Mon, Mar 01, 2021 @ 13:49 GMT
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Can the RBA Shoot the Aussie Down?

The Reserve Bank of Australia (RBA) will conclude its March policy meeting at 01:30 GMT Tuesday. The domestic economy is doing well and commodity prices have soared, but the RBA won't be happy about the recent surge in bond yields and the exchange rate. Markets have even started pricing...

Currency Pair of the Week: AUD/USD

The Reserve Bank of Australia meets this week and is expected to leave rates unchanged at all-time lows of 0.10% and reiterate the monetary policy will remain accommodative until CPI is sustainable at their targeted level of 2%-3%.  At their February meeting, the RBA said that they expected that...

EUR/USD 2 POC Zones for Further Upward Continuation

The EUR/USD is bullish and the retracement is almost completed. We could see a move to the upside soon. We can see 2 POC zones. The first zone is 1.2022-40 and it is supported by W L3 and the trendline. The POC2 is 1.1985-1.2015 and is slightly above the W...

The Growth Of The Dollar Index Continues In Expectation Of Te Report On The Labor Market This Week

On Friday, the market moved synchronously in favor of the dollar. Gold broke through the lows on November 30 and consolidated below $1,760 per troy ounce. The Bloomberg Commodity Index, which consists of 23 commodities, decreased the most since April, as the dollar's strength reduced the interest in commodities...

USDJPY’s Weekly Bullish Cycle Could Lose Impetus

USDJPY ticked to a fresh 6-month high of 106.73 on Monday, but its weekly bullish cycle seems to be ending as the price is flirting with the topline of the ascending channel. The flattening RSI and the slowing positive momentum in the MACD also hint that the buying appetite may...

Pro-Cyclical Currencies Rise In Asia

Pro-cyclical currencies, Asian currencies climb Rebounding commodity prices and vaccine optimism have lifted pro-cyclical and Asian currencies this morning. The dollar index rose 0.83% to 90.83 on Friday, but a quiet day on the majors has seen it edge lower to 90.80 in Asia. Far more activity is being seen on...

EUR/USD Outlook: Euro Extends Weakness After Strong Fall On Friday

The Euro remains firmly in red and extends weakness on Monday, despite solid German / EU PMI data, weighed by Friday’s massive bearish daily candle (the pair was down 0.84%, making the biggest one-day fall since 19 Mar 2020). Fresh bears emerged after strong upside rejection last Thursday, as bulls...

The Analytical Overview Of The Main Currency Pairs

The EUR/USD currency pair Technical indicators of the currency pair: Prev Open: 1.2174 Prev Close: 1.2073 % chg. over the last day: -0.83% Friday saw the pair's largest intraday fall since March last year. The weekly candle closed in the red, forming a bearish engulfing. On the daily chart, the price has returned to...

AUDUSD Leaps Back Above 200-MA But Bearish Risks Persist

AUDUSD produced a false break of the 0.7988 high, identified in February 2018, touching a 3-year peak of 0.8006 before plummeting below the simple moving averages (SMAs) and pivoting at 0.7691. The SMAs are still supporting the pair’s bullish demeanour in spite of the diminished upward slopes of the...

ETHUSD $1,620 Technically Important

Ethereum is starting to recover alongside the broader cryptocurrency market after setting a four-week low, around the $1,287 level. Bulls may test towards a key trendline breakout on the four-hour time frame, around the $1,620 level if the short-term upside momentum continues. Additionally, the Parabolic SAR indicator shows that...

Stocks Edge Up, Dollar Eases As Bond Markets Stabilize

Yields fall back as selloff in government bonds cools, but is the panic over? Stocks get off to firm start as vaccine and stimulus hopes still at play Risky currencies pare losses as dollar recedes from highs, gold bounces off lows Calm returns to bond markets, but maybe not...

EURUSD Faces Restrictions Within The Cloud; Bias Neutral

EURUSD did not find enough buyers to successfully breach the surface of the Ichimoku cloud and the restrictive line stretched from August despite moving beyond them to peak at 1.2242 last week. Encouragingly, however, sellers were not strong enough either to create a lower low below the cloud, keeping the...

NZD/USD Breakout Occurs

Downside momentum pressured the New Zealand Dollar against the US Dollar on Friday. The NZD/USD exchange rate declined by 145 pips or 1.97% during Friday's trading session. Given that a breakout had occurred through the lower boundary of an ascending channel pattern, sellers might pressure the currency pair lower during...

USD/CAD Breaks Channel Pattern

Upside risks dominated the US Dollar against the Canadian Dollar on Friday. As a result, a breakout through the upper boundary of a descending channel pattern occurred during Friday's trading session. Given that a breakout has occurred, bullish traders are likely to continue to pressure the exchange rate higher during...

USD/JPY Reaches Above 106.50

On Monday, the USD/JPY traded above the 106.50 mark, which appeared to be providing support to the rate. In the meantime, it has to be taken into account that the rate was supported on Friday by the 55-hour simple moving average, as it pushed the USD/JPY up. In the near...

