Thu, May 06, 2021 @ 00:46 GMT
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GBP/JPY Bounces Off Support

Upside risk pressured the British Pound against the Japanese Yen on Tuesday. The currency pair bounced off a support cluster at the 150.23 area during yesterday's trading session. Given that the exchange rate is currently trading above the 50- and 200- hour SMAs, bullish traders could drive the GBP/JPY pair...

EURGBP Crawls Towards 0.8700, Clinging To A Hike

EURGBP has reversed back to the upper surface of the Ichimoku cloud around 0.8730. Positive sentiment appears revived after the bounce off the supportive 13-month low of 0.8470. Further backing this short-term view are the upward slopes of the 20- and 40-day simple moving averages (SMAs). However, for now the...

GBP/USD Bulls Likely To Prevail

On April 27, the Pound Sterling surged by 56 pips or 0.40% against the US Dollar. The currency pair tested the upper line of a descending channel pattern at 1.3920 during Tuesday's trading session. As for the near future, the exchange rate could continue to edge higher. A breakout through...

Daily Technical Analysis

EUR/USD Current level - 1.2079 At the time of writing, we are seeing the EUR/USD entering a consolidation phase after the bears initially managed to limit the upward movement to the level of resistance at 1.2113, thus it is possible to witness a minor sell-off towards 1.2046. Looking at the higher...

EUR/GBP Tests Triple Top

Euro buyers are encouraged by news of easing of restrictions in Italy and France. The pair has risen back to the major support area around 0.8720-0.8730. After the failure of the first test, strong bids have supported the price to form a triple top. Would the third time be the...

AUD/USD Forms Double-Top After Weak Australia Data

US stocks wavered as investors reacted to the latest corporate earnings by top companies like Alphabet and Microsoft. Alphabet, the owner of Google and YouTube, announced a 34% revenue jump to a record $55.3 billion, which was higher than the expected $51.6 billion. Its net profit surged by 162%...

European Open: Australian Inflation Hits A Record Low

Surprisingly weak inflation weighed on the Australian dollar today, as traders pushed back already low expectations of a hawkish RBA materialising. Asian Indices: Australia's ASX 200 index rose by 32.4 points (0.46%) and currently trades at 7,066.20 Japan's Nikkei 225 index has risen by 102.27 points (0.01%) and currently trades...

Market Morning Briefing: Euro Has Dipped Below 1.21 And Trades Lower

STOCKS Equities continue to trade mixed and are struggling to find a direction. Dow is stuck around 34000 and DAX hovers above 15200. Nikkei is stable within its 28000-31000 range. Shanghai can fall within its 3350-3500 range. Sensex and Nifty have come up towards the upper end of their 47000-49000...

Sunset Market Commentary

Markets Central bank meetings in Japan, Sweden and Hungary today were nothing but some minor distraction ahead of tomorrow’s Federal Reserve gathering. The Fed is expected to stick to the view that a transient increase in inflation doesn’t warrant a premature reversal of its very accommodative monetary policy. For the...

The Analytical Overview Of The Main Currency Pairs

The EUR/USD currency pair Technical indicators of the currency pair: Prev Open: 1.2091 Prev Close: 1.2085 % chg. over the last day: -0.04% On Monday, the EUR/USD price reached a resistance level of 1.2109 but did not break out it at the first try. The price bounced down and also broke the local uptrend...

GBPUSD Stagnant Around 50-Day SMA, Optimism Lingers

GBPUSD is flirting with the 1.3869 level, which happens to be the 23.6% Fibonacci retracement of the up leg from 1.2674 until the 34-month high of 1.4236, after the price pullback found some footing off the 100-day simple moving average (SMA). The bullish SMAs are shielding the positive structure,...

GBP/JPY Could Break Channel

The Pound Sterling surged by 78 pips or 0.52% against the Japanese Yen on Monday. The currency pair breached a resistance cluster at 150.23 during yesterday's trading session. The exchange rate is currently trading near the upper line of a descending channel pattern at 150.34. If the channel pattern holds, bearish...

GBP/USD Bounces Off Support Cluster

On Monday, the British Pound dropped by 54 pips or 0.42% against the US Dollar. The currency pair tested a support cluster near the 1.3880 area during the Asian session on Tuesday. The exchange rate bounced off the 55– and 200– hour SMAs support level on Tuesday morning. Most likely,...

Daily Technical Analysis

EUR/USD Current level - 1.2069 Yesterday`s rally was limited to the level at 1.2110 and the EUR/USD erased some of its gains. At the time of writing, the pair is holding positions around the zone at 1.2070, but it is highly probable that the correction will deepen towards 1.2046. A successful...

GBP/USD Consolidates But This Resistance Holds The Key

Key Highlights GBP/USD is holding the 1.3840 support zone. A key bullish trend line is forming with support near 1.3845 on the 4-hours chart. EUR/USD is showing positive signs above 1.2050 and 1.2000. Gold price started consolidating gains above the $1,750 support zone. GBP/USD Technical Analysis The British Pound struggled near...

