The euro remains stable on Thursday, prior to European Central Bank (ECB)’s policy review. The Australian dollar escalated as strong data reinforce its dovish stance that the Reserve Bank of Australia (RBA) has already reduced interest rates. Most key currencies firmed to fairly slender ranges before key event risks such as the ECB’s policy decision […]
Sony Corp. warned it would now swing a ¥110 billion (or $1 billion) annual net loss for this year until March 31, instead of the ¥30 billion postulated profit more than three months ago. The Japanese electronics company, which has its credit rating placed to junk by Moody’s in January, also disclosed it would sell […]
Aussie boosted by surprise surplus Morning Report: 08.45 London • Markets have a positive edge this morning, helped a surprise surplus in the Australian trade balance. • The AUD/USD is up 0.40%, with the AUD/JPY up 0.34% with the pairs also helped by strong retail sales data. […]
On the second day, Asian stocks took a step forward on the second day as Japanese shares climbs. The Japanese yen tumbled versus major currency peers but silver advanced. The MSCI Asia Pacific Index gained 0.2% by 9:15 a.m. (Tokyo time); Japan’s Topix Index added 0.4%. Austalia’s S&P/ASX 200 Index moved away from three days […]
Gold prices began a rebound from the end of January to rise to a high of 1274.09 on February 5. Gold has since corrected this up-leg by 61.8% and is currently capped just below the 38.2% Fibonacci retracement level at 1260.20. Key support is at the 61.8% Fibonacci level of 1251.90. The 100-period moving average […]
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EUR/USD: This is a bear market in spite of the sideways movement on it and the bulls’ intent. With an expected increase in the bearish pressure, the price should be able to breach the support line at 1.3500 to the downside, going further downward. The EMA 56 is a hurdle to the bulls’ intent. USD/CHF: […]
Thursday is an event-filled day, with the Bank of England and European Central Bank policy decisions due in the afternoon. Ahead of these events the German factory orders numbers will be released, while later in the US session jobless claims will be in focus. The euro slid 0.10% against the dollar during the Asian session […]
In Asia, Japan will release the 30-y Bond Auction, and the US will release some economic data such as US-Trade Balance, US-Unemployment Claims, US-Challenger Job Cuts y/y, US-Prelim Nonfarm Productivity q/q, US-Prelim Unit Labor Costs q/q, US-Natural Gas Storage. So there is a big probability the USD/JPY will move with low volatility during the Asian […]
When the European market opens, some economic news will be released such as Retail PMI, French 10-y Bond Auction, German Factory Orders m/m, Minimum Bid Rate, .The US will release the most important economic data such as the US-Trade Balance, US-Unemployment Claims, US-Challenger Job Cuts y/y, US-Prelim Nonfarm Productivity q/q, US-Prelim Unit Labor Costs q/q, […]
Forex trading has resulted in the EUR/USD pair showing continued weakness recently, and the price fluctuations of this exchange rate have largely been attributed to economic data by market experts. The currency pair dropped to its lowest value in more than two months on Friday, Jan. 31, Bloomberg reported. On this day, the EUR/USD declined […]
Technical analysis and chart setups: 1. The EUR/JPY looks to form a base around 136.00/136.50 levels. This region is also fibonacci 0.618 support for the rally between 131.00 and 145.50. It is recommended to remain long from yesterday, risk remains just below 136.00. 2. Resistance is at 142.00/143.00 and 145.50, while support is spread through […]
Technical outlook and chart setups: 1. The GBP/CHF is expected to resume down swing towards 1.4400 and 1.4000. It is recommended to hold on short positions and also look to sell rallies (intraday – inter day). 2. Immediate resistance is at 1.4940/50, while major is at the 1.5120/30 level, while supports are at 1.4550/60, 1.4400, […]
Daily chart: The USDX continues to find support on the 200-day moving average, so our hypothesis that the USDX try to climb to the resistance level of 81.50 remains standing. However, a consolidation below the 200 SMA, could lead the USDX to fall to the support level of 80.62 and possibly to the 80.11 level. […]
Daily chart: This pair continues to find support on the bullish trend line near the support level of 1.6235. If the pair manages to break this support, it is expected to fall to the level of 1.6146. Furthermore, the GBP/USD is forming a bearish pattern, which could favor the current bearish bias. If this pair […]
Forecast: According to the previous events, the price of the USD/CHF pair has still been moving between 0.9070 and 0.9003. Buy above the 0.8950 price with the first target of 0.9040, it might resume to 0.9105. Stop loss should be set below 0.8925. Sell below the 0.9115 price with the first target of 0.9066; also, […]
