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  • EUR/USD Consolidates Post French Election Surge

    EUR/USD has rebounded since April 11, as a result of the weakening of the dollar. The outcome of the first-round voting of the French presidential election was revealed on Sunday night April 23. As consensus, the top two candidates: the independent centrist Macron and the far-right wing Le Pen, won 23.7% and 21.7% of votes […]

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  • EUR/GBP Tests Major Support Ahead of the French Election

    EUR/GBP has retraced since March 13. Tuesday April 18, EUR/GBP hit the lowest level of 0.8312 since December 5, due to the UK early general election shock. However, the downtrend was held above the significant mid-term major support level at 0.8300 since then. The first-round voting of the French presidential election will be held this […]

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  • USD/JPY Hovers Above Support Ahead of French Election

    Monday April 17, USD/JPY hit the lowest level of 108.12 since November 15, as a result of the strengthening of the yen on markets’ safe haven demand. However, the bearish attempt was held above the 108.00 support line since Monday. On the 4-hourly chart, the 10-SMA crossed over the 20-SMA from below on Wednesday, the […]

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  • EUR/JPY Bulls Broke Major Downtrend Line Resistance

    EURJPY had been trading along the upside short-term downtrend line resistance since March 22, saw a record losing streak. It was caused by the strengthening of the yen pushed up by markets’ risk aversion sentiment. This morning we saw the release of the Eurozone CPI and core CPI for March (YoY), were 1.5% and 0.7% […]

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  • WTI Trades at Mid-Term Major Resistance Zone

    The US EIA Crude Oil inventories figure (the week ending April 7) released on Wednesday, saw the biggest drop in 2.166 million barrels this year. However, the figure failed to push oil prices higher. WTI and Brent crude oil spot retraced around 1%, and 1.13% respectively on Wednesday. The reasons for the fall comprise both […]

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  • USD/CAD Tests Major Support at 1.3300 Ahead of BoC

    The dollar index plunged around 0.31% on Tuesday, falling from the psychological resistance level at 101.00 and hitting a 2-day low of 100.49. The downtrend was held above the support line at 100.50. This morning during the European session, the dollar index saw a rebound. USD/CAD has fallen 0.8% in past one week. The bulls […]

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  • EUR/USD Bulls Broke Psychological Level at 1.0600

    EUR/USD has turned bearish since March 28, as a result of the strengthening of the dollar. It has plunged almost 2% from March 28 to April 10. However, EUR/USD has rebounded since Monday April 10, after hitting a 1-month low of 1.0568. This morning, we saw the release of a series of German and Eurozone […]

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  • AUD/USD Trades at Short-Term Major Support Zone

    AUD/USD has turned bearish since March 30, seeing 6 bearish sessions out of the 7 trading sessions, marking the worst weekly performance this year. The slump was caused by the strengthening of USD and the fall in iron ore prices. The current trend remains bearish, on the 4-hourly chart, the price still trades below the […]

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  • EUR/GBP Edges Up Post Soft UK Data and Carney’s Speech

    EUR/GBP downtrend was held above the significant support line at 0.8500, after hitting a 5-week low of 0.8485 on March 31. EUR/GBP bulls failed to gain the near-term major resistance level at 0.8600 on April 5, as the pressure at the level is heavy. The bulls have regained momentum since this morning, as a result […]

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  • Oil Nears Resistance Ahead of Inventories Report

    Oil prices have rebounded since March 27, trading above the short term 10 and 20 SMAs on the 4-hourly chart. The rally was helped by OPEC’s consideration of a 6-month output cut extension, and a noticeable drop in EIA Crude oil inventories figure (the week ending March 24). Although OPEC member states have executed the […]

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  • EUR/GBP Bulls Retreat Under Resistance at 0.8600

    The European Central Bank president Draghi will make a speech at 15:30 BST today, it will likely affect the Euro and Euro crosses. EUR/GBP has rebounded since yesterday, after hitting a 5-week low of 0.8485. The bulls attempted to test the near-term major resistance level at 0.8600 in early morning, where the 10-day SMA converges […]

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  • EUR/USD Tests 200 SMA Support Ahead of US ISM Data

    EUR/USD has seen a substantial retracement since March 27, after testing the significant resistance level at 1.0900. The price has been trading below the 10 SMA since then, indicating the upside selling pressure is still heavy. On the 4-hourly chart, the price has been holding above the 200 SMA since March 31, where there is […]

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  • USD/JPY Holds Above Support Ahead of US Data

    The dollar index has rebounded noticeably from a 4-and-a-half-month low of 98.85, helped by outperforming US consumer confidence for March, and recent Fed comments. This morning, the dollar index rallies and touches a 1-week high of 100.02. Monday March 27, USD/JPY hit the lowest level of 110.10 since November 18, caused by the slump of […]

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  • GBP/USD Holds Above Significant Support Post Scottish Referendum Shock

    Tuesday evening, March 28, the Scottish parliament has voted by 69 to 59, in favour of holding a second independence referendum. GBP/USD has slumped more than 220 points since Tuesday, from a psychological level at 1.2600, to a 1-week low of 1.2376, breaking the support level at 1.2500. This morning, the bulls have recovered the […]

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  • DAX Bulls Test Near Term Major Resistance

