Week Ahead – Fed to Talk Taper but Stall on Action; Growth Data in Focus amid Recovery Doubts
The Federal Reserve is expected to provide more hints on tapering when it meets next week but may stop short of revealing a timeline. Amidst jitters about the Delta variant, markets could whipsaw if the Fed cites both progress and...
Yen Lower Again as Risk Turned On, Loonie Shrugs Retail Sales
Yen drops broadly today as markets turn back into risk-on mode. It has indeed become the worst performing one for the week. Dollar is also staying to look a bit vulnerable against European majors and commodity currencies. Canadian Dollar is...
Euro Yawns After ECB Meeting
It has been a very quiet day for the euro. In North American trade, EUR/USD is trading at 1.1772, up 0.01% on the day. ECB changes forward guidance On Thursday, the ECB met for the first time since releasing its...
USDCAD Recoils Beneath 200-SMA But Upside Still Active
USDCAD’s seven-week uptrend from the 6-year lows remains structurally intact with shaped higher lows and highs, in spite of the fresh pullback from the peak of 1.2807. Upside sentiment appears to be growing, something also being indicated by the softened...
NZDUSD Is Possibly Bullish
Technical analysis The CCI with the MACD indicates that the uptrend may prevail The price is above MA(50), suggesting a possible movement upwards. What the possible outcomes are In our most likely scenario, the NZDUSD pair may attempt to break...
BTCUSD Still Bullish
Technical analysis The BTCUSD pair is consolidating around the mid-line of the daily Bollinger Band. A break above the mid-line exploses further gains towards the upper daily Bollinger Band, around the $35,250 level. The daily time frame also shows that...
USDCAD Now Bearish
Technical analysis The USDCAD pair is bearish after moving back under its 200-day moving average. The early-week move higher appears to have been a false technical breakout. The daily time frame shows that significant amounts of bearish MACD price divergence...
EUR/USD Outlook: Extended Consolidation To Precede Final Push Towards Key Supports
The EURUSD is holding near the new multi-week low in early European trading on Friday, after strong upside rejection and subsequent drop on Thursday. The short-lived positive impact from ECB resulted in a brief correction which was capped by initial...
GBPJPY Proceeds Higher After Bullish Doji
GBPJPY is pushing for another green day, justifying the bullish dragonfly doji candlestick formed on Tuesday following the bounce on the 4 ½-month low of 148.45 and the 23.6% Fibonacci retracement of the March 2020 – May 2021 upleg. While...
XAG/USD Attempts Rebound
Bullions recover as the US dollar retreats across the board. Silver has so far found buying interest on the daily support level at 24.70. Once again, a divergent RSI in the demand zone foreshadowed the rebound. The break above 25.25...
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