EUR/USD Outlook: Strong Rebound Extends But Overall Picture Still Bearish
The Euro extends recovery above 1.1200 barrier on Friday, following previous day’s strong bounce from new 2019 low at 1.1107 (vs previous at 1.1111, posted on 26 Apr). Bears faced strong headwinds here and subsequent bounce that left long-tailed bullish...
EURGBP Climbs, But More Upside Needed to Affirm Bullish Outlook
EURGBP staged a mighty rally over the past weeks, crossing above its 50- and 200-day simple moving averages (SMAs) to touch the 0.8840 zone, before retreating somewhat. The near-term outlook seems to have turned positive, though a clear break above...
CADJPY Erases Gains; Remains in Neutral Mode
CADJPY has been finding strong resistance on the 82.60 barrier, falling beneath the 20-simple moving average (SMA) in the daily chart. Since mid-January, the pair has been trading within a narrow range between the 61.8% Fibonacci of the downleg from...
Gold Muted To Fed Minutes
Gold prices did not react much to the release of the FOMC meeting minutes. This comes amid the market sentiment trading mixed. The threat of the trade wars continues to remain a concern among investors. This has kept a lid...
EURCHF Cautiously Negative in Short Term, Neutral Overall
EURCHF retreated in recent weeks, falling below both its 50- and 200-day simple moving averages (SMAs). The near-term outlook has thus turned to cautiously negative, though the bigger picture still seems neutral – with a decisive break either above 1.1475...
USD/CAD Outlook: Upbeat Canada Retail Sales Push Loonie to One-Month High
Better than expected Canada’s retail sales (Mar 1.1% vs 1.0% f/c / Core 1.7% vs 0.9% f/c) pushed loonie to new one-month high at 1.3357. USDCAD’s fresh bearish acceleration broke through 55SMA support (1.3394), former lows (1.3380/76) and pivotal support...
Elliott Wave View: Short Term Support In FTSE
Short term Elliott Wave view in FTSE calls the move lower to 7150.9 on May 13 as wave A. This suggests that the move lower from April 23 is unfolding as a zigzag Elliott Wave structure. Wave B bounce is...
USD/JPY Outlook: Fresh Risk Mode Pushes Dollar through Key Fibo Barrier
The pair accelerated higher in during mid-European trading to hit new 2-week high in early US session on Tuesday. Firm break above key Fibo barrier at 110.31 (38.2% of 112.40/109.02 descend) signaled bullish continuation as fresh rally penetrated rising daily...
GBP/USD Outlook: Pound is Awaiting PM May’s Speech for Fresh Signals
Pound jumped to session high at 1.2745 on the latest news that PM May will make a speech today (15:00GMT) and present the details of Brexit legislation before parliament vote in June. May is expected to present her Brexit plan...
Market Morning Briefing: Pound Has Bounced Back Slightly And While Above 1.27
STOCKS Trump’s move to add the Chinese firm Huawei to the list which requires the US companies to get licence to do business with it is weighing on the global equities. Dow and DAX have fallen and has room to...
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