Dollar trades cautiously ahead of Fed decision Yen extends slide despite fresh intervention warnings Pound slides after lower-than-expected UK CPI data Wall Street ends in the red as investors turn to Fed Will the Fed add fuel to the dollar’s engines? The dollar continued trading in a cautious manner, gaining some ground only against the […]
EURUSD continues to exhibit low volatility ahead of today’s Fed meeting It tested the May 31 low and bounced higher but remains below the 1.0720 level Bearish sentiment lingers but the SMAs’ convergence points to an imminent strong move EURUSD is hovering below the 1.0720-1.0727 area as market participants are preparing for today’s significant Fed […]
NZDUSD halts decline at a fresh 9-month low of 0.5858 Hovers around 61.8% Fibonacci retracement of the 0.5510-0.6535 upleg in the past three weeks Positive momentum is picking up, increasing odds for an upside violation of the recent range NZDUSD had been stuck in a downtrend after posting a five-month high of 0.6410 in mid-July, which resulted […]
CHFJPY consolidates after reaching all-time high Short-term bias looks neutral But downside risk if 50-day SMA doesn’t provide support CHFJPY has been drifting somewhat lower during September as the year-to-date uptrend lost its steam after reaching an all-time high of 166.57 on August 30. The short-term picture is neutral as the RSI has flatlined just […]
Silver trades between trendlines that form a triangle Outlook is neutral, moving averages have flattened Break on either side of triangle will reveal next big move Silver prices continue to trade within a symmetrical triangle pattern, formed by a longer-term uptrend line drawn from the lows of September 2022 and a downtrend line connecting the […]
New Zealand GDP expected to rise in Q2 after technical recession But China woes and high interest rates to weigh on outlook still Kiwi hoping for much needed lift when data is out Wednesday, 22:45 GMT Return to growth after shallow recession As the debate rages about whether major economies such as the United States […]
USDJPY is hovering around its 2023 high ahead of this week’s key events Bulls remain in control, but the stochastic oscillator could signal a reversal soon Intervention rumours could also help the bears stage a move towards 144.99 USDJPY continues to trade at extremely elevated levels as market participants are gearing up for the imminent […]
Bank of England set to raise interest rates this week Mixed economic data, so commentary could be cautious Risks for British pound seem tilted to the downside Decision expected at 11:00 GMT on Thursday Weaker data pulse The United Kingdom economy seems to be losing steam, with recent data releases showcasing a severe slowdown in […]
EURJPY stuck in a tight range during September Hovers just below 15-year peaks supported by 50-day SMA Momentum indicators tilt to the bullish side EURJPY has been in a prolonged uptrend since the beginning of the year, posting a fresh 15-year peak of 159.75 on August 31. Since then, the price has been trading without a […]
Euro rebounds as ECB officials do not rule out another hike Dollar trades cautiously as Fed policy decision looms Wall Street nearly unchanged, gold extends gains ECB policymakers push back on market bets The euro extended its recovery against its US counterpart on Monday, bolstered by more relatively hawkish ECB rhetoric. Just a day after […]
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GBPUSD in a steady decline since mid-July Records consecutive multi-month lows and falls below the 200-day SMA Given that momentum indicators approach oversold conditions, can the price bounce back? GBPUSD has been forming a structure of lower highs and lower lows since its 15-month peak of 1.3141. Meanwhile, the RSI is touching its 30-oversold mark and the […]
NZDUSD halts decline at a fresh 9-month low of 0.5858 Hovers around 61.8% Fibonacci retracement of the 0.5510-0.6535 upleg in the past three weeks Momentum indicators remain tilted to the bearish side, increasing downside risks NZDUSD has been stuck in a steep downtrend since its five-month high of 0.6410 in mid-July. Even though the pair appears to […]
Oil prices continue to rise as tight supply kicks in Rising bond yields put pressure on equity markets Dollar rally takes a breather, helping to boost gold Soaring oil prices spell trouble for euro and yen A pivotal week for global markets kicks off with another sharp spike in oil prices. The non-stop rally has […]
