Week Ahead; Theresa May, Trump, Trade War, Fed
Thersa May created a lot of uncertainty in the market by saying no deal is better than a bad deal. She has nothing on the table and traders knows about this. Minutes from the 4 September monetary policy meeting at...
GBPUSD Outlook: Sterling Slumps on Signals of Brexit Talks Stall
Sterling crashed on Friday, losing 1.45% for the day so far, on dip to session low at 1.3063, driven by signals that Brexit talks stalled. UK PM May said the UK and EU Brexit negotiations are at an impasse after...
US 500 Index Achieves New All-Time High; Holds in Upward Sloping Channel
The US 500 index reached a fresh all-time high of 2939.20 earlier today and has been stuck in a channel titled to the upside since April 2. The bullish picture seems to be overstretched as the RSI indicator is flattening...
WTI Oil Outlook: Fresh Recovery Offsets Downside Risk But Break Of Key Barrier At $71.17 Needed For Bullish Signal
WTI oil regained traction and managed to cover a part of previous day’s losses, sparked by President Trump’s request to OPEC to lower prices. Oil bounced from $70 zone where yesterday’s pullback found support, keeping overall bullish bias intact. However,...
EURUSD Now Testing 1.1800 Level
The euro currency continues to push higher against the US dollar, with price testing the 1.1800 level for the first time since July. The EURUSD pair has looked past much weaker than expected eurozone manufacturing PMI data this morning, with...
USDJPY Moving Towards July High
The US dollar has moved within touching distance of the 113.00 level against the Japanese currency, with buyers now looking towards the July trading high, at 113.17. The USDJPY pair has soared over the rising US ten-year Treasury yield, as...
AUDUSD Outlook: Bulls May Take A Breather Before Attacking Strong Resistance At 0.7312
The Aussie dollar maintains firm bullish tone and rallies for the fifth straight day, to crack psychological 0.7300 barrier and hit new three-week high at 0.7304. Bulls show signs of fatigue on approach to strong barriers at 0.7312 (Fibo 76.4%...
USDJPY Outlook: Bulls Eye Key Barriers At 113.20 Zone, Dip Buying Remains Favored
The pair hit new two-month high at 112.87 on Friday, in extension of broader uptrend, after fresh bullish signal was generated on Thursday’s close above 112.37 (Fibo 76.4% of 113.17/109.77 fall). Bullish techs suggest further gains for eventual attack at...
USDCAD Pauses Downside Pressure, Finds Obstacle At 38.2% Fibonacci
USDCAD dipped aggressively over the previous consecutive three days, which have taken the pair below the 20- and 40-simple moving averages (SMAs). The sharp sell-off, drove the pair below the 23.6% Fibonacci retracement level of the upleg from 1.2060 to...
USDJPY Historical Sellers Are Close
As long as the Bank Of Japan is inactive there is a potential risk of the USDJPY currency pair going downside. In addition, Prime Minister (PM) Abe’s victory at the LDP election is probably priced by the markets. Traders should...
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