Market Morning Briefing: Euro Has Dipped Below 1.21 And Trades Lower

STOCKS Dow and DAX remain stable at higher levels and look mixed. Dow has to get a strong follow-through rise above 34000 to move further up. For DAX upside could be capped at 15500-15700 from here. Nikkei remains stable within its 28000-31000 range. Shanghai is moving down within its 3350-3500...

UK Realized Sales Could Turn Positive

The British pound has posted slight gains at the start of the week. In the North American session, GDP/USD is trading at 1.3894, up 0.14% on the day. The pound punched above the symbolic 1.40 level last week and appeared poised to make further gains against a struggling US dollar....

Sunset Market Commentary

Markets This week’s eco calendar contains plenty of data (US & EMU Q1 growth and price data, EMU and US confidence) and events (Fed policy decision on Wednesday, US Treasury selling more than $180 bln combined in 2, 5 and 10y bonds). The earnings season (especially in the US) will...

The Analytical Overview Of The Main Currency Pairs

The EUR/USD currency pair Technical indicators of the currency pair: Prev Open: 1.2014 Prev Close: 1.2097 % chg. over the last day: +0.69% On Friday EUR/USD closed the day with +0.69%. One of the main reasons for that raise was positive data on German PMI. On the H1 and H4 timeframes the price is...

GBP/JPY Trend Line Is Taken Out

The GBP/JPY has been breaking below the trend line after successfully making 1-2-3 pattern sell. Last week I saw a potential for the short. However, the shorts happened after point 3 has been printed out and now we see that trend line is being tested. It has already been taken...

GBP/JPY Breaks Channel Pattern

The British Pound surged by 67 pips or 0.45% against the Japanese Yen on Friday. The currency pair breached the upper boundary of a descending channel pattern on Monday morning. Everything being equal, the exchange rate is likely to edge higher during this session. The potential target for buyers will...

GBP/USD Beached Channel Pattern

During the first half of Friday's trading session, The British Pound declined by 58 pips or 0.42% against the US Dollar. However, the exchange rate rebounded at the end of the day. The currency pair breached the upper line of a descending channel pattern during the Asian session on Monday. Most...

GBP/USD Outlook: Sterling Regained Traction But Continues To Move Within Daily Cloud

Cable extended Friday's bounce and rose above 1.39 mark in early European trading on Monday but continues to trade within daily cloud (1.3844/1.3957) which started to narrow and will twist later this week. Break of cloud top would generate bullish signal for renewed attack at psychological 1.40 barrier, above which...

Daily Technical Analysis

EUR/USD Current level - 1.2105 The pair has successfully breached the resistance zone at around 1.2040 and the forecasts for further gains remain valid. Any pullbacks should remain limited by the zone of the breach, with the first target being found at 1.2170, followed by the one at 1.2240. This week,...

GBP/USD Retreats In Search Of Support

The pound is looking for support after a better-than-expected PMI suggests economic resilience. The latest sharp sell-off came from the psychological level of 1.4000, also a major resistance on the daily chart. Its breach could revive the thirteen-month-long uptrend. As for now, an oversold RSI has prompted some short-covering. 1.3810 is...

GBPUSD Still Bullish

The British pound is attempting to recover against the US dollar as the technical surrounding the pair still remain bullish in the short-term. The GBPUSD pair continues to trade above its 200-period on the four-hour time frame, so buying dips still remains appropriate right now. A large inverted head...

Forex Forecast And Cryptocurrencies Forecast

First, a review of last week's events: EUR/USD. The US economy is showing impressive growth. Europe, on the other hand, is in a widespread lockdown and, apparently, is experiencing a second recession. The share of those who received at least one COVID-19 vaccine in the EU is 25.1%, while in...

Market Morning Briefing: Aussie Is Trading Higher

STOCKS Dow remains mixed and continues to hover around 34000. It has to sustain above 33500 to move up towards 35000 and avoid a fall from here. DAX remains higher but lacks momentum. Resistances at 15500-15700 can cap the upside from here and drag it lower going forward. Nikkei can...

Dollar’s Near Term Bearishness Persists, Other Currencies Mixed

Dollar ended as the worst performing one last week as near term bearishness persisted. Q1's rebound should have completed and the main question is whether it's ready for new lows. That is, indeed, in favor unless overall risk-off sentiments were choked off by some unexpected events. The forex markets were...

CFTC Commitments of Traders – Net Length of CAD Futures Jumped Over 6 Times on Hawkish BOC

As suggested in the CFTC Commitments of Traders report in the week ended April 20, NET LENGTH for CAD futures soared +10 840 contracts to 13 246 contracts, compared with 2 406 contracts a week ago. Speculative longs increased while shorts dropped during the week. A hawkish BOC is...