EURAUD Appears Flat Below Ichimoku Cloud
Technical Analysis – EURAUD appears flat below Ichimoku cloudEURAUD has been trading within a consolidation area over the last couple of weeks with upper...
AUDUSD Freezes Putting Pressure on Positive Sentiment
AUDUSD currently looks inactive between the mid-Bollinger band and the 50-period simple moving average (SMA) after pivoting down from a two-month high of 0.6615....
EUR/USD Outlook: Better Than Expected German Data Inflate Euro But Thick Daily Cloud Weighs
The Euro rose to 1.09 handle on Monday, inflated by better than expected German Ifo data (May 79.5 vs 74.2 previous and 78.3 f/c).
German...
EURUSD Loses Battle With 1.0890 And Leaves Sellers In Charge Within Range
EURUSD was again unable to close above the 1.0980 hurdle last week despite touching the 200-day simple average (SMA), with the price pulling back...
EURAUD Appears Flat Below Ichimoku Cloud
Technical Analysis – EURAUD appears flat below Ichimoku cloudEURAUD has been trading within a consolidation area over the last couple of weeks with upper...
Fundamental Analysis
Sunset Market Commentary
Markets
UK Spring Bank Holiday and US Memorial Day reduced traded volumes to scratch today. European stock markets put aside recent Asian worries about China’s...
Technical Analysis
Gold Under Pressure
Gold is retreating a little bit of Monday. The instrument is trading at 1728.60 USD; investors have been selling it for the second trading...
Technical Analysis
AUDUSD Freezes Putting Pressure on Positive Sentiment
AUDUSD currently looks inactive between the mid-Bollinger band and the 50-period simple moving average (SMA) after pivoting down from a two-month high of 0.6615....
Technical Analysis
The Analytical Overview Of The Main Currency Pairs
The EUR/USD currency pair
Technical indicators of the currency pair:
Prev Open: 1.09493
Open: 1.08955
% chg. over the last day: -0.44
Day's range: 1.08707 – 1.09087
52 wk range:...
Technical Analysis
US 500 Finds Roof At 11-Week High, Holds Above SMAs
The US 500 index (Cash) has finally reversed to the upside last Friday after flirting with the 50-period simple moving average (SMA) around 2,906....
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Can the EU Recovery Fund Change the Euro’s Fortunes?
The euro finally found its footing this week, bolstered by a Franco-German plan for a European recovery fund worth half a trillion euros to...
Australia’s Spat With China May Spell Doom for its Economy and the Aussie
Sino-Australian relations sank to a new low this week after China unexpectedly slapped 80.5% tariffs on Australian barley imports, possibly signalling a new front...
A Matter Of When, Not If – Updated Forecasts Of The RBNZ’s OCR And LSAP
We now expect the RBNZ will reduce the OCR to -0.5% in April 2021 (previously November 2020).
We expect that the RBNZ will...
PBOC Pauses in Rate Cutting. Outlook Remains Expansionary amidst Global Demand Uncertainty and Renewed Trade Tensions
PBOC this morning announced to leave the loan prime rate (LPR) unchanged at 3.85%. While this had been widely anticipated, it should not be...
Sunset Market Commentary
Markets
UK Spring Bank Holiday and US Memorial Day reduced traded volumes to scratch today. European stock markets put aside recent Asian worries about China’s...
AUDUSD Freezes Putting Pressure on Positive Sentiment
AUDUSD currently looks inactive between the mid-Bollinger band and the 50-period simple moving average (SMA) after pivoting down from a two-month high of 0.6615....
The Analytical Overview Of The Main Currency Pairs
The EUR/USD currency pair
Technical indicators of the currency pair:
Prev Open: 1.09493
Open: 1.08955
% chg. over the last day: -0.44
Day's range: 1.08707 – 1.09087
52 wk range:...
