US 30 Struggles For Support
The Dow Jones retreated as major countries imposed curfews ahead of the holiday season. Following a double top under 36200, a drop below 35450 has broken buyers’ attempt to resume the rally. The index is struggling to hold above the...
EUR/USD Outlook: Near-Term Action Extends Sideways Mode but Larger Picture Remains Bearish
The Euro bounces on Monday, reversing over 50% of Friday’s 0.85% drop and bringing the price to the middle of the range that extends into a fifth straight week. Fresh strength partially offsets negative signal from last week’s bearish close...
AUDUSD Ticks Up after Finding Support at 0.7090
AUDUSD found strong support at the 0.7090 barrier after several red sessions. The RSI is also pointing upwards in the negative territory, while the MACD is still falling below its trigger and zero lines. The 20- and 40-period simple moving averages...
Market Morning Briefing: USDCNY Rose To 6.3833 Before Falling Off From There
STOCKS Dow has room to fall down to 35000 before we see a rise again while Dax can bounce from 15500 towards 15900. Nikkei has come down sharply today and is bearish to see a fall towards 27000. Shanghai can...
What Does Surprise BOE and Less Dovish ECB Mean for US Dollar Index (DXY)?
The Bank of England surprised markets AGAIN on Thursday with a hike in interest rates to 0.25%. (Recall at their last meeting they left rates unchanged when a hike was expected.) In addition, the ECB was slightly less dovish as...
NZDUSD Tiptoes Across 76.4% Fibonacci But Downside Risks Remain
NZDUSD has established a foothold consolidating around the 0.6734 level, which is the 76.4% Fibonacci retracement of the up leg from 0.6510 until 0.7464, after a five-week decline from the 0.7217 high. The simple moving averages (SMAs) are starting to...
USDCAD Halts Pullback, But Bearish Jitters Still In Play
USDCAD attempted to touch its nine-month high of 1.2947 from August earlier this week, but its efforts proved fruitless, with the price drifting lower to find support around the 1.2770 level and the red Tenkan-sen line. Signals from momentum indicators...
EUR/USD Outlook: Euro Is Firmer But Still Moving Within Extended Range
The Euro is consolidating under two-week high after being dragged by stronger pound after BoE surprise rate hike and inflated by weaker dollar post-Fed. Near-term action remains within a consolidation range above new 2021 low (1.1186) and lacking clearer direction...
GBP/USD Outlook: Upbeat UK Retail Sales Data Add To Positive Post-BoE Tone
Cable is holding positive tone in early Friday following Thursday’s rally to 1.3374 (three-week high) after surprise BoE rate hike. Upbeat UK retail sales data (Nov 1.4% m/m from 1.1% in Oct and vs 0.8% f/c) provide additional support to...
USD/CAD Trades Sideways
The decline of the USD/CAD appears to have ended, as the rate has been trading sideways in a set range since the middle of Thursday’s trading hours. Namely, the pair is trading between the support of the 1.2765 level and...