    The DAX index has been oscillated in the range between 11900 and 12100 since early March. Monday, we saw the release of German IFO expectations, current assessment and business climate figures for March, all better than expectations and the previous figures. The outperforming IFO figures provide DAX some support. At present, the trend remains bullish. […]

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  • GBP/USD Tests 1.2600 Ahead of Brexit Triggering

    This morning GBP/USD reached 1.2597, the highest the pair has attained since February 2, helped by the slump of USD caused by Trump’s healthcare bill failure. GBP/USD has been trading above the downside uptrend line support since mid-March. The significant psychological resistance level at 1.2500 was broken today during early Asian session. The bulls are […]

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  • NZD/USD Hovers Around Major Support Prior to US Healthcare Vote

    NZD/USD has retraced substantially since March 21st, as it was nearing the short-term major resistance level at 0.7100. This morning, the bearish momentum was held above the significant psychological support line at 0.7000, where the 10 SMA converges (on the daily chart), the support here is stronger. The 4-hourly Stochastic Oscillator is around 20, suggesting […]

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  • Could USD/JPY Hold Above 111.00 ?

    USD/JPY hit the lowest level of 111.13 since November 23 this morning, breaking the short term major support line at 111.50. USD/JPY has turned bearish since March 15, saw its longest bearish streak since January. In the past week, USD/JPY has retraced about 3.14%. The plunge was caused by the weakening of the dollar post […]

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  • EUR/USD Trades Below Major Resistance at 1.0800

    EURUSD has strengthened since 15th March, breaking the significant resistance level at 1.0700, as a result of the sharp fall of the dollar caused by profit-taking pressure post the Fed interest rate announcement. We saw the release of the German PPI for February (YoY) yesterday, beating expectations and the previous figure. EUR/USD is still trading […]

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  • Can GBP/USD Hold Above 1.2400 ?

    Sterling has seen its third consecutive session of gains last Friday, as a result of the weakening of the dollar and a MPC (Monetary Policy Committee) member, Kristin Forbes, voted to raise rate this month, despite Brexit uncertainty and risks on economy. GBP/USD hits a three-week high against the dollar this morning, testing the significant […]

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  • AUD/USD Trades at Significant Resistance Post a Substantial Surge

    The Fed announced a rate hike by 25 basis points yesterday, with rates in a range of 0.75% to 1%, in line with market expectations. Fed Chair Yellen stated that It is appropriate to gradually remove accommodation, as the US economy is going well. The medium projection for the federal funds rate is 1.4% to […]

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  • GBP/USD Hits 8-week Low as UK Parliament Finally Passes Brexit Bill

    The UK parliament has passed the Brexit bill. The House of Commons overturned the amendments proposed by the House of Lords that guarantees the rights of EU citizens in the UK and gives parliament a “meaningful vote” on the final Brexit deal, by 335 votes to 287. The House of Lords accepted the decision by […]

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  • EUR/USD Retreats After Hitting 1.0700

    The US labour market data for February released last Friday outperformed. Contrasting with the better-than-expected labour market data, the dollar index plunged more than 70 points, hitting a one-and-a-half-week low of 101.16 after the release of the data, due to profit-taking pressure. As markets have priced in the expectations for a March rate hike since […]

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  • NZD/USD Tests Short Term Major Support Level Post Hitting a 9-Week Low

    NZD/USD hit a 9-week low of 0.6889 yesterday. This month we have seen the longest NZD/USD bearish streak for this year. The significant level at 0.7000 was broken on 6th Mar. However, the current price is testing the next short term major support level at 0.6880, where provides a stronger support. The downtrend will likely […]

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  • Crude Oil Inventories Reach a Record High, Oil Prices Hit a 14-week Low

    The US EIA Crude Oil inventories (for the week ending March 3) released yesterday jumped to a record high of an 8.209-million rise, surpassing expectations of a 1.66-million increase and the previous reading of a 1.501 increase. Oil prices plunged on the release of the figure, spot WTI crude oil price broke the short term […]

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  • GBP/USD Hits a 7-week low on Second Brexit Defeat in Lords

    Yesterday the House of Lords has voted against a second Brexit referendum, by 336 votes to 131. The House of Lords also voted on an amendment that would empower the UK Parliament to vote on the final Brexit deal which Theresa May agrees with the EU, by 366 votes to 268. That is to say, […]

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  • USD/CAD Bullish Momentum Wanes

    The Fed Chair Yellen made a speech on 3rd Mar, stating that “We currently judge that it will be appropriate to gradually increase the federal funds rate if the economic data continue to come in about as we expect.” According to the CME FedWatch tool, the probability of a rate hike in March after her […]

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  • EUR/USD Breaks Above Downtrend Resistance Ahead of Yellen’s Speech

    The Fed Chair Yellen will make a speech at 18:00 GMT this evening. Five FOMC members and Fed Chairs will make a speech in turns this afternoon, we can expect that it will cause great volatility to the dollar and the dollar crosses. The Chicago Fed Chair Evans (FOMC voter), and the Richmond Fed Chair […]

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  • GBP/USD Tests Support Post Brexit Defeat in Lords

    GBP/USD hit a 6-week low of 1.2260 this morning. Last night, the House of Lords defied the Brexit bill, by 358 votes to 256, calls for ministers to amend the proposal by ensuring the rights of the 3-million EU citizens living in the UK, within three months of triggering Article 50. The UK Prime Minister […]

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