USDJPY Sell The Rally
The US dollar is trapped in a period of price consolidation against the Japanese yen currency, ahead of the release of today’s CPI inflation number from the United States. A bearish head and shoulders pattern appears to be forming across...
XAUUSD $1,915 Must Break
Gold is still struggling to overcome the $1,900 resistance level in mid-week trading as market participants await the US CPI inflation later today. The four-hour time frame shows that bulls must break the $1,915 level soon or the price of...
USD/JPY: Dollar Finds Ground after Post-NFP Fall; US Inflation Data in Focus
The dollar regained traction on Tuesday after strong fall in past two days, sparked by softer than expected US jobs data, found footstep at 109.20 zone (Fibo 38.2% of 107.47/110.33/ converged 30/55DMA’s). The pullback from new two-month high at 110.33...
EUR/USD Trading Zone Is Defined
The EUR/USD is in the middle of a trading range. We could see a bounce from the bottom and also from the top. W H3 has a confluence with 88.6 and D H3. 1.2206 zone is where we expect the...
Market Morning Briefing: Aussie Has Risen Well From 0.7650 Over The Last 2-3 Sessions
STOCKS Equities remain stable and are positive overall. Dow can rise to 35000 – the upper end of its 33500-35000 range while it sustains above 34500. DAX can rise to 15800-16000 while above 15600. Nikkei can rise to 29500-30000 with...
Currency Pair of the Week: EUR/CAD
If the BOC continues with tapering while the ECB remains dovish, EUR/CAD may have some volatility this week! The ECB meets on Thursday for their June Interest Rate Decision meeting. Two big issues for the committee to discuss will be...
GBP/USD Outlook: Cable Loses Traction As US Rate Talks / Rising Virus Cases Offset Positive Post-NFP Tone
Cable is standing at the back foot at the start of the week, following multiple failure to sustain break above 1.42 barrier and dollar regained traction on comments from Fed Treasury Secretary Yellen over the weekend, after it was deflated...
EUR/USD Faces Uphill Task, Dollar Consolidates
Key Highlights EUR/USD failed to clear the 1.2250 resistance and corrected lower. It broke a major bullish trend line forming with support near 1.2175 on the 4-hours chart. GBP/USD is still holding gains above 1.4100. The US nonfarm payrolls increased...
Bank of Canada to Stay on Tapering Path But No New Action This Week
The Bank of Canada (BoC) was the first central bank to slowly sail away from its super accommodative policy settings in late April, citing the rapid improvement in fundamentals and the brighter economic outlook in the years ahead. While investors...
Silver Fakes Downside Break of Bullish Channel’s Lower Band
Silver is currently pushing up against the fairly neutral 100- and 50-period simple moving averages (SMAs), after buying interest picked up around the 200-period SMA at 27.15, just beneath the lower band of the bullish channel. The 200-period SMA has...
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