Market Morning Briefing: Aussie Looks Bullish For A Test Of 0.63-0.6350
STOCKS Yesterday we had mentioned that the equities will need a close watch to see if they are going to regain strength and move up or will run into a sideways consolidation. The latter is what seems to be happening...
US Dollar Index Recoups Some Strong Losses; Neutral in Very Short Term
US dollar index futures have been recouping some of the preceding days’ losses following the plunge from the three-year peak of 103.80. The price is currently hovering above the 20- and 40-day simple moving averages (SMAs), while the RSI is...
US 500 Index’s Correction Weakens Under 100-SMA
US 500 index (Cash) seems to have lost steam in its pullback from the multi-year low of 2,183.95 dropping the price back to its mid-Bollinger band around the 100-period simple moving average (SMA) at 2,561. The stall in positive momentum...
Market Morning Briefing: Aussie Has Moved Up Slightly But While Above 0.60
STOCKS The strong bounce in equities seems to be losing steam. The movement this week will need a close watch to see if the indices regain strength and move higher again or are we going to enter into a sideways...
BoC Slashes Rates to 0.25%
Yet another Central Bank holds an emergency meeting and cuts interest rates. It seems like it was only a matter of time before the Bank of Canada (BoC) made another inter-meeting move and cut rates by 50bps from 0.75% to...
AUDJPY Bounces off 11-Year Low, But Recovery Fizzles
AUDJPY fell aggressively in recent weeks to touch an 11-year low of 59.85, where the pair found fresh buy orders and subsequently rebounded. That said, the price structure on the daily chart still points to a broader downtrend, something reinforced...
JP 225 Index Flirts With 20-SMA after Sharp Rebound; Bearish Bias Intact
Japan’s 225 stock index barely surpassed the 2019 support-turned-resistance level of 19,239 as the blue Kijun-sen line stood tall. Nevertheless, it managed to close slightly above the 20-day simple moving average (SMA). The RSI and the Stochastics reflect that downside...
EURCAD Undecided after Pullback from 2-Year High
EURCAD is currently trading between the 50-period simple moving average (SMA) and the lower Bollinger band under conditions of evaporated directional momentum. The consolidation of the price comes after a drop from the 2-year high of 1.5991. Backing this neutral...
EURUSD Correction Possible
The euro currency is starting to weaken against the US dollar after the pair found strong technical resistance from just below the 1.1100 level. EURUSD sellers could target the 1.0900 level if the technically important 1.0980 level is breached with...
USDJPY 108.90 Now Key
The US dollar has turned bearish against the Japanese yen currency after breaking below the technically important 110.00 level. A bearish breakout from a rising price channel has now taken place and could see the USDJPY pair falling towards the...
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