USDJPY Bullish Above 107.30
The US dollar remains well-supported against the Japanese yen currency as traders continue to buy any dips towards the 107.00 level. Technical analysis shows...
EUR/USD Outlook: Better Than Expected German Data Inflate Euro But Thick Daily Cloud Weighs
The Euro rose to 1.09 handle on Monday, inflated by better than expected German Ifo data (May 79.5 vs 74.2 previous and 78.3 f/c).
German...
USD/JPY Supported By 55- And 100-Hour SMAS
During the previous trading session, the USD/JPY currency pair touched the 200-hour SMA at 107.40. During Monday morning, the pair was trading at 107.75.
Given...
GBP/USD Consolidated At 1.2180
At the end of last week, the GBP/USD exchange rate consolidated at 1.2180. During Monday morning, the rate maintained its consolidation.
Note that the currency...
EUR/USD Pressured BY 55- And 100- Hour SMAS
On Friday, the EUR/USD currency pair declined to the support level—the Fibo 23.60% and the 200-hour SMA at 1.0886. During today's morning, the pair...
NZD/USD Breakout Occurs
The New Zealand Dollar has declined by 39 pips or 0.64% against the US Dollar since Friday's trading session. The currency pair breached the...
USD/CAD Could Decline Today
The US Dollar surged by 94 pips or 0.67% against the Canadian Dollar on Friday. The currency pair tested the monthly pivot point at...
EURAUD Appears Flat Below Ichimoku Cloud
Technical Analysis – EURAUD appears flat below Ichimoku cloudEURAUD has been trading within a consolidation area over the last couple of weeks with upper...
Sunset Market Commentary
Markets
UK Spring Bank Holiday and US Memorial Day reduced traded volumes to scratch today. European stock markets put aside recent Asian worries about China’s...
The Analytical Overview Of The Main Currency Pairs
The EUR/USD currency pair
Technical indicators of the currency pair:
Prev Open: 1.09493
Open: 1.08955
% chg. over the last day: -0.44
Day's range: 1.08707 – 1.09087
52 wk range:...
EUR/USD Outlook: Better Than Expected German Data Inflate Euro But Thick Daily Cloud Weighs
The Euro rose to 1.09 handle on Monday, inflated by better than expected German Ifo data (May 79.5 vs 74.2 previous and 78.3 f/c).
German...
EUR/USD Pressured BY 55- And 100- Hour SMAS
On Friday, the EUR/USD currency pair declined to the support level—the Fibo 23.60% and the 200-hour SMA at 1.0886. During today's morning, the pair...
EUR/JPY Moving Towards 116.50
The common European currency declined by 85 pips or 0.72% against the Japanese Yen on Friday. The currency pair breached the weekly and the...
USD Strengthens As US-Sino Tensions Escalate
The USD seemed to be supported by safe haven flows as the US-Sino tensions escalated in the past few days. The tensions were highlighted...
No Panic But Hong Kong Tensions Keep Markets On Edge
US threatens sanctions on China over Hong Kong security bill as tensions simmer
But optimism from reopening of economies keeps risk aversion in...
EURUSD Loses Battle With 1.0890 And Leaves Sellers In Charge Within Range
EURUSD was again unable to close above the 1.0980 hurdle last week despite touching the 200-day simple average (SMA), with the price pulling back...
EUR/USD Falls Back To Support Level, Suggesting Further Gains
The euro gave back the gains after the 1.1000 level proved hard to breach. This sent the common currency lower.
Price is trading just a...
The Analytical Overview Of The Main Currency Pairs
The EUR/USD currency pair
Technical indicators of the currency pair:
Prev Open: 1.09493
Open: 1.08955
% chg. over the last day: -0.44
Day's range: 1.08707 – 1.09087
52 wk range:...
USDJPY Bullish Above 107.30
The US dollar remains well-supported against the Japanese yen currency as traders continue to buy any dips towards the 107.00 level. Technical analysis shows...
