Euro Lower after Inflation Data, Dollar Pare Losses ahead of Trump-Xi Meeting
The forex markets are generally staying in familiar range as traders turn cautious ahead of G20 summit and, of course, the highly anticipated Trump-Xi summit. There are rumors flying around on whether there will be a deal of no deal....
EURCAD Shows Strength But Outlook Still Negative
EURCAD is looking more positive over the last couple of days as prices have climbed back above the 20- and 40-simple moving averages (SMAs) in the daily timeframe. The rebound on the 38.2% Fibonacci retracement level of the upleg from...
EURGBP Remains On Offensive With Further Recovery Threats
EURGBP remains on offensive with further recovery threats. On the downside, support stands at the 0.8900 level where a violation will turn focus to the 0.8850 level. A break below here will aim at the 0.8800 level. On the upside,...
GBPUSD Struggling With 1.2800 Resistance Level
The British pound is trading back towards the 1.2800 resistance level against the US dollar after sellers failed to move price below key trendline support, at 1.2750 level. The next short-term directional move in the GBPUSD pair will likely come...
EURUSD Trading Under Trendline Support
The euro currency is trading lower against the US dollar, after breaching trendline support during the European trading session. Failure to once again break the 1.1400 resistance level prompted the move lower, with short-term sellers taking control. The EURUSD pair...
Facebook Stock Rebounds Off Two-Year Lows, But Still Negative
Facebook’s stock saw a dramatic collapse after touching an all-time high of 218.44 in late July, falling below its 50- and 200-day simple moving averages (SMAs) to find support near the two-year low of 128.00 on November 20, and subsequently...
Amazon Stock Struggles Below 200-Day SMA In Near Term
Amazon stock price rebounded after touching a seven-month low on November 20, however it still trades below the 200-day simple moving average (SMA). Having a look at the momentum indicators, they are giving mixed signals. On the one hand the...
Fed’s Kashkari says rates should not go up when job creation is strong and inflation is tame
Minneapolis Federal Reserve President Neel Kashkari told CNBC on Friday that central bankers should not be raising rates while job creation continues to be strong and inflation remains tame. “For the three years since I’ve been at the Fed, we...
USD/JPY Outlook: Thursday’s Hammer Suggest Pullback Might Be Over, G20 Summit Would Provide Stronger Direction Signal
Firmer tone on Friday increases hopes of recovery as Thursday’s strong downside rejection left hammer candle, signaling that two-day pullback might be over. Dip was contained by 10SMA (113.15) and subsequent bounce resulted in daily close above 20SMA (113.38) on...
Elliott Wave Analysis: EURUSD Update
EURUSD has turned nicely higher recently from the 1.127 level which was quite expected as we were tracking a minor pullback labelled as wave 2. Current rally we now labelled as start of a new, five-wave cycle which can unfold...
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