USD/CAD Bears Could Prevail
The US Dollar traded sideways against the Canadian Dollar on Thursday. The USD/CAD currency pair made about 35 pips or 0.28% move during Thursday’s trading session. As for the near future, the exchange rate is likely to maintain the narrow...
GBP/JPY Breakout Occurs
The British Pound has declined by 85 pips or 0.56% against the Japanese Yen since yesterday’s trading session. A breakout occurred through the lower boundary of an ascending channel pattern during the Asian session on Friday. Given that a breakout...
AUD/USD Decline To Continue
The Australian Dollar declined by 55 pips or 0.72% against the US Dollar on Thursday. The decline was stopped by the 200– hour simple moving average during Thursday’s trading session. The exchange rate could continue to edge lower during the...
BTCUSD Watching Bollinger Bands
Bitcoin remains under pressure on Friday, following bearish news surrounding a potential Bitcoin ETF and Facebook failing to add the top crypto to its holdings. The Bollinger Band indicator is highlighting the next major move could come once the $53,000...
Q1 GDP Surges, But that’s Old news. Where to Now?
The US Advanced GDP for Q1 was 6.4% vs 6.1% expected and 4.3% in Q4 2020. Last year as the pandemic began, the Q1 reading was -5%. (As a reminder, Q2 last year was -31.4% and Q3 was +33.4%!) The...
EURJPY Surges to 31-Month High; Indicators Look Overbought
EURJPY has been creating a sharp bullish rally over the last six consecutive four-hour sessions, climbing towards the 31-month high of 132.23. The technical indicators are suggesting strong positive bias. The RSI is standing in the overbought zone above the 70 level,...
Market Morning Briefing: Euro Rose Sharply Above 1.21 As The Dollar Weakened After The FED Policy Statement
STOCKS Equities continue to trade mixed. Dow seems to be turning around gradually. The level of 33500 is very crucial to watch if it fails to rise past 34000 from here. DAX remains stable and mixed above 15200. The chances...
What to Watch Post-FOMC
Traders will be watching for tweaks in the statement and ANY hints regarding timing of the tapering As on most FOMC days, the overnight sessions are quiet. And although not much is expected from today’s meeting, there may be one...
USDJPY Regains Footing And Tussles 109.00 Handle
USDJPY is struggling to overcome the 109.00 hurdle, where the mid-Bollinger band also resides, after recovering some lost ground from a deep price correction from the 1-year high of 110.96. The soaring 50- and 100-day simple moving averages are endorsing...
Elliott Wave View: Copper Should Remain Supported
Short term Elliott wave view in Copper (HG) suggests the rally from April 1, 2021 low is unfolding as a 5 waves impulse Elliott Wave structure. Up from April 1 low, wave 1 ended at 4.16 and pullback in wave...
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