USD/JPY Supported By 55- And 100-Hour SMAS
During the previous trading session, the USD/JPY currency pair touched the 200-hour SMA at 107.40. During Monday morning, the pair was trading at 107.75.
Given...
EUR/JPY Moving Towards 116.50
The common European currency declined by 85 pips or 0.72% against the Japanese Yen on Friday. The currency pair breached the weekly and the...
USD/JPY The Bias Remains Bullish
Pivot (invalidation): 107.50
Our preference Long positions above 107.50 with targets at 107.85 & 108.00 in extension.
Alternative scenario Below 107.50 look for further downside with...
USDJPY Lies Near Ascending Line, Bullish Profile In Short-Term
USDJPY has been developing near the three-week ascending trend line over the last sessions, finding support at the 23.6% Fibonacci retracement level of the...
Japan: Trillions Of Yens
On Friday, the Bank of Japan announced plans to start a new 75 trillion yen lending program in June, to support coronavirus-hit businesses, while...
Daily Technical Analysis
EUR/USD
Current level - 1.0939
The currency pair failed to stay above the 1.0960 support zone and at the time of writing the analysis is trading...
Forex and Cryptocurrencies Forecast
First, a review of last week's events:
EUR/USD. Tensions between the U.S. and China continue, which can not but affect the markets. President Trump said...
Week Ahead: Tensions Heating Up as Summer Approaches
China and the US appear to be on a collision course as tensions escalate. In what originally began as a “blame game” over the...
Sunset Market Commentary
Markets
UK Spring Bank Holiday and US Memorial Day reduced traded volumes to scratch today. European stock markets put aside recent Asian worries about China’s...
The Analytical Overview Of The Main Currency Pairs
The EUR/USD currency pair
Technical indicators of the currency pair:
Prev Open: 1.09493
Open: 1.08955
% chg. over the last day: -0.44
Day's range: 1.08707 – 1.09087
52 wk range:...
GBP/USD Consolidated At 1.2180
At the end of last week, the GBP/USD exchange rate consolidated at 1.2180. During Monday morning, the rate maintained its consolidation.
Note that the currency...
USD Strengthens As US-Sino Tensions Escalate
The USD seemed to be supported by safe haven flows as the US-Sino tensions escalated in the past few days. The tensions were highlighted...
GBP/USD Aims At 1.20 Target After Breakout
The GBP/USD is in a clear downtrend. But price will first need to break the support zone (green line)... Otherwise there is a risk...
GBP/USD Drifts Along Trend Line, But Bottom Likely In Place
The pound sterling is gradually falling back albeit consolidating right near the falling trend line.
The declines were triggered after GBPUSD failed near the resistance...
GBP/USD Bullish Bias Above 1.2160
Pivot (invalidation): 1.2160
Our preference Long positions above 1.2160 with targets at 1.2195 & 1.2210 in extension.
Alternative scenario Below 1.2160 look for further downside with...
Mixed Sentiment In Equities, Sterling Under Pressure As Johnson Faces Tory Revolt In Cummings Affair
Equities kicked off the week on a mixed note amid investors, who are increasingly worried with mounting US-China tensions and rising unrest in Hong...
Crude Oil Price Falls As US Rig Count Drops Again
The euro declined slightly as the market reacted to divisions emerging from Europe about financing the recovery process. That is after Austria, Denmark, Netherlands,...
GBPUSD 1.2075 Support
The British pound faces a pivotal trading week against the US dollar, with the pair desperately needing to bounce higher to avoid a drop...
USD/CHF Rebound Expected
Pivot (invalidation): 0.9705
Our preference Long positions above 0.9705 with targets at 0.9730 & 0.9745 in extension.
Alternative scenario Below 0.9705 look for further downside with...
Week Ahead: Tensions Heating Up as Summer Approaches
China and the US appear to be on a collision course as tensions escalate. In what originally began as a “blame game” over the...
