Euro: USD/EUR (EUR=X) main trend is down according to the daily swing chart

Euro: USD/EUR (EUR=X) main trend is down according to the daily swing chart

Euro: USD/EUR (EUR=X) main trend is down according to the daily swing chart The Euro closed higher against the U.S. Dollar on Friday as renewed optimism over a near-term trade deal between the United States and China bolstered the trade-linked single-currency. Those hopes were generated by upbeat comments from White House economic advisor Larry Kudlow, […]

Australian Dollar: USD/AUD (AUD=X) weak employment data drove up the chances of another rate cut by the Reserve Bank of Australia

Australian Dollar: USD/AUD (AUD=X) weak employment data drove up the chances of another rate cut by the Reserve Bank of Australia

Australian Dollar: USD/AUD (AUD=X) weak employment data drove up the chances of another rate cut by the Reserve Bank of Australia The Australian Dollar closed lower last week with most of the loss occurring on November 14  after the Australian 10-year government bond yield slumped to over a 1-week low after the country’s employment report […]

Canadian Dollar: USD/CAD (CAD=X) quiet week expected

Canadian Dollar: USD/CAD (CAD=X) quiet week expected

Canadian Dollar: USD/CAD (CAD=X) quiet week expected USD/CAD continues to have a quiet week. In Friday’s European session, the pair is trading at 1.3240, down 0.07% on the day. On the fundamental front, there are no major Canadian events on the schedule. Foreign Securities Purchases are expected to drop to C$4.22 billion in September. Technical Analysis […]

Japanese Yen: USD/JPY (JPY=X) Begins with ‘Cautiously Bullish’ Tone

Japanese Yen: USD/JPY (JPY=X) Begins with ‘Cautiously Bullish’ Tone

Japanese Yen: USD/JPY (JPY=X) Begins with ‘Cautiously Bullish’ Tone Mixed comments about the status of trade talks between the United States and China encouraged some investors to seek shelter in the safe-haven Japanese Yen although U.S. stock market investors seemed to read the developments as bullish. This should be the focus for investors this week […]

New Zealand Dollar: NZD/USD (NZD=X) sharply higher after wholesale interest rates spiked after the Reserve Bank left its official cash rate (OCR) unchanged

New Zealand Dollar: NZD/USD (NZD=X) sharply higher after wholesale interest rates spiked after the Reserve Bank left its official cash rate (OCR) unchanged

New Zealand Dollar: NZD/USD (NZD=X) sharply higher after wholesale interest rates spiked after the Reserve Bank left its official cash rate (OCR) unchanged The New Zealand Dollar finished the week sharply higher after wholesale interest rates spiked after the Reserve Bank left its official cash rate (OCR) unchanged at 1 percent. Market expectations were weighted […]

British Pound: USD/GBP (GBP=X) showing signs of confusion

British Pound: USD/GBP (GBP=X) showing signs of confusion

British Pound: USD/GBP (GBP=X) showing signs of confusion The British pound went back and forth during the trading session on Friday, showing signs of confusion but quite frankly I think a lot of traders don’t to put money into the market ahead of the weekend as headlines could come out and cause a major On […]

Millennials Adopt Old School Love of Gold

Millennials Adopt Old School Love of Gold

$XAU, $GLD The World Gold Council (WGC) has reported that millennials’ attitudes towards gold are not so different to those of older generations. “Gold can resonate more deeply among younger consumers,” the report said. “But there are perceptual misgivings among the younger Gen Z audience, misgivings which are particularly pronounced in China’s jewelry market. For example, […]

US-China Trade Deal Hopes “whet risk appetite,” Gold Falls

US-China Trade Deal Hopes “whet risk appetite,” Gold Falls

$SPY, $GLD, $XAU Gold prices fell Friday as risk appetite was whetted by comments from White House economic adviser Larry Kudlow that the United States is nearing an interim trade pact with China. Spot gold (XAU) was down 0.5% at $1,464.17 oz, as of 0754 GMT, but was set to rise about 0.4% this week, […]

Gold Technical Analysis: Buy Stops Over 1461.30 May Trigger Move into 1471.00 Fibo Mark

Gold Technical Analysis: Buy Stops Over 1461.30 May Trigger Move into 1471.00 Fibo Mark

