US 30 Stock Index Looks For A Make-Or-Break Point
The US 30 index (cash) is nosing around for fresh bullish traction near the four-month old restrictive line at 30,800 after topping twice around its new record high of 32,252. A clear close below that floor, where the surface of...
EUR/GBP Outlook: Bears Pressure Key Support And Look For Strong Signal On Close Below Weekly Cloud Base
Bears are taking a breather above new multi-week low at 0.8865 (the lowest since Nov 11) following a steep fall in past six days. The Euro lost traction and was additionally pressured by political crisis in Italy, while sterling remains...
EUR/USD Bearish Zigzag Pattern Has Target At 1.20
EUR/USD is breaching the 144 ema support zone. This indicates bearish pressure. A breakout could confirm the decline in wave C (pink). The EUR/USD needs to push below the support trend line (green). This confirms the bearish break and ABC...
NZD/CAD 4H Chart: Decline Likely To Continue
The New Zealand Dollar has declined by 141 pips or 1.52% against the Canadian Dollar since January 6. The currency pair breached the 50-, 100– and 200– period SMAs during this period. All things being equal, the exchange rate is...
Muted Reaction To $1.9Tn Stimulus
Biden’s long-awaited announcement prompts risk-off. Markets wary of hikes to corporate taxes, minimum wage. Fed’s continued support to limit Gold’s downside. Asian stocks are mixed while US futures are pushing lower, even after US President-elect Joe Biden unveiled his $1.9...
Euro Stays Weak, More Downside Before Weekly Close
The forex markets are generally staying in tight range in Asian session today. Dollar is mildly higher even though Fed chair Jerome Powell further talked down stimulus removal. Yen is also strengthening while commodity currencies turn slightly softer. For the...
USD/JPY Steadies Above 103.50, EUR/USD Extends Losses
Key Highlights USD/JPY climbed higher above the 103.50 and 104.00 resistance levels. EUR/USD extended its decline below the 1.2150 support zone. Crude oil price consolidating gains, while gold price is still well below $1,900. The US Retail Sales figure (to...
Powell sees no interest rate hikes on the horizon as long as inflation stays low
Federal Reserve Chairman Jerome Powell affirmed his commitment to keeping interest rates low for the foreseeable future even as he expressed hope for a strong economic recovery. “When the time comes to raise interest rates, we’ll certainly do that, and...