USD/JPY Outlook: Deeper Pullback Expected on Break of 110 Pivot
The pair eases further on Friday following Wednesday’s upside rejection and Thursday’s close in red (the first in seven days) as Japanese traders collected some profits ahead of the weekend. The dollar came under pressure on fresh risk appetite, driven...
WTI Oil Outlook: Oil Prices Jump as OPEC+ Decides to Extend Production Curb for Another Month
WTI oil rose over $2 on Friday and returned above $61 per barrel, lifted by the decision of OPEC+ group to extend production cuts, implemented after oil prices collapsed during the pandemic in 2020, for another month. The world’s top...
USDCAD Loses Steam Around Falling Line
USDCAD is touching the descending trend line after the jump above it in the previous week. The price is returning lower after the pullback off the 1.2645 resistance, remaining within the 20- and 40-day simple moving averages (SMAs). The MACD...
EUR/USD Outlook: Correction Needs to Clear 1.1800 Zone to Resume, US NFP Key Market Driver Today
The Euro is trading within tight range in early Friday, due to holiday-thinned volumes, following a two-day bounce from new multi-month low at 1.1704. Fresh risk mode in the market, driven by signs that US economic recovery (boosted by President...
USD/JPY Surges Above 110.00, Dips Turn Attractive
Key Highlights USD/JPY gained bullish momentum and it cleared the 110.00 resistance. There was a break above two bullish continuation patterns near 108.70 and 109.75 on the 4-hours chart. The US ISM Manufacturing Index increased from 60.8 to 64.7 in...
Dollar Bulls Losing Traction; US NFP Could Spark Deeper Pullback
The dollar extends consolidation into second day as bulls take a breather under new five-month high (93.45). Lower volumes in pre-holiday trading and higher than expected US jobless claims, could cause deeper drop, as reversal pattern is forming on daily...
AUD/USD Outlook: Aussie Falls Further On Disappointing Data, Expectations For Dovish RBA
The Australian dollar was among the top losers of the Asian session on Thursday, as bears extended to new 3 –1/2 month low (0.7531). Disappointing economic data, released overnight, added to negative sentiment, boosted by expectations that the RBA will...
Market Morning Briefing: Aussie Looks Stable
STOCKS Dow is struggling to get a strong follow-through rise above 33000 and looks vulnerable for a fall from here itself without seeing an extended rise. It will have to be seen how the market reacts to the proposed increase...
USD/JPY Pair Moved Further Into A Positive Zone Above The 110.00 Resistance Level
The US Dollar started a strong increase from the 108.80 support zone against the Japanese Yen. The USD/JPY pair broke the 109.00 and 110.00 resistance levels to move further into a positive zone. It even surpassed the 110.50 resistance and...
GBP/USD Outlook: Better Than Expected UK Data Lift Cable But Near-Term Action Remains In A Range
Cable bounces in European trading on Wednesday after data showed the UK economy grew above expectations in Q4 2020 and current account deficit, although widened below forecasts. The recovery of two-day drop so far stays below pivotal barriers provided by...
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