Overview: The USD/CAD pair has already formed a strong resistance at the level of 1.1163; furthermore, the same level is coinciding with the ratio of 78.6% Fibonacci retracement levels. Equally important, it should be noticed that a minor support will be set at the level of 1.1025 around the 38.2% Fibonacci retracement levels in H1 […]
To learn more about foreign exchange trading, please visit: https://pepperstone.com/ Currency Analyst Joel Murphy is interviewed on Sky Business News. Recent data out of Australia regarding retails sales and business confidence is discussed along with the upcoming ECB, BOE and non-farm payrolls print out of the US. Related Posts:Analysis of EUR/USD. April 5th. There is […]
The European stocks traded varied at the opening on Wednesday, as investors stayed cautious about the US employment report. The ADP employment data will be released at 1:15 p.m. in London (or 8:15 a.m. EST), and could denote whether the non farm-payrolls report out on Friday will reflect a shift in the US labor market. […]
UBS AG swung sprucely to profit in the 4th quarter, as the Switzerland’s largest bank drives ahead with a bid to run in trimmed-down form. The Zurich-based bank, which was severely affected by the financial crisis six years ago and has battled to form its scandal-prone investment bank into a reliable supplement to its flagship […]
Asian stock markets were aggressively lower on Tuesday, as poor economic report from US hyped the already sour market sentiment. Japan led the region lower, with the Nikkei drop 3.2% in early trading, following a disappointing US economic data from the US smashed stocks in Wall Street. The index is close to a 2% fall […]
The Japanese yen had a weak start in Asia on Wednesday, which moved back from peaks several months now. The emerging markets stabilized and the stocks rallied, while the Australia dollar took a break from a powerful rally. The US dollar jumped to ¥101.63 and the euro incurred to ¥137.33, both going away from 11-week […]
With eToro being the Social Investing Network, we’re always talking about wisdom of the crowd. But what does that actually mean? Is it about doing what your friend is doing? Maybe it’s asking people what they think and working that into your own ideas. Whatever your interpretation of the term, you’re probably right. Let’s take […]
With eToro being the Social Investing Network, we’re always talking about wisdom of the crowd. But what does that actually mean? Is it about doing what your friend is doing? Maybe it’s asking people what they think and working that into your own ideas. Whatever your interpretation of the term, you’re probably right. Let’s take […]
Overview: USD/JPY is expected to trade in lower range after hitting two-month low 100.76 Tuesday.It is underpinned by yen-funded carry trades amid improved investor risk sentiment (VIX fear gauge eased 10.87% to 19.11, S&P rose 0.76% overnight) on rise in U.S. ISM-NY current business conditions index to 64.4 in January from 63.8 in December, smaller-than-expected […]
Bulls have managed to hit fresh highs (around 1.1220) since 2009. Temporarily, USD failed to keep its gains against CAD, and the USD/CAD pair was pushed to the downside, thus indicating weakness of the ongoing bullish momentum. This is manifested in the recent weekly candlestick closures depicted in the chart. The prominent resistance zone is […]
Trading recommendation: The pair is trading above its pivot point. It is likely to trade in a higher range as far as it remains above its pivot point. As far as the price is above its pivot point, a long position is recommended with the first target at 0.8255 and the second target at 0.83. […]
The GBP/USD pair failed to fixate above 1.6600 on January 24. Instead, a strong bearish impulse initiated quickly pushing the pair towards 1.6250 . Around 1.6250, previous multiple tops were established. That’s why a considerable support is expected to be found there. Near 1.6250 extending down to 1.6200, the lower limit of the ongoing bullish […]
Overview: GBP/JPY is expected to trade in lower range. It is underpinned by reduced investor risk aversion and demand from Japan importers. But GBP/JPY gains are tempered by the Japan exporter sales. Daily chart is still negative-biased as MACD is bearish; stochastics stays suppressed at oversold zone, 5 and 15-day moving averages are declining. Trading […]
Fundamental news headlines played a role in currency moves today as some key economic data from all regions were released, including the Eurozone, the UK and the US. The British pound was the main currency that was impacted by data and was one of the worst performing currencies during the European session. Sterling fell against […]