$XAU, $GLD Gold traded up early Wednesday and in a position to do something it has not done in 8 trading sessions: take out the previous day’s high. With Treasury yields inching lower and the US stock indexes weakening some, it looks as if gold is attracting a little buying. But, cannot tell if its […]

Gold Bounced Finishing in the Green

Gold Bounced Finishing in the Green

$XAU, $GLD, $USD Gold prices bounced off session lows and closed in the Green Tuesday, despite a stronger USD. Yields remain edged lower. German data is showing some small signs of improvement. President Trump in a speech before the Economic Club of New York on Tuesday to hammered the Fed, saying that although the stock […]

Gold ETFs Seeing Support After Correction

Gold ETFs Seeing Support After Correction

$GLD, $XAU, $XAG, $USD, $UGLD, $NUGT, $NEM, $GOLD Ongoing trade tensions between the US and China, along with geopolitical tension in the Middle East, have underpinned gold prices throughout most of Y 2019. Plus, a weakening USD this year brought about by 3 Fed interest rate cuts has helped support the precious Yellow metal, as the two assets […]

Gold Markets Break South

Gold Markets Break South

$GLD, $XAU, $USD Gold markets broken down significantly last week, marking well below the $1500 mark, a very negative sign, but when you look at the weekly chart, you can see a bullish flag. But, this market needs to save itself quickly or it will be serious technical trouble. The $1450 mark will continue to keep […]

Canadian Dollar: USD/CAD (CAD=X) Ahead – Canadian Employment Data

Canadian Dollar: USD/CAD (CAD=X) Ahead – Canadian Employment Data

Canadian Dollar: USD/CAD (CAD=X) Ahead – Canadian Employment Data USD/CAD is trading sideways in Thursday trade. In the North American session, the pair is trading at 1.3187, up 0.01%. Ahead – Canadian Employment Data Traders should be prepared for possible volatility from USD/CAD on Friday, with the release of key employment reports. The employment change indicator is projecting […]

New Zealand Dollar: NZD/USD (NZD=X) support at 0.6330

New Zealand Dollar: NZD/USD (NZD=X) support at 0.6330

New Zealand Dollar: NZD/USD (NZD=X) support at 0.6330 After posting losses for three straight sessions, NZD/USD is flat in Thursday trade. In the European session, the pair is trading at 0.6367, up 0.04% on the day. There are no New Zealand events for the remainder of the week. NZD/USD Technical Analysis NZD/USD has moved lower this week, […]

British Pound: USD/GBP (GBP=X) sinks on Bank of England division

British Pound: USD/GBP (GBP=X) sinks on Bank of England division

British Pound: USD/GBP (GBP=X) sinks on Bank of England division The pound US dollar exchange rate eased this afternoon after the Bank of England (BoE) left its interest rate unchanged at 0.75 percent. This came despite two dissenting policymakers voting to cut the rate to 0.5 percent. The BoE was gloomy in its forecasts for […]

Euro: USD/EUR (EUR=X) Economic Data has been Improving

Euro: USD/EUR (EUR=X) Economic Data has been Improving

Euro: USD/EUR (EUR=X) Economic Data has been Improving The forex economic calendar has been light for the Euro in recent days, not atypical once we make it past the first few days of the month. Overall, Eurozone economic data has been steadily improving over the past few weeks, at least when trying to measure releases […]

Japanese Yen: USD/JPY (JPY=X) Trade optimism weighs on safe-haven assets

Japanese Yen: USD/JPY (JPY=X) Trade optimism weighs on safe-haven assets

Japanese Yen: USD/JPY (JPY=X) Trade optimism weighs on safe-haven assets The USD/JPY started the day below the 109 handle on Thursday and spent the Asian session in a calm manner but rose sharply during the European trading hours after China’s Commerce Ministry said that the United States and China have agreed to roll back tariffs. […]

Australian Dollar: USD/AUD (AUD=X) shown signs of erratic behavior

Australian Dollar: USD/AUD (AUD=X) shown signs of erratic behavior

Australian Dollar: USD/AUD (AUD=X) shown signs of erratic behavior The Australian dollar has shown signs of erratic behavior over the last 24 hours but this should not be a huge surprise considering that we continue to have mixed messages coming out of the trade war between the United States and China. However, part of the resiliency that […]

