NZDJPY Prints Fresh 3-Year High, Short-Term Bias Bullish
NZDJPY gained significant positive traction following the Reserve Bank of New Zealand’s rate announcement, stretching its one-year-old uptrend to a fresh 3-year high of 79.58 after a period of stagnation. Should the price close clearly higher, the rally could get...
Market Morning Briefing: Pound Looks Stable In The 1.42-1.41 Region
STOCKS Equities continue to look broadly positive. Dow remains stable within its 33500-35000 range and is likely to break it on the upside. DAX is attempting to break its 14800-15500 range on the upside as expected and can rise to...
GBP/USD Outlook: Cable Drops on Weak Data, Strong Rise of EUR/GBP Cross
Cable lost traction on Tuesday and fell around 100 pips, deflated by downbeat CBI survey of the retail sector and strong rise of EURGBP cross. Fresh weakness moves focus to the lower boundary of the range in which the price...
USDCAD Eyeballs Recently Reached 6-Year Bottom
USDCAD is consolidating between its freshly found footing at 1.2012, a multi-year bottom, and the high of 1.2144. Nonetheless, USDCAD remains predominantly bearish, with the falling simple moving averages (SMAs) weighing on price improvements. The Ichimoku lines are reflecting the...
AUDUSD Tries to Overthrow Bearish Pressures
AUDUSD is successfully recapturing some of the pair’s recently lost ground but this progress may be short-lived should the price fail to navigate through the resistance zone of 0.7739-0.7762. The fairly horizontal 100- and 200-period simple moving averages (SMAs) are...
Volatility in EUR/USD Will Remain High
On Monday, May 24th, the major currency pair is consolidating at 1.2187. However, the fact that the previous week was pretty volatile suggests that the current week may be just the same. Apart from the US 10-year bond yield, market...
US 500 Index Flashes Green Above 200-SMA
The US 500 stock index (Cash) is conveying a slight increase in positive impetus, after its latest rally off the 4,060 low lifted the price above the 4,151 barrier. The latter happens to be the 23.6% Fibonacci retracement of the...
EUR/USD Outlook: Euro Risks Deeper Pullback after Bulls Repeatedly Stalled
The Euro lost traction on Friday following comments from ECB President Lagarde who said that it is still too early to discuss policy after the end of central bank’s emergency bond-buying scheme and seeing inflation rise this year as temporary,...
Oil Price Outlook: A Major Bearish Trend Line Is Forming With Resistance Near $62.40
Crude oil price started a fresh decline from well above the $65.00 level against the US Dollar. The price broke the $63.50 support zone to move into a short-term bearish zone. The price even declined below $62.50 and the 50...
USDCAD Touches 6-Year Low But Bearish Bias Retains Command
USDCAD is tiptoeing across the 1.2060 support barrier, related to the critical trough from back in September 2017, after the latest downfall ticked to a 6-year low of 1.2012. The sliding bearish simple moving averages (SMAs) are defending the negative...
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