Week Ahead – US Jobs Report to Headline Quiet Easter Week
As markets reassess how soon European economies will be able to reopen, the March nonfarm payrolls report out of the United States will likely highlight the widening growth disparity between the two regions. The expected strong US data could help...
Forward Guidance: Canada GDP Data to Highlight Resilience Through Second Wave
Next week’s Canadian GDP report is expected to confirm the economy continued to grow in January, despite virus-containment measures that put a lid on retail sales and kept the hospitality sector sharply depressed. We see little reason to deviate from...
USDCHF Spikes to 0.9417 But Struggles to Beat 123.6% Fibonacci Extension
USDCHF is tackling the 0.9414 level, which happens to be the 123.6% Fibonacci extension of the down leg from 0.9375 to 0.9213. The soaring simple moving averages (SMAs) are nurturing the positive structure, while the Ichimoku lines are reflecting a...
AUD/USD: The Huge Head-and-Shoulders Pattern that Every FX Trader is Watching
As we noted in yesterday’s analysis of EUR/USD, the US dollar has been on tear over the last month, reversing its trend of relative weakness over the previous three quarters. The recent moves have flipped the technical bias in favor...
US 30 Index’s Gains Curbed by 32,800 Mark and Ichimoku Cloud
The US 30 stock index’s (Cash) recently found foothold at the 32,068 level has elevated its price into the vicinity of the 50-period simple moving average (SMA). In spite of this, instantly limiting additional price gains is the 32,800 barrier...
Yen Tumbles Broadly as Risk Appetite Returns
Yen is sold off broadly today as risk appetite returns to the markets. European indices are all trading in black at the time of writing, while US futures also point to a rebound. Additionally, US 10-year yield is also trading...
USD/JPY Outlook: Bulls Pressure Psychological 110 Barrier, Close Above 200WMA is Crucial
Strong bullish acceleration extends into second day and breaks through Fibo barrier at 109.56 (76.4% of 111.71/102.59), on track for eventual weekly close above 200 WMA (109.31) that would add to strong bullish signals. Bulls approach targets at 109.85 (June...
GBPUSD Rises After Finding Support At 7-Week Low
GBPUSD has recorded a stunning rally since yesterday, finding support at the seven-week low of 1.3670. The price advanced above the 20-period simple moving average (SMA) in the 4-hour chart, with the RSI currently increasing positive momentum above the 50...
EUR/USD Extends Decline
The decline of the EUR/USD continued, as the 1.1800 level was passed on Thursday and the rate reached the 1.1762 level. The rate rebounded from the 1.1762 mark and began a recovery. By the middle of Friday’s European trading hours,...
GBP/USD Breaks Pattern
The support of the 1.3670/1.3675 zone was enough for the currency exchange rate to break the channel down pattern. Moreover, by the middle of Friday’s trading, the rate had passed the resistance of the 55 and 100-hour simple moving averages....
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