GBP/USD: Sterling Falls to New Multi-year Low after Disappointing Data
Cable accelerates below 1.12 mark on Friday and hit new lowest since 1985, in extension of steep bear-leg from 1.1738 (Sep 13 lower top), which is a part of larger downtrend from 1.4249 (June 2021 peak. The action in Asian...
Yen Settles Down after Wild Ride
It was certainly a day to remember for the Japanese yen on Thursday. USD/JPY traded in a stunning 550-point range, as the yen fell sharply before reversing directions and closing the day up over 1 per cent. Things have calmed...
USD/JPY Dips As Bulls Take Breather, Gold Consolidates
Key Highlights USD/JPY started a downside correction from the 145.90 high. It broke a major bullish trend line at 143.75 on the 4-hours chart. Gold price is still consolidating below the $1,700 resistance zone. The US Manufacturing PMI could decline...
Global September Preliminary PMIs and Economic Outlook
After a week in which a dozen central banks around the world either tightened policy or resorted to currency intervention, the focus is now on the economy. Just how much of the move was priced in, and how much will...
CHFJPY Sinks to 2-Week Low; Bullish Structure Intact
CHFJPY lost almost 2.0% within two hours during Thursday’s European trading hours, plunging to a two-week low of 143.92 before edging slightly higher. The technical oscillators followed the price sharply lower, with the RSI sliding below its 50 neutral threshold...
FOMC Hikes Policy Rate by 75 Basis Points, Signals Many More to Come
The Federal Reserve Open Market Committee (FOMC) lifted the federal funds rate to the 3.0% to 3.25% range and reaffirmed a continuation of its balance sheet runoff. The Fed updated its language stating that “recent indicators point to modest growth...
AUDUSD Wave Analysis
AUDUSD broke key support level 0.6700 Likely to fall to support level 0.6600 AUDUSD currency pair recently broke the key support level 0.6700 (previous monthly low from July, which also reversed the pair earlier this month). The breakout of the...
US Dollar Index Reaches Highest Level Since June 2002 ahead of the Fed
The US Dollar Index (DXY) reached its highest level in over 20 years today rising to an intra-day high of 110.87, eclipsing the September 7th highs of 110.79. With the FOMC meeting concluding today, the central bank is expected to...
Pound Falls to New 37-year Low, Fed Looms
The British pound continues to lose ground. GBP/USD is trading at 1.3436. down 0.33%. Earlier in the day, the pound fell to 1.1304, its lowest level since 1985. Fed expected to hike by 0.75% The Federal Reserve holds its policy...
XAG/USD: The Price in Bearish Correction (b) May Fall to 15.055
XAGUSD seems to be forming a correction wave b of the cycle degree, which is part of the global zigzag. It is assumed that the correction b is a primary triple zigzag Ⓦ-Ⓧ-Ⓨ-Ⓧ-Ⓩ. The first four parts of it have...
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