Market Morning Briefing: Aussie Has Dipped On Fall In Copper Prices
STOCKS Dow has to sustain above 33000 to see an extended rise to 33450-33500 before a reversal. Else a fall can happen from here itself. DAX is at its crucial resistance which we expect to hold and drag the index...
The Rise of the US Dollar and Yields into Month/Quarter End
In our Week Ahead for last week, we highlighted the daily US Dollar Index (DXY) as the Chart of the Week. We noted that price had broken out of a flag pattern on the daily timeframe and was heading towards...
USD/TRY Outlook: Turkish Lira Falls Further On News From CBRT/Stronger Dollar
USDTRY rose to one-week high on Tuesday and is on track to fully retrace a partial recovery from last week’s 8.5015 high. Lira remains under increased pressure since the most recent shock after President Erdogan replaced the governor of the...
GBP/USD: Here’s Why Recovery Won’t Be Easy
Key Highlights GBP/USD is correcting higher from 1.3670 and it climbed above 1.3750. A crucial bearish trend line is forming with resistance near 1.3880 on the 4-hours chart. EUR/USD is still facing an uphill task near the 1.1840 and 1.1850...
XAU/USD Outlook: Gold Drops 1% as Stronger Dollar and Economic Recovery Hopes Dent Demand
Spot gold accelerated lower on Monday, losing around 1% in early US trading, as demand for safe-haven yellow metal was hit by stronger dollar and rising hopes for fast global economic recovery. Fresh weakness generated strong bearish signal on break...
Gold Tiptoes Sideways As Positive Impetus Fades
Gold is currently tiptoeing sideways after its recent bounce off the critical support base of 1,660-1,682, where it produced a nine-month low of 1,676. The falling 50- and 100-day simple moving averages (SMAs) are safeguarding the short-term bearish picture and...
Yields and Yen: A Negative Relationship
Yields and Yen are not friends. They actually have been running away from each other lately. However, this dysfunctional relationship has led to some nice profits for bond and Yen traders. With the benchmark US Treasury yield trading up at...
USDCHF Spikes to 0.9417 But Struggles to Beat 123.6% Fibonacci Extension
USDCHF is tackling the 0.9414 level, which happens to be the 123.6% Fibonacci extension of the down leg from 0.9375 to 0.9213. The soaring simple moving averages (SMAs) are nurturing the positive structure, while the Ichimoku lines are reflecting a...
AUD/USD: The Huge Head-and-Shoulders Pattern that Every FX Trader is Watching
As we noted in yesterday’s analysis of EUR/USD, the US dollar has been on tear over the last month, reversing its trend of relative weakness over the previous three quarters. The recent moves have flipped the technical bias in favor...
US 30 Index’s Gains Curbed by 32,800 Mark and Ichimoku Cloud
The US 30 stock index’s (Cash) recently found foothold at the 32,068 level has elevated its price into the vicinity of the 50-period simple moving average (SMA). In spite of this, instantly limiting additional price gains is the 32,800 barrier...
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