USD/CHF Further Upside
Pivot (invalidation): 0.9690
Our preference Long positions above 0.9690 with targets at 0.9725 & 0.9740 in extension.
Alternative scenario Below 0.9690 look for further downside with...
Swiss Franc Trading On A Weaker Footing This Morning
For the 24 hours to 23:00 GMT, the USD rose 0.72% against the CHF and closed at 0.9707.
In the Asian session, at GMT0300, the...
Swiss Franc Extends Its Losses In The Morning Session
For the 24 hours to 23:00 GMT, the USD rose 0.10% against the CHF and closed at 0.9648.
In the Asian session, at GMT0300, the...
The USD Remains Under Pressure
The US Dollar was bearish against most of its major pairs on Wednesday with the exception of the GBP. On the economic data front,...
USD/CHF The Downside Prevails
Pivot (invalidation): 0.9715
Our preference Short positions below 0.9715 with targets at 0.9675 & 0.9660 in extension.
Alternative scenario Above 0.9715 look for further upside with...
Swiss Franc Reverses Its Losses In The Asian Session
For the 24 hours to 23:00 GMT, the USD rose 0.80% against the CHF and closed at 0.9715.
In the Asian session, at GMT0300, the...
A Couple Of Price Gaps In The USD
The US Dollar was bearish against most of its major pairs on Tuesday with the exception of the JPY. On the economic data front,...
EURCHF Claims Largest Daily Gain In More Than A Year, 1.0652 Next In Target
EURCHF recorded its largest daily gain in more than a year on Monday after repeatedly failing to clear the tough 1.0500 bottom. On Tuesday...
The Analytical Overview Of The Main Currency Pairs
The EUR/USD currency pair
Technical indicators of the currency pair:
Prev Open: 1.09493
Open: 1.08955
% chg. over the last day: -0.44
Day's range: 1.08707 – 1.09087
52 wk range:...
USD/CAD Could Decline Today
The US Dollar surged by 94 pips or 0.67% against the Canadian Dollar on Friday. The currency pair tested the monthly pivot point at...
USD/CAD Under Pressure
Pivot (invalidation): 1.4015
Our preference Short positions below 1.4015 with targets at 1.3970 & 1.3935 in extension.
Alternative scenario Above 1.4015 look for further upside with...
The Weekly Bottom Line: Markets Optimistic Ahead of Memorial Day
U.S. Highlights
Stock markets were in an optimistic mood heading into the Memorial Day weekend, although the economic data continues to be atrocious. Jobless...
Forward Guidance: Rear-View Economic Data in Canada but Focus Forward
The past week continued to highlight some green shoots in economic data for May – not itself surprising given the increasing number of regions/countries...
Week Ahead – US-China Feud to Stay Under Spotlight as Data Takes a Backseat
Virus recovery hopes have gotten a boost after preliminary PMI readings for May rebounded more strongly than expected, underscoring the market optimism. But with...
Canada: COVID-19 Hammers Retail Sales in March
Canadian retail sales fell 10% in March (m/m), the largest decline since data became available in 1991. Statistics Canada also provided advanced estimates...
Canada: Shop Closures Dragged Down March Retail
Retail sales post record 10% decline in March
StatCan advance estimate shows further 15.6% drop in April
Trend toward e-commerce accelerating
Canadian retail sales...
The Analytical Overview Of The Main Currency Pairs
The EUR/USD currency pair
Technical indicators of the currency pair:
Prev Open: 1.09794
Open: 1.09493
% chg. over the last day: -0.26
Day's range: 1.09065 – 1.09573
52 wk range:...
USD Firmer As US-Sino Frictions Continue
The USD strengthened against a number of its counterparts yesterday and during today’s Asian session as the frictions in the relationships between the US...
EURAUD Appears Flat Below Ichimoku Cloud
Technical Analysis – EURAUD appears flat below Ichimoku cloudEURAUD has been trading within a consolidation area over the last couple of weeks with upper...
