AUDUSD Bears Take a Breather after Almost 2-Year Low
AUDUSD could not find enough buyers to overcome the 0.7050 resistance level, with the spotlight remaining to the downside as the steep negative bias is still holding. Encouragingly, however, the RSI and the MACD continue to hold above their recent...
ECB Members Turning More Hawkish. But Do Markets Believe Them?
Governing Council member of the ECB Klaas Knot said that the ECB should raise interest rates in July by 25bps, but a 50bps hike should not be excluded if data suggest that inflation is rising. Money markets immediately jumped to...
Natural Gas Wave Analysis
Natural gas reversed from support level 6.500 Likely to rise to 9.000 Natural gas recently reversed up from the strong support level 6.500, coinciding with the 20-day moving average and the 50% Fibonacci correction of the upward impulse wave (3)...
USD/JPY: Price Rally Stalls at 131.35
After a parabolic rise, USD/JPY registered its first weekly loss on Friday, providing traders the first opportunity to question whether this marks the end to the yen’s misfortune this year. Considering the prevailing uncertainty in financial markets, traders would be...
Crude Oil Remains Imbalanced
Another week of May brings a new decline in Oil. Brent is retreating and hanging around $109.50. A season of active car travel is starting in the US. In this light, demand for gasoline, which is getting more and more...
Weekly COT Report: Metals Continue to Get Hammered
The strong dollar and lockdowns in China have continued to see traders take a bearish stance on metals over the past four weeks. As of Tuesday the 10th of May: Large speculators flipped to net-long exposure on euro futures Traders...
AUDJPY Rebounds Off Cloud’s Floor, Downside Risks Linger
AUDJPY has corrected to the 88.00 handle, which is the 50.0% Fibonacci retracement of the 12-week rally from 80.35 until the 95.73 peak. Despite the price failing to snowball below the support barrier formed by the 50.0% Fibo at 88.00...
EUR/USD Bears May Accelerate on Break of 2017 Kow
The Euro is consolidating within a tight range on Friday after a 1.3% drop previous day, as oversold daily studies warn of price adjustment, which is likely to be limited as overall bearish bias is intact. The pair is on...
AUD/USD: Aussie Posts New Multi-Month Low on Dominating Risk-off Mode
Risk aversion on growing concerns about inflation and slowdown of global growth continues to drive the Aussie dollar lower, after recovery attempts on Wednesday were strongly rejected above 0.70 level, now reverted to strong resistance. Fresh weakness hit the lowest...
GBP/USD Outlook: Cable Bounces after US CPI Data as Markets Digest Results
Cable fell below 1.23 handle after US CPI data came above expectations in April, but dip stayed above new 2022 low (1.2260) posted on Monday and subsequent bounce pushed the price to the mid-point of the near-term range which extends...