Canadian Dollar: USD/CAD (CAD=X) Canadian Ivey PMI Loses Ground

Canadian Dollar: USD/CAD (CAD=X) Canadian Ivey PMI Loses Ground

Canadian Dollar: USD/CAD (CAD=X) Canadian Ivey PMI Loses Ground USD/CAD has recorded slight gains on Wednesday. In the North American session, the pair is trading at 1.3182, up 0.21%. Canadian Ivey PMI Loses Ground Canada’s Ivey PMI remained in contraction territory for a second straight month, with a weak reading of 48.2 in October. This was […]

Japanese Yen: USD/JPY (JPY=X) expect choppy behaviour

Japanese Yen: USD/JPY (JPY=X) expect choppy behaviour

Japanese Yen: USD/JPY (JPY=X) expect choppy behaviour The US dollar pulled back slightly during the trading session on Wednesday in early trading, as we continue to bang up against the crucial 61.8% Fibonacci retracement level. If we can get a major breakout from here, this could be monumental. The US dollar has pulled back a bit […]

Euro: USD/EUR (EUR=X) plummets into initial support hurdles- near-term risk is lower below the monthly open

Euro: USD/EUR (EUR=X) plummets into initial support hurdles- near-term risk is lower below the monthly open

Euro: USD/EUR (EUR=X) plummets into initial support hurdles- near-term risk is lower below the monthly open Euro has plummeted against the US Dollar since the start of the month with price falling to multi-week range-lows today in New York trade. While the broader focus is still weighted to the topside, the near-term outlook remains vulnerable after reversing off […]

British Pound: USD/GBP (GBP=X) looks as if it is struggling to get above the psychologically and structurally important 1.30 level

British Pound: USD/GBP (GBP=X) looks as if it is struggling to get above the psychologically and structurally important 1.30 level

British Pound: USD/GBP (GBP=X) looks as if it is struggling to get above the psychologically and structurally important 1.30 level The British pound has pulled back slightly during the trading session on Wednesday, as we continue to see a lot of choppiness in this general vicinity. The 1.29 level seems to be a bit of a fulcrum […]

Australian Dollar: USD/AUD (AUD=X) Uptrend Move Still Intact

Australian Dollar: USD/AUD (AUD=X) Uptrend Move Still Intact

Australian Dollar: USD/AUD (AUD=X) Uptrend Move Still Intact On Oct 31 AUD/USD rose to a multi-month high at 0.6929. Later, buyers tried to rally the price further however, they have not been successful in overtaking this level. Similarly, NZD/USD rallied at the start of this week to 0.6460 – its highest level in over two […]

New Zealand Dollar: NZD/USD (NZD=X) Job Data Within Expectations

New Zealand Dollar: NZD/USD (NZD=X) Job Data Within Expectations

New Zealand Dollar: NZD/USD (NZD=X) Job Data Within Expectations NZD/USD has posted small losses in Wednesday trade. New Zealand Job Data Within Expectations There were no surprises from New Zealand’s employment numbers for the third quarter. The numbers were weaker in the Q3, as the U.S.-China trade war and weaker global demand continue to weigh on […]

British Pound: USD/GBP (GBP=X) price under pressure as UK services suffer from ‘worst spell’ since 2009

British Pound: USD/GBP (GBP=X) price under pressure as UK services suffer from ‘worst spell’ since 2009

British Pound: USD/GBP (GBP=X) price under pressure as UK services suffer from ‘worst spell’ since 2009 The pound was left muted against the US dollar today, as data showed the UK service sector stagnated, with the pairing currently trading at around $1.287. The pound edged slightly higher against the US dollar on Tuesday, although any […]

Canadian Dollar: USD/CAD (CAD=X) immediate support at 1.3120

Canadian Dollar: USD/CAD (CAD=X) immediate support at 1.3120

Canadian Dollar: USD/CAD (CAD=X) immediate support at 1.3120 USD/CAD has been range-bound in November, as the pair remains lackluster. On the downside, there is immediate support at 1.3120, and this line is vulnerable to a breakout. The 50-EMA, which is currently at 1.3185, has been a resistance line since last week, which is indicative of a […]

