USDCAD Finalizes Symmetrical Triangle Formation
USDCAD had another uneventful week as it was congested within the 1.33 area. According to the RSI and the MACD the pair is likely to continue consolidating in the short-term as both indicators show no clear direction. Yet and more...
GBPJPY on a Sideways Move; 23.6% Fibonacci Appears to be Strong Support
GBPJPY has been on a sideways move for the most part of the week as the 23.6% Fibonacci retracement level of the upleg from 132.48 to 148.85, around 145.00 and the 200-day simple moving average seem to be critical obstacles...
EUR/USD Outlook: The Euro is Recovering after Thursday’s 0.6% Fall
The Euro bounces from new two-week low at 1.1226, posted after Thursday’s 0.6% fall (the biggest one-day loss since 22 Mar). Bears accelerated after weaker than expected Eu members PMI data on Thursday and were boosted by rally of the...
USD/JPY Daily Chart Suggests Pair Approaching Crucial Resistance
Key Highlights The US Dollar settled above the 110.60 and 111.50 resistances against the Japanese Yen. USD/JPY could attempt to surpass a crucial bearish trend line at 112.60 on the daily chart. The US Retail Sales in March 2019 increased...
GBP/USD Outlook: Bears Taking a Breather above Key 200SMA Support
Cable consolidates within narrow range above three-week low at 1.2978 in holiday-thinned Friday’s trading. The pair fell on Thursday, dragged by fresh weakness of Euro on weak EU PMI data, with little help seen from upbeat UK retail sales readings....
Gold Posts Modest Gains After a 5-day Losing Streak
The precious metal was seen posting some modest gains right after prices set a new yearly low for 2019. Gold prices recovered but only slightly. The gains were mostly attributed to the weekly squaring off of positions. Economic data is...
US Crude Turns Flat
Oil prices turned flat at the top end of the rally with price rising only modestly on Thursday. Reports showed that Saudi Arabia’s oil exports fell by 277,000 barrels per day to just under 7 billion bps in February. Supply of crude...
Euro Slips on Soft Flash PMI Data
The euro was down 0.57% on the day on Thursday. The strong declines came as the flash PMI reports for the eurozone came out weaker than forecast. The eurozone’s manufacturing PMI eased to 47.8 while services PMI was at 52.5....
Dollar Index Probing 10-Month Highs After US Retail Sales
FX traders were casting a wandering eye ahead toward a long holiday weekend this morning, but the US retail sales report pulled their attention back to their monitors. After a disappointing -0.2% m/m reading in February, US retail sales surged...
USD/TRY: One to Watch
The long weekend is fast approaching, and traders are slowly winding down. So, I won’t waste your time with a lengthy report. But I just came across this chart of the USD/TRY, which you may want to keep in your...
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