GBP Bid as EU May Reopen Withdrawal Agreement
There may still be hope for a soft-landing Brexit as rumors swirled this morning that Boris Johnson’s talks with Germany’s Merkel and France’s Macron at the G-7 meetings may have been enough to persuade them to return to the negotiation...
GBPUSD Bullish Above 1.2195
The British pound is attempting to recover bullish momentum against the US dollar after recently finding technical support from the 1.2210 level. The one-hour time frame clearly shows a bearish head and shoulders pattern, with the 1.2195 level the breakdown...
EUR/USD Outlook: Direction Change after Weak German Data But US-China Talks Still Key Driver
The Euro trades in red on Monday after attempts to extend last Friday’s 0.53% advance failed to clearly break above falling 30DMA (1.1152). The single currency came under pressure after downbeat German Ifo data (Aug 94.3 vs 95.1 f/c and...
WTI OIL Outlook: WTI Rose Over 3% on Renewed Trade Optimism
WTI oil bounced on Monday, inflated by fresh optimism after China announced willingness to restart negotiation. Monday’s rally of 3.3% so far, retraced 50% of three-day fall from $57.11 to $52.95, when oil price was depressed by strong warning signals...
EUR/USD: Two Scenarios Likely
During Friday, the EUR/USD currency pair skyrocketed to the psychological level at 1.1150. During today’s morning, the pair was trading at the 1.1130 level. From the one hand, the exchange rate could trade downwards within the following trading session. However,...
So Much for the Summer Doldrums
Monday is a public holiday in the UK, and the following Monday is a public holiday in the US. Many people take vacation next week, as it is considered to be the “last week of summer”. Markets are traditionally slow...
NZDCHF Moves Sideways after Falling to Nearly 4-Year Lows
NZDCHF bulls denied further downside momentum on August 13 pushing the price back up to 0.6313, which is the 23.6% Fibonacci retracement level of the down wave from 0.6670 to 0.6200, and into a short-term trading range. The 20- and...
USD/JPY Outlook: New China Tariffs Send Dollar Lower on Increased Safe-Haven Demand
The pair fell to daily low at 106.38 after China announced its tariff retaliation, materializing their earlier warning about response to new US tariffs on imports from China from 1 Sep. Dovish comments from Fed’s Bullard, just hours ahead of...
GBP/USD Tests Weekly R1
On Thursday, the GBP/USD exchange rate skyrocketed to the weekly R2 at 1.2274. During today’s morning, the rate declined to the support level—the weekly R1 at 1.2212. If the given support level holds, it is likely, that a reversal north...
USD/JPY Trades At 106.65 Level
During the previous trading session, the USD/JPY currency pair reversed north from the lower boundary of the short-term ascending channel at 106.35. During Friday morning, the pair reached the 106.65 mark. Note, that the exchange rate is supported by the...
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