AUD/USD Outlook: Bulls Pressure Key Barriers ahead of RBA Policy Meeting
The Australian dollar is consolidating under three-month high (0.7407), posted after fresh probe through 0.7400 earlier today.
Bulls remain well supported by rising positive sentiment on vaccine expectations that continues to deflate US dollar and ahead of Tuesday's RBA policy meeting.
The central bank is expected to keep record low interest...
Sunset Market Commentary
Markets
At the start of the new week, global trading showed no clear, unequivocal trend across markets. Asian equities finished the month with modest losses despite the a solid China PMI confidence, both for the manufacturing and the services sector. This investor caution also spilled over into European trading. At...
Loonie and Sterling Firmer in Dull Month-End Trading
Overall, the markets are relative quite today, in month end trading. Stocks are struggling in tight range, indifferent to news of Modern's plan to see US and EU clearance for their vaccine. In the currency markets, Sterling is currently the strongest one, awaiting news on Brexit trade talks. Canadian...
Swiss Franc Flat after Mixed Data
The Swiss franc is showing little movement at the start of the new trading week. Currently, USD/CHF is trading at 0.9049, up 0.07% on the day. The currency is trying to shake off a mini-slump, after posting declines over four straight days, which resulted in a losing week for...
Chilled End to Bumper November
It's been a pretty chilled start to the week, with a little more profit taking kicking in as we bring an end to a bumper November.
More vaccine news from Moderna, as they applied for emergency regulatory approval in the US and Europe. That could see the vaccine distributed before...
U.S Futures Consolidating – Watch SPGI, INFO, MRNA, GS
The S&P 500 Futures are mixed after they closed higher on Friday.
Later today, the Market News International will release Chicago PMI for November (59.2 expected). The National Association of Realtors will post October pending home sales (+1.0% on month expected). The Dallas Federal Reserve will post its Manufacturing Outlook...
Japanese Yen Calm At 104
It was a quiet week for the Japanese yen and the lack of movement has continued on Monday. Currently, USD/JPY is trading at 104.03, down 0.07% on the day.
In Japan, last week’s inflation numbers were soft, as inflation continues to limp along at low levels. The BoJ Core CPI,...
USD/CAD Decline Likely To Coninue
The US Dollar declined by 50 points or 0.38% against the Canadian Dollar on Friday. The currency pair breached the 50– hour simple moving average at 1.3008 during Friday's trading session.
All things being equal, the exchange rate could continue to edge lower in a descending channel pattern. A breakout...
AUD/USD Two Scenarios Likely
The Australian Dollar edged higher by 41 points or 0.55% against the US Dollar on Friday. The currency pair was pressured higher by the 50– hour simple moving average during Friday's trading session.
Technical indicators demonstrate buying signals on the 4H, daily and weekly time-frame charts. Most likely, bullish traders...
NZD/USD Could Continue To Edge Up
The 50– hour simple moving average has been guiding the New Zealand higher against the US Dollar since November 24. The currency pair made about 30 points move during Friday's trading session.
Everything being equal, the exchange rate is likely to continue to trend higher during the following trading session....
AUDUSD’s Bullish Signals Remain Alive, Despite Ebbing
AUDUSD is struggling to withdraw under the red Tenkan-sen line at 0.7380, after receding ahead of the critical 25-month peak of 0.7413. Positive momentum seems to be taking a hit, as the red Tenkan-sen line is flattening out. However, the upwards dictating demeanours of the simple moving averages (SMAs)...
LTCUSD $70.00 Buy Zone
Litecoin has staged a strong recovery over the weekend, with the LTCUSD pair rallying back towards the $80.00 resistance level. Technical analysis shows that LTCUSD bulls may buy into a price dip towards the $70.00 level in expectation another rally. Traders that are bearish towards the LTCUSD pair may...
EURUSD 1.2000 Upcoming
The euro currency has started the new trading week positively against the US dollar, with the pair edging towards the 1.2000 resistance level. Traders that are bullish towards the EURUSD pair may continue to buy into price dips while price trades above the 1.1940 level. Breakout traders may target...
Dollar Slips Again On Fed Speculation, Stocks Pause For Breath
Dollar extends slide as investors look to Powell testimony and NFP report for Fed clues
Stocks stumble at start of week, but vaccine progress keeps risk appetite alive
Pound still holding out for Brexit breakthrough as time running out
Oil slips as OPEC+ unlikely to agree on long...
Is 74 Line Next For The Aussie?
The Australian dollar is calm in Monday trade. Currently, AUD/USD is trading at 0.7386, down 0.02% on the day.
Aussie posts excellent November
The Australian dollar gained 1.1% last week and has posted an outstanding November, with gains of 4.8%. The US dollar has been in a prolonged slump, and cyclical...
