EURAUD Hovers Near a Key Support Zone
EURAUD came under selling interest yesterday, after hitting resistance at the 200 – period exponential moving average (EMA), fractionally above the 1.4705 barrier, and slightly below the downside line drawn from the July 11 high. Although this keeps the prevailing...
USDCHF Needs Boost from Buyers to Switch the Outlook to Bullish
USDCHF is in the process to post the fifth straight day of gains, following the pullback off the 0.9367 support level. The pair jumped above the 200-day simple moving average (SMA) again and is trying to have a closing day...
XAU/USD: Impulse Structure Hints at Higher Levels
The internal XAUUSD structure suggests a global correction pattern, which takes the form of a cycle triple zigzag. On the current chart, we see the structure of the bearish cycle intervening wave x, which looks completed in the form of...
Dollar Buying Picks Up Momentum, Other Currencies Mixed
Dollar’s rally has finally made some progress overnight and the momentum continues in Asian session. Other currencies are mixed for now with no clear loser. For the week, Aussie and Kiwi are on the weaker side while Euro and Canadian...
Hawkish FOMC comments and Norges Bank hike
Market movers today It will be a very quiet day on the data front today with only UK retail sales and German PPI of interest. The 60 second overview Norway: Norges Bank (NB) goes ‘front-loaded’ and hiked rates by 50bp....
USD/JPY Regains Momentum, Eyes More Upsides
Key Highlights USD/JPY started a fresh increase above the 134.00 resistance. It cleared a major bearish trend line at 134.10 on the 4-hours chart. EUR/USD is struggling below the 1.0200 resistance zone. GBP/USD extended decline and spiked below the 1.2020...
2022 Conservative Party Leadership Election: What’s at Stake for the GBP?
Truss is arguing for looser fiscal policy and tighter monetary policy, a policy stance that has historically supported strength in the underlying currency Earlier this week, we discussed the political backdrop, candidates, and expected policies for traders to watch around...
EURGBP Stays Stuck Between Two Diagonal Trendlines
EURGBP traded higher yesterday, after hitting support at the crossroads of the 0.8385 level and the tentative upside line drawn from the low of low of March 7. Nonetheless, the advance remained limited near the conversion point of all the...
Jobless claims edge lower as Fed looks to cool labor market
Initial filings for unemployment benefits declined slightly last week though they were consistent with a drift higher in layoffs that began in the spring, the Labor Department reported Thursday. Jobless claims totaled 250,000 for the week ended Aug. 13, down...
Dollar Rally Not Making Progress as Dull Trading Continues
The markets are generally rather quiet today, with major pairs and crosses trading inside yesterday’s range, as well as last week’s range. For now, Dollar is the strongest ones, followed by Sterling and then Euro. Australian and New Zealand Dollars...
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