USD/JPY Analysis: Bounces Off 112.00
The USD/JPY made three attempts to pass the 112.00 level before bouncing off it. At mid-day on Friday the rate had declined and almost reached the 111.00 level. If the 111.00 level provides support, the pair might recover. A potential...
GBP/USD Analysis: Respects Hourly SMA
The GBP/USD found support on Wednesday and Thursday above the 1.3400 level. The support zone has been marked on the hourly candle chart. After finding support, the pair surged to the resistance of the 55-hour simple moving average and the...
EUR/USD Analysis: Decline Finds Support
The decline of the EUR/USD resumed on Thursday. However, it immediately found support in the 1.1563/1.1568 zone. The zone held the pair up from 10:00 GMT up to 01:30 GMT, when a recovery appeared to have started. During the early...
GBPUSD Falls Without A Parachute
GBPUSD sliced through some crucial support levels this week, erasing all its gains for the year. The pair rebounded off the 1.3410 support region, but there’s a series of lower highs and lower lows forming since early June. Indeed, the...
AUD/NZD Still In Downtrend But The Price Is Retracing
AUD/NZD is in downtrend and the price has retraced to the POC zone. We might see a mover soon. 1.0440-82 is the POC zone where the price could bounce up or down. If 1.0498 breaks to the upside we should...
EUR/USD Pair Is Now Attempting A Recovery From The 1.1562 Low
The Euro started a fresh decline from well above 1.1700 against the US Dollar. The EUR/USD pair traded below the 1.1650 and 1.1620 support levels. The pair even declined below the 1.1600 zone and settled below the 50 hourly simple...
US Averts Shutdown, But Market Mood Remains Sour
The US government won’t be shut today, as Joe Biden signed a funding bill that should keep the US government agencies running until December 3rd. But that doesn’t resolve the whole debt ceiling issue, nor avert the risk of an...
USD/CAD Bounces Off Support
On Thursday, the US Dollar declined by 88 pips or 0.69% against the Canadian Dollar. The currency pair tested the lower boundary of an ascending channel pattern during yesterday’s trading session. Given that the support level of 1.2580 holds, bullish...
Yen Rebounds on Steep Selloff in Stocks, ISM and PCE in Focus
Yen recovered much ground as US stocks tumbled steeply overnight. Meanwhile, Dollar remains generally firm, as partly supported by resilient treasury yields. Selling in Euro and Sterling slowed a little bit while commodity currencies are turning softer. ISM manufacturing and...