USDJPY Rallies Above 104.00, Neutral-To-Bearish In Near-Term
USDJPY surged above the 20- and 40-period simple moving averages (SMAs), flirting with the Ichimoku cloud and surpassing the 104.00 psychological level. The RSI is sloping north, resting around the 50 level, though the MACD oscillator is still moving sideways in the negative territory in the 4-hour chart.
If buying...
EURUSD Claims 3-Month High, Near A Critical Make Or Break Point
EURUSD’s refusal to dive below the 1.1600 floor for the second time has developed into a bullish wave in November, pushing the price comfortably into the 1.1900 area and to an almost three-month high of 1.1975 on Monday.
From a technical perspective there is scope for additional improvement in the...
USD/TRY: Rebound Expected
Pivot (invalidation): 7.7920
Our preference Long positions above 7.7920 with targets at 7.8950 & 7.9270 in extension.
Alternative scenario Below 7.7920 look for further downside with 7.7540 & 7.7200 as targets.
Comment The RSI calls for a rebound.
AUD/USD: Supported By A Rising Trend Line
Pivot (invalidation): 0.7375
Our preference Long positions above 0.7375 with targets at 0.7410 & 0.7435 in extension.
Alternative scenario Below 0.7375 look for further downside with 0.7350 & 0.7330 as targets.
Comment Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
USD/CAD: Key Resistance At 1.3010
Pivot (invalidation): 1.3010
Our preference Short positions below 1.3010 with targets at 1.2970 & 1.2955 in extension.
Alternative scenario Above 1.3010 look for further upside with 1.3025 & 1.3040 as targets.
Comment As Long as the resistance at 1.3010 is not surpassed, the risk of the break below 1.2970 remains high.
USD/CHF: The Downside Prevails
Pivot (invalidation): 0.9055
Our preference Short positions below 0.9055 with targets at 0.9020 & 0.9000 in extension.
Alternative scenario Above 0.9055 look for further upside with 0.9080 & 0.9095 as targets.
Comment As Long as the resistance at 0.9055 is not surpassed, the risk of the break below 0.9020 remains high.
USD/JPY: Under Pressure
Pivot (invalidation): 104.15
Our preference Short positions below 104.15 with targets at 103.65 & 103.50 in extension.
Alternative scenario Above 104.15 look for further upside with 104.30 & 104.45 as targets.
Comment The RSI is bearish and calls for further decline.
GBP/USD: Watch 1.3380
Pivot (invalidation): 1.3310
Our preference Long positions above 1.3310 with targets at 1.3360 & 1.3380 in extension.
Alternative scenario Below 1.3310 look for further downside with 1.3285 & 1.3260 as targets.
Comment The RSI calls for a rebound.
EUR/USD: Further Advance
Pivot (invalidation): 1.1940
Our preference Long positions above 1.1940 with targets at 1.2000 & 1.2020 in extension.
Alternative scenario Below 1.1940 look for further downside with 1.1915 & 1.1900 as targets.
Comment The RSI is bullish and calls for further upside
EUR/USD Bullish Pressure Is Imminent
The EUR/USD looks a bit bullish. The price should be bouncing towards D H5 camarilla level.
We can spot 2 POC zones. However before the buyers get the better price to buy, we need to see if there will be any retracement. The first POC is 1.1940-52. In the case...
EUR Remains Strong Ahead German Inflation
Later today, the German Federal Statistical Office will post November CPI, expected at -0.1% on year. On a monthly basis, it will be expected at -0.7%.
From a technical point of view, on a daily chart, EUR/USD still stands above its 50-day moving average (in blue). Readers may therefore consider...
The US Dollar Finally Succumbed To All The Pressure This Morning
Markets
The US dollar finally succumbed to all the pressure this morning. The trade-weighted greenback changes hands below 91.73/91.75 support. The former is the 76% retracement level of the 2018-2020 dollar rally while the latter is the 2020 low. A sustained break lower would set the stage for a fresh...
Daily Technical Analysis
EUR/USD
Current level - 1.1969
After the successful breach of the important resistance zone at 1.1920, the EUR continued to gain positions against the USD. A continuation of the rally and an attack of the high at around 1.2010 is the most probable scenario at the time of writing the analysis....
GBP/USD Gives Back Gains, Falling To 1.3300 Technical Support
The British pound sterling gave back some of the gains on Friday, to close on a bearish note. This move saw price action falling back to the familiar support of 1.3300.
This also resulted in the rising trend line being breached.
If we see a downside continuation, then the break down...
Euro Resumes Gains Following Trend Line Support
The euro currency closed on the higher side on Friday, following a flat close on Thursday. The gains come as the rising trendline sees a lot of activity.
Price action is finding support off the rising trend line, pushing prices higher. The current pace of gains could see the euro...