite Article 50 Extension
With parliament supporting an extension of the Brexit date, market participants expected to see prices reacting positively to the critical news. Instead, the pair fell from a 9-month high of $1.3380, plummeting over a hundred pips against the dollar. Perhaps...
EURUSD Retreats From 10-day High
Following a 3-day streak, eurodollar finally saw a rejection at $1.1340. German inflation CPI data added a negative sentiment to the pair, which provided investors with sell opportunities. Despite an array of poor US data releases which were expected to...
UK Still Trying To Avoid A Lengthy Brexit Extension
Notes/Observations PM May likely to bring a 3rd version of the Withdrawal Agreement to Parliament in attempt to avoid a long Brexit extension No surprises from BOJ on its rate decision; tweaks some of its assessments regarding exports and output...
Gold To Continue Consolidation In Short Term
Gold is trying to recover Thursday’s losses, which emerged after a failure to surpass the 20-day moving average (MA) but the technical indicators suggest that positive momentum may not pick up steam yet, at least as long as the RSI...
FOMC Preview: Fed to Maintain Dovish Tone and Announce Plan to End Balance Sheet Reduction
At the upcoming FOMC meeting, the members would vote to leave the Fed funds rate target at 2.25-2.5%. We expect reinforcement of the dovish message conveyed in January. The focus is on the plan to complete the reduction of its...
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