GBP/USD Trades Below 1.4000

On Monday, the GBP/USD currency exchange rate was testing the resistance of the 1.4000 mark. Meanwhile, a cluster of technical resistance levels was located just above the 1.4000 mark. In the case of the 1.4000 mark being passed, the pair could reach for the 55 and 200-hour SMAs and the...

EUR/USD Recovers On Monday

On Monday morning, the EUR/USD currency exchange rate was recovering from the Friday's low level of 1.2065. During the early hours of European trading, the rate was testing the resistance of the 1.2100 mark. If the currency rate manages to pass the resistance of the 1.2100 mark, the pair could...

AUD/USD Decline Could Continue

Downside risks dominated the Australian Dollar against the US Dollar on Friday. As a result, the AUD/USD currency pair declined by 155 pips or 1.97% during Friday's trading session. Given that a breakout has occurred through the lower boundary of an ascending channel pattern, bearish traders are likely to pressure...

Daily Technical Analysis

EUR/USD Current level - 1.2083 During the past trading session, the single European currency lost quite a bit of its value against the U.S. dollar and the pair tested the support level at 1.2064. Expectations are for this level to limit the corrective movement and for the bulls to re-enter the...

EUR/USD Should Recover 1.21 For The Pair To Retain The Short-Term Upward Momentum

Markets The bond selloff eased markedly in Europe last Friday, in part following comments from ECB’s Lane and Schnabel. The latter said rising real long-term yield could threaten the recovery. That in turn might lead to more action by the central bank. In an overall cautious setting, the German yield...

LTCUSD Watching Falling Wedge

Litecoin has remained under pressure over the weekend after the broader cryptocurrency market continues to be sold on any rallies. Multiple time frames show that the LTCUSD pair is trading within a falling wedge pattern, which is considered to be a bullish reversal pattern. Traders may look for the...

EURUSD 1.2080 Now Key

The euro currency remains under pressure against the US dollar, after stage a huge reversal back under the 1.2100 support level. The four-hour time frame shows that the EURUSD pair is testing towards the bottom of a rising price channel, around the 1.2080 level. The Parabolic SAR indicator on...

USDJPY Looking Up

The US dollar is continuing its breakout against the Japanese yen currency, as the pair looks increasingly bullish above the 106.00 level. The weekly time frame shows multiple bullish technical signals, with the 107.65 level a possible upcoming target above the 107.00 level. Traders should expect the strong upside...

US Dollar Bounces Back As US Treasury Yields Retreat

The Australian dollar rose slightly against the US dollar after relatively weak manufacturing PMI data from China and Australia. Yesterday, a report by the National Statistics Bureau revealed that the manufacturing PMI fell from 51.3 to 50.6 in January while the non-manufacturing PMI fell to 51.4. Caixin also reported...

European Open: Minor Bounce For Indices Ahead Of Key PMI Reports

Sentiment was given a slight boost in Asia today following the weekend's positive news flow. Asian futures: Australia's ASX 200 index rose by 116.3 points (1.74%) to close at 6,789.6 Japan's Nikkei 225 index rose by 597.66 points (2.06%) to close at 29,563.67 Hong Kong's Heng Seng index has risen...

Market Morning Briefing: Dollar Index Has Risen

STOCKS Asian indices are getting a breather on early trades today after having sold-off strongly towards the end of last week. Nikkei has bounced from 29000 and Shanghai is holding above 3500 and is attempting to bounce. The Dow Futures (31156, +242, +0.78%) is also trading higher. This can provide...

EUR/USD Fails Above 1.2200, GBP/USD Trimming Gains

Key Highlights EUR/USD topped near 1.2240 and started a fresh decline. There was a break below an ascending channel with support at 1.2090 on the 4-hours chart. GBP/USD trimmed gains and traded below 1.4000, whereas USD/JPY extended its rally above 106.50. The US ISM Manufacturing PMI could increase from...

Forex and Cryptocurrencies Forecast

First, a review of last week's events: EUR/USD. As we expected, the speech by the head of the Fed turned out to be quite interesting. Jerome Powell presented to Congress a semi-annual report on monetary policy, from which it followed that not everything is as good as we would like...

A Wild Week of Metals, Yields, Stocks and Dollar

Just after DOW hit new record high in the middle of last week, the rally was choked by skyrocketing treasury yields. Dollar surprisingly ended as the strongest one for the week, followed by Euro and then Sterling. Australian Dollar suffered most as it reversed some of the month's gains....

CFTC Commitments of Traders – Risky Currencies Pulled Back on Profit-Taking

As suggested in the CFTC Commitments of Traders report in the week ended February 23, NET SHORT of USD Index futures dropped -436 contracts to 13 851. Speculative long positions added +1 750 contracts while shorts were up 1 314 contracts. Concerning European currencies, NET LENGTH in EUR futures...