GBP/USD: Cable Falls to Multi-Decade Lows as Downbeat UK Data Add to Negative Outlook
Sterling falls further on Friday and breaks below 1.14 mark vs dollar, trading at the lowest levels since 1985 during the European session. In addition to persisting pressure from strong dollar on expectations for another massive Fed rate hike, pound...
EUR/USD Pair is Now Consolidating Losses Near $1.0000
The Euro started a fresh decline from well above the 1.0150 level against the US Dollar. The EUR/USD pair declined below the 1.0100 and 1.0080 support levels. There was close below the 1.0050 level and the 50 hourly simple moving...
GBPUSD Revisits Pandemic Lows as Bears Persist
GBPUSD corrected forcefully to the downside early on Friday, breaking below the critical 1.1400 pandemic low, where the bears halted the 2022 downtrend on September 7. The MACD is extending its bearish wave below its red signal and zero lines...
USDCAD Storms to Fresh 22-Month High
USDCAD has been in an uptrend since early August when the price encountered strong support at the 200-day simple moving average (SMA). Moreover, in the past few sessions, the technical picture has improved even further, with the price recording a fresh 22-month...
USD/JPY Could Correct Gains, Gold Takes A Hit
Key Highlights USD/JPY seems to be forming a double top near 145.00. It is testing a major bullish trend line at 142.85 on the 4-hours chart. Gold price declined heavily below the $1,680 support zone. GBP/USD is at a risk...
Ethereum Quiet Within a Triangle Range
Ethereum (ETHUSD) has been in the red so far this week, gradually retreating after almost touching the 1,800 round level. Despite the soft negative mood, the short-term bias has not switched to the bearish side yet, as the second most...
Crude Oil Price Could Gain Bullish Momentum, Gold Consolidates
Key Highlights Crude oil price started a steady increase above the $85 resistance. It broke a major bearish trend line with resistance at $87.50 on the 4-hours chart. Gold price is consolidating losses below the $1,720 resistance zone. EUR/USD could...
Cost of Prematurely Crying Victory
Ouch! The US inflation data release didn’t go according to the plan yesterday. The headline figure printed 8.3% inflation in August, higher than the 8.1% expected by analysts, and happily, slightly lower than last month’s 8.5%. Yet, the US food...
Brent is Stressed Again
The commodity market remains extremely volatile. On Monday, a Brent barrel is declining to 91.50 USD and looks unstable. Previously, the market was afraid that Russia will cut down on supply and pushed prices upwards, but risks of stable demand...
UK Inflation to Accelerate; What Does this Mean for the Pound?
The UK has been in the spotlight recently, with Liz Truss becoming the nation’s new prime minister last Monday, and Queen Elizabeth passing away on Thursday. Although the BoE gathering – initially scheduled for Thursday – was postponed for next...