USD/TRY Outlook: Turkish Lira Rises After Surprise CBRT Rate Hike But Advance Is Likely To Be Limited
The Turkish lira rose strongly against the dollar, gaining 20 big figures in two days after Turkish central bank unexpectedly hiked interest rates by 2% to 10.25% on Thursday. The CBRT surprised by tightening policy for the first time in...
GBP/JPY Bullish Reversal Breakout Offers 200 Pips Space
The GBP/JPY made a strong decline but two full daily candles were unable to break below the bottom. The support Fractal could kick start a bullish retracement. But what is the target for the bulls and where could bears regain...
GBP/NZD: Trading With The Trend
Towards the end of August 2020 the GBPNZD pair reversed and has been trending lower since. At EWF we always encourage traders to trade with the trend and not against it. Looking at the 1 Hour chart, GBPNZD was clearly...
Dollar Index Outlook: Growing Concerns about US Economic Recovery Continue to Boost Dollar’s Safe-Haven Appeal
The dollar extends rally into fifth straight day and hits new two-month high on Thursday. Higher than expected US jobless claims added to concerns about the economic recovery already dented by stalled talks about the new package of fiscal support...
Copper Futures Penetrates Ascending Line; Indicators Weaken
Copper futures penetrated the six-month ascending trend line to the downside, falling beneath the 20- and 40-day simple moving averages (SMAs). The RSI indicator is standing in the negative zone, moving sideways, while the MACD oscillator is falling below the...
Gold Loses Its Shine As It Nears A Two-Month Low
The precious metal remains in a bearish move after earlier this week, price failed to hold above the 1900 level. A brief retracement saw prices testing the 1911.50 level. But with no further room to go, gold prices reversed direction. At...
AUD/USD Outlook: Aussie Falls to 1 1/2 Month Low on Stronger Greenback, Expectations of RBA Rate Cut
The Australian dollar extends steep fall into fourth straight day (down 2.9% from last Friday’s 0.7334 high) and falls to 1 1/2 – month low on Wednesday. Strong risk aversion continues to deflate Aussie, with additional negative signals seen from...
EURAUD Rallies Towards a Fresh 1-Month High
EURAUD spiked to a fresh one-month peak of 1.6440 earlier today. The price completed a double bottom formation after breaching the 1.6350 strong barrier, shifting the bias from bearish to bullish. Meanwhile, the stochastic oscillator is trying to post a bearish crossover in...
Siemens Reversal Patterns Appear But Support And Uptrend Indicate Buys
The company Siemens (SIEG) is in a strong uptrend like many other stocks. But the price action in August was calm and sideways. Reversal chart patterns also started to appear. What is the next expected price swing based on the...
EUR/USD Outlook: Bears Crack Pivotal 1.1700 Support Zone, Risk of Stronger Bearish Acceleration on Firm Break
The Euro holds in red for the third straight day after failing to benefit from recent risk sentiment. Fresh risk aversion on rising fears about the second wave of coronavirus and restrictions that governments plan to impose, pushed the single...
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