Market Morning Briefing: Dollar Index Has Bounced From 90.20
STOCKS Dow and Nikkei continue to hover higher and keep alive the chances of seeing a rise to 32000 and 30000 respectively before reversing lower. DAX has bounced above 14000 but needs to breach 14200 to negate the chances of...
No News is Sometimes Good News: DXY, AUD/USD
Many Asian countries were closed earlier due to the Lunar New Year, resulting in slow trade. The muted session carried over to Europe and now into the US. It’s quiet. Therefore, yesterday’s themes have carried over into today’s US session,...
GBP/USD Consolidates In 1.3850 Area
Since yesterday, the GBP/USD exchange rate has been trading sideways in the 1.3850 area. It is likely that the currency pair could gain support from the 55-hour SMA, as well the weekly R1 near 1.3800. Thus, some upside potential could...
Market Morning Briefing: Euro Has Dipped Slightly After Testing 1.2150
STOCKS Some sign of weakness is emerging in the indices like the DAX, Sensex and Nifty. But the Dow and Nikkei are still keeping alive the chances of seeing some more rise to 31500-32000 and 30000 respectively from current levels...
EURGBP Edges Sideways Around 9-Month Low
EURGBP is consolidating around lower levels not reached in nine months, capped by the 50-period simple moving average (SMA). The Ichimoku lines are reflecting the pause in negative momentum, while the downward sloping SMAs are defending the short-term bearish demeanour...
USD/TRY Outlook: Bears Are Consolidating Above Psychological 7.00 Support
The USDTRY holds in sideways mode above psychological 7.00 support for the third day, following 3.5% drop last week. Larger bears face headwinds as corporate buyers are seen at 7.00 zone, also reinforced by the top of rising thick daily...
Gold Continues To Consolidate: When Will It Finally Break Out?
Over the last six months, the world’s oldest store of value has spent most of its time consolidating between $1800 and $2000, frustrating bulls and bears alike. Notably, this period also includes a resurgence of the worst global pandemic in...
US Dollar ahead of Inflation Data: DXY
As we wrote in the Week Ahead, the US Dollar (vis a vis the US Dollar Index) has been in a tear since early January. The reason seems to be that higher inflation expectations have been creeping into the market,...
EUR/USD Outlook: Acceleration Above The Neckline Generates Initial Reversal Signal
Near-term focus shifts higher as the euro extends recovery in early trading on Tuesday, adding to initial reversal signals (double-bottom on daily cloud base / daily bullish engulfing). Fresh advance moves above the neckline of daily H&S which capped the...
Currency Pair of the Week: USD/MXN
During the first few weeks of Joe Biden’s Presidency, he has put pen to paper signing executive orders on everything from immigration to climate change to wearing masks. However, as mentioned in the Week Ahead, the main focus in his...
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