GBPCAD Meets Support at 1.7350 Again; Loses Momentum
GBPCAD touched the 38.2% Fibonacci retracement level of the upleg from 1.6590 to 1.7795 around 1.7335 once again, failing to decline further. Currently, the price is developing within the Ichimoku cloud, while the 20- and 40-simple moving averages (SMAs) posted...
AUD/JPY 4H Chart: Bullish Sentiment To Continue
The AUD/USD exchange rate has been trading within a narrow ascending channel pattern since the end of March. Given that the currency pair is being pressured by the 50-, 100– and 200-hour simple moving averages, it is likely that an...
GBP/JPY 4H Chart: Set For Breakout
The British Pound has appreciated about 9.79% in value against the Japanese Yen since the beginning of January. This movement was guided in an ascending channel pattern. Currently, the currency pair is testing a support level formed by the lower...
Fed and Interest Rates Discussion with Tim Duy | Podcast
Key points covered in this podcast – Temporary hiring is a useful indicator for traders to consider – Take bearish monetary policy commentary with a grain of salt – Be wary of the Fed’s ‘phantom inflation menace’ Tim Duy is...
EUR/USD Likely To Decline
Yesterday, the EUR/USD currency pair tried top surpass the support level formed by the 55– and 100-hour SMAs at 1.1299. During Thursday’s morning, the Euro significantly depreciated against the US Dollar. It is likely, that the Euro stays under pressure...
GBP/USD Could Reach 1.3000
On Wednesday, the GBP/USD exchange rate tested the support level—the weekly S1 at 1.3027. During today’s morning, the rate surpassed the given support. Given that the currency pair is pressured by the 55-, 100– and 200-hour SMAs, currently located in...
BOC to Look Through Strong March Inflation and Maintain Dovish Stance
At the BOC meeting next week, we expect Governor Stephen Poloz to reinstate the stance that the next policy rate move would be data-dependent. The latest inflation report surprised to the upside. Yet, the central bank would likely look through...
Eurozone PMIs, Retail Sales from UK, US and Canada Watched
Asian markets turned softer today, ahead of long weekend. Major indices are trading in slightly in red as traders lighten up positions. In the currency markets, Yen is so far the strongest one for today, naturally. Australian Dollar is the...
Elliott Wave View: Further Correction In Gold Expected
After forming a high on February 20, 2019 at $1346.75, Gold has continued to correct lower. The structure of the pullback from February 20 high appears incomplete. This suggests further downside is possible. The decline is unfolding as a zigzag...
China’s sliding auto sales may be obscuring a change in buyers’ tastes
China’s auto industry has hit a soft patch, but there may be a bright spot. Auto sales have fallen in China for nine straight months, including a 5.2 percent decline in March. But electric-powered cars were on display from start-ups...
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