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Gold in a congested technical territory, capped by 50-day SMA A decisive close above the trendline could shift the short-term picture to bullish Momentum indicators endorse latest advance Gold has been edging higher in the past few sessions, rebounding strongly from its drop below the 200-day simple moving average (SMA). Furthermore, the short-term oscillators suggest that bullish forces […]
The US 500 cash index tries to recover from Friday’s decent red candle The bears are trying to increase the bearish pressure by aiming for a lower low The momentum indicators could open the door to a further bearish correction The US 500 cash index is in the green today as the market is anxiously […]
AUDUSD bulls anxiously pushing for a sizeable bullish move The pair remains close to the new 2023 low recorded on September 6. Only the stochastic oscillator supports the muted upleg at this juncture. AUDUSD is experiencing its third straight green candle, but the market is probably taking a defensive stance ahead of next week’s key events. The […]
Bitcoin dropped below 25,000 on Monday for the first time since June Quickly reclaimed 26,000 amid broader risk-on sentiment in markets The formation of a death cross in the daily chart darkens outlook Bitcoin recovers from 3-month low; caution ahead On Monday, the price of Bitcoin declined below the 25,000 mark for the first time […]
Central bank decisions in United States, United Kingdom, Japan, and Switzerland Fed almost certain to hit pause, markets will focus on updated rate projections More scope for surprises from Bank of England and Swiss National Bank instead Fed – mind the dots The central bank bonanza will kick off with the Fed on Wednesday. […]
Euro tumbles as ECB raises rates but hints at pause US dollar hits 6-month high after US retail sales beat Stocks rally on upbeat Chinese data but watch out for triple witching ECB makes surprise hike despite gloomy outlook The European Central Bank raised its key lending rates by 25 basis points on Thursday, taking […]
USDCAD in an aggressive decline from its 5-month high of 1.3693 Bears eye the crucial 200-day SMA Momentum indicators suggest more pain in the short term USDCAD had staged a massive rebound after finding its feet at the one-year low of 1.3091 in mid-July. However, the pair has been undergoing a downside correction since its rejection […]
Gentle downward move continues ahead of key events GBPJPY ready to test a key area as intervention rumours linger Momentum indicators appear to have reset after the strong rally GBPJPY is trading higher today as the market is preparing for next week’s events. The bears are trying to stage a pullback, but such a move […]
NZDUSD pauses decline at a fresh 9-month low of 0.5858 Hovers around 61.8% Fibonacci retracement of the 0.5510-0.6535 upleg in the past two weeks Despite recent bounce momentum indicators remain tilted to the bearish side NZDUSD has been stuck in a steep downtrend since mid-July when it posted a fresh five-month high of 0.6410. Even though […]
Markets post a risk-on session despite hotter-than-expected headline CPI Renewed trade tensions affect electric vehicle manufacturer stocks and Apple Tech giants discuss with US lawmakers over the need for AI regulation Equities gain despite upbeat inflation reading On Wednesday, markets got an updated US inflation report, which was highly anticipated as it would assess the […]
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ECB decision coming up, but is it a lose-lose for the euro? Dollar chops around after US inflation, awaits retail sales Gold extends losing streak despite falling bond yields Will the ECB sink the euro? The highlight today will be the European Central Bank decision, where markets are pricing in a 65% probability of a […]
AUDUSD hit a fresh 10-month bottom of 0.6356 last week Regained some ground but clearly not out of the woods yet Momentum indicators suggest that the rebound could strengthen AUDUSD had been in an aggressive decline following a double top pattern in mid-July, with the pair posting consecutive multi-month lows. Even though the price managed to […]
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EURUSD continues to hover around the 1.0720-1.0727 area Short-term bearish trend remains firmly in place But the stochastic oscillator could open the door to a bullish move EURUSD continues to hover around the 1.0720-1.0727 area as market participants are preparing for the next key events. All eyes are on the stochastic oscillator at this juncture. It […]
