NZDUSD Wave Analysis
NZDUSD reversed from resistance zone Likely to fall to support level 0.6830 NZDUSD currency pair recently reversed down from the resistance zone located between the round resistance level 0.7000 and the upper daily Bollinger Band. The pair just broke the...
USD/JPY Outlook: Bulls Tighten Grip and Look for Retest of 2022 High
The USDJPY continues to trend higher and extend uninterrupted recovery from a higher base at 121.27 (Mar 30/31) into sixth straight day, on track for the fifth consecutive strong weekly gains. Today’s acceleration cracked pivotal Fibo resistance at 124.19 (76.4%...
Dollar Strong on Rising Yields, Canadian Dollar Rises Slightly after Job Data
Canadian Dollar rises slightly after solid job data, but Dollar is also firm. The greenback is on track to end as the strongest one for the week, with help from extended rally in treasury yields. On the other hand, Sterling...
Pound Retreats ahead of Dollar; Could Fall to 1.2500
The US dollar works its way up against European currencies, including the British Pound. After a corrective bounce from March 15th to the 23rd, GBPUSD has returned to the downside. Most worryingly, this decline is coming very evenly. It is...
USDCAD Struggles to Surpass 38.2% Fibo Around 1.2600
USDCAD created an impressive bullish rally after the rebound off the 50.0% Fibonacci retracement level of the up leg from 1.2000 to 1.2960 at 1.2485 and is now struggling to surpass the 38.2% Fibonacci of 1.2595 and the 200-day simple...
Euro Soft in Quiet Market, CAD Awaits Job Data
Overall, the markets are rather steady so far in the last trading day of the week. Major Asian indexes are treading water. That followed a late rebound in US markets overnight. Euro weakens mildly and remains the worst performer for...
GBPUSD Elliott Wave : Forecasting The Short Term Path
Hello fellow traders. In this technical blog we’re going to take a quick look at the Elliott Wave charts of GBPUSD. The pair has given us nice trading opportunity recently. We have been selling the rallies at 1.3298-1.3348 area as...
Stock futures rise slightly following two-day Fed sell-off
Stock futures rose Thursday as the market tried to recover from back-to-back losing sessions, while traders digested the Federal Reserve’s plans to tighten monetary policy. Futures on the Dow Jones Industrial Average rose 39 points, or 0.1%. S&P 500 futures...
Fed officials plan to shrink the balance sheet by $95 billion a month, meeting minutes indicate
Federal Reserve officials discussed how they want to reduce their trillions in bond holdings at the March meeting, with a consensus around $95 billion, minutes released Wednesday showed. Officials “generally agreed” that a maximum of $60 billion in Treasurys and...
AUDUSD’s Bullish Bias Intact Despite Pullback
AUDUSD is resting on the 0.7531-0.7555 support band that includes the mid-Bollinger band after retreating from its nine-and-a-half-month high of 0.7661. The advancing simple moving averages (SMAs) are endorsing the uptrend that began at the beginning of February. Meanwhile, the...