AUDUSD Freezes Putting Pressure on Positive Sentiment
AUDUSD currently looks inactive between the mid-Bollinger band and the 50-period simple moving average (SMA) after pivoting down from a two-month high of 0.6615....
AUD/USD Breaks Channel Pattern
The Australian Dollar declined by 56 pips or 0.85% against the US Dollar on Friday. The currency pair tested the lower boundary of an...
AUD/USD Under Pressure
Pivot (invalidation): 0.6550
Our preference Short positions below 0.6550 with targets at 0.6505 & 0.6480 in extension.
Alternative scenario Above 0.6550 look for further upside with...
AUD/USD Outlook: The Pair Formed A Low Near 0.6505 And Is Currently Correcting Higher
The Aussie Dollar failed to continue above 0.6600 and started a fresh decline against the US Dollar. The AUD/USD pair broke the 0.6580 support...
Australian Merchandise Trade Balance: Exports Still Elevated – Despite Partial Pull-Back in April
Exports still elevated - despite partial pull-back in April
For Preliminary merchandise trade data (goods but not services) for April was released.
Recall that this data...
Week Ahead: Tensions Heating Up as Summer Approaches
China and the US appear to be on a collision course as tensions escalate. In what originally began as a “blame game” over the...
Week Ahead – Reopening Momentum and China in focus
Brewing geopolitical risks helped investors take some risk off the table heading into the long weekend. The dollar rallied against most of its peers...
Week Ahead – US-China Feud to Stay Under Spotlight as Data Takes a Backseat
Virus recovery hopes have gotten a boost after preliminary PMI readings for May rebounded more strongly than expected, underscoring the market optimism. But with...
AUDJPY Pulls Back, But Still in Positive Mode
AUDJPY inched lower in the last couple of sessions, after touching a 6-week high at 71.00, but the series of higher highs and higher...
NZD/USD Breakout Occurs
The New Zealand Dollar has declined by 39 pips or 0.64% against the US Dollar since Friday's trading session. The currency pair breached the...
NZD/USD Could Edge Lower
The common European currency has declined by 116 pips or 0.98% against the Japanese Yen since yesterday's trading session. The currency pair reversed from...
NZDUSD Dwindles Ahead Of Ceiling Of Directionless Market
NZDUSD appears to be fading from the vicinity of the upper boundary of the range of 0.6175 towards the 0.6073 level, that being the...
NZD/JPY 4H Chart: Could Aim At 64.96
The New Zealand Dollar has surged by 261 pips or 4.11% against the Japanese Yen since this week's trading sessions. The currency pair tested...
NZD/CAD 4H: Likely To Continue To Trend Bullish
The New Zealand Dollar has edged higher by 188 pips or 2.25% against the Canadian Dollar since this week's trading sessions. The currency pair...
NZD/USD Breakout Occurs
The New Zealand Dollar surged by 69 pips or 1.13% against the US Dollar on Wednesday. The currency pair bounced off the weekly R1...
Elliott Wave View: Further Downside In GBP/NZD
GBPNZD broke below 3.19.2020 low (1.9899) creating an incomplete bearish sequence from 3.9.2020 high (2.182). Short term Elliott Wave View suggests the decline from...
A Matter Of When, Not If – Updated Forecasts Of The RBNZ’s OCR And LSAP
We now expect the RBNZ will reduce the OCR to -0.5% in April 2021 (previously November 2020).
We expect that the RBNZ will...
NZD/USD Breakout Could Occur
The New Zealand Dollar surged by 61 basis points or 1.01% against the US Dollar on Tuesday. The currency pair breached the weekly R1...
NZDUSD Surpasses SMAs But Bias Is Neutral
NZDUSD has been on the sidelines over the last six weeks with a strong resistance level at the 50.0% Fibonacci retracement level of the...
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