Elliott Wave Analysis: EUR/USD Has Room for Higher Prices
The USD is moving lower across the board as gap between FED and other CB is narrowing. We see more and more ECB members and speculation for a potential 50bp hike which is the main reason for stronger euro these...
NZDUSD Increases above 0.6500 in Short-term Bounce
NZDUSD is ticking higher above 0.6500 again after the bounce off the two-year low of 0.6214. The technical indicators are showing more positive signs, as the MACD is advancing above its trigger line in the negative region, while the RSI is...
Oil Possibly Locked in the $100-130 Range for Years
Crude oil has added for the fourth consecutive trading session. However, the rise in quotes has been tempered by comments from the German economy minister, claiming that the EU could agree on an embargo on Russian oil within days. However,...
Dollar and Yen Recovering Slightly in Indecisive Markets
The moves in the financial markets are so far rather indecisive. While US stocks rebounded overnight, Asian indexes turned softer. Dollar and Yen are recovering slightly after yesterday’s selloff. Commodity currencies are retreating. European majors are mixed. While Euro and...
US 500 Index’s Downside Bearing Curbed as Buyers Step In
The US 500 stock index (Cash) is trading near the red Tenkan-sen line at 3,952 following an increase in risk appetite around a recorded 14½-month low of 3,809. The rolling over of the 200-day simple moving average (SMA) is feeding...
Commitment of Traders Report (COT): CHF Bears Begin to Capitulate
Whilst the COT report shows us traders were their most bearish on CHF futures in 6-months, recent events and price action suggest some of those bears have closed out. Commitment of traders (as of Tuesday 17th May 2022): The weekly...
Swiss Franc Won the Week, But Aussie Could Jump on Turnaround Sentiment
It was another roller-coaster week. Swiss Franc ended as the strongest one after SNB Chairman Thomas Jordan surprisingly said it’s ready to act if inflation solidified. But it should reminded that he reiterated the readiness on intervention too. Euro was...
Weekly Economic & Financial Commentary: April Economic Data Show Resilient U.S. Economy
Summary United States: April Economic Data Show Resilient U.S. Economy U.S. retail sales topped expectations in April, while industrial production also grew more rapidly than economists expected. Data on housing starts, home sales and homebuilder sentiment, however, showed tentative signs...
EUR/USD: Improving Techs Point to Further Short-Squeeze, But Fundamentals Still Rule
The Euro is standing at the back foot on Friday, following 1.2% advance on Thursday, but dips were so far limited, adding to positive signal from Thursday’s bullish engulfing pattern. Fresh bullish momentum on daily chart and formation of 5/10DMA...
EUR/USD Pair Moved into a Positive Zone from $1.0420
The Euro started a fresh increase from the 1.0420 support zone against the US Dollar. The EUR/USD pair surpassed the 1.0500 level to move into a positive zone. The price even traded above the 1.0550 level and the 50 hourly...