Japanese Yen: USD/JPY (JPY=X) market looks more bullish in the short term

Japanese Yen: USD/JPY (JPY=X) market looks more bullish in the short term

Japanese Yen: USD/JPY (JPY=X) market looks more bullish in the short term The US dollar has rallied again during the trading session on Tuesday, reaching towards the ¥109 level which also features the 200 day EMA. The US dollar has rallied significantly during the trading session on Tuesday but is also testing the crucial 200 day EMA. […]

Australian Dollar: USD/AUD (AUD=X) momentum trending lower

Australian Dollar: USD/AUD (AUD=X) momentum trending lower

Australian Dollar: USD/AUD (AUD=X) momentum trending lower The Australian Dollar is trading higher on Tuesday, recovering from early session weakness, after Reserve Bank of Australia policymakers decided to hold policy steady at 0.75%, as expected, while upgrading forward-guidance. The final paragraph of the RBA’s monetary policy statement is steering Aussie Dollar prices higher. In it, […]

New Zealand Dollar: NZD/USD (NZD=X) buyers will return and the uptrend will resume soon

New Zealand Dollar: NZD/USD (NZD=X) buyers will return and the uptrend will resume soon

New Zealand Dollar: NZD/USD (NZD=X) buyers will return and the uptrend will resume soon Risk currencies had a great time in October. The risk sentiment improved in financial markets after the US-China partial trade deal and the Brexit deal, although the latter didn’t pass the British Parliament. As a result, NZD/USD turned bullish and it climbed more […]

British Pound: USD/GBP (GBP=X) Pulls Back Slightly Before Continuing Higher

British Pound: USD/GBP (GBP=X) Pulls Back Slightly Before Continuing Higher

British Pound: USD/GBP (GBP=X) Pulls Back Slightly Before Continuing Higher The British pound has pulled back slightly during the training session on Monday to show signs of life again, as the 1.30 level of course offers a significant amount of psychological resistance. The British pound continues to go back and forth during the trading session on Monday, […]

Australian Dollar: USD/AUD (AUD=X) now testing monthly uptrend support

Australian Dollar: USD/AUD (AUD=X) now testing monthly uptrend support

Australian Dollar: USD/AUD (AUD=X) now testing monthly uptrend support The Australian Dollar has is down more-than 0.3% against the US Dollar since the start of the week with Aussie now testing monthly uptrend support. These are the updated targets and invalidation levels that matter on the AUD/USD price charts. In my latest Australian Dollar Price […]

Euro: USD/EUR (EUR=X) showing signs of short-term weakness

Euro: USD/EUR (EUR=X) showing signs of short-term weakness

Euro: USD/EUR (EUR=X) showing signs of short-term weakness The Euro pulled back a bit during the session on Monday to show signs of short-term weakness. The question now is whether or not it can continue to take the move higher. The Euro has pulled back slightly during the trading session on Monday, to show signs of […]

Japanese Yen: USD/JPY (JPY=X) trapped between two major moving averages

Japanese Yen: USD/JPY (JPY=X) trapped between two major moving averages

Japanese Yen: USD/JPY (JPY=X) trapped between two major moving averages The US dollar gapped higher to kick the week off on Monday, showing signs of strength against the Japanese yen yet again. Ultimately, this is a market that is trapped between two major moving averages. The US dollar has gapped higher against the Japanese yen during the […]

Euro: USD/EUR (EUR=X) to be moved by opinion polls and BOE meeting

Euro: USD/EUR (EUR=X) to be moved by opinion polls and BOE meeting

Euro: USD/EUR (EUR=X) to be moved by opinion polls and BOE meeting The Euro to Dollar exchange rate is trading at around 1.1165 at the start of the new week after rising 0.77% in the week before. Studies of the charts show the pair probably resuming its short-term uptrend after a brief pull-back. The daily […]

Japanese Yen: USD/JPY (JPY=X) investors will be more focused on U.S.-China trade relations

Japanese Yen: USD/JPY (JPY=X) investors will be more focused on U.S.-China trade relations

Japanese Yen: USD/JPY (JPY=X) investors will be more focused on U.S.-China trade relations There is only one major economic report in the United States this week and none from Japan. This likely means investors will be more focused on U.S.-China trade relations. At the end of the week, things were looking more upbeat for at […]

New Zealand Dollar: NZD/USD (NZD=X) consolidates above 0.64

New Zealand Dollar: NZD/USD (NZD=X) consolidates above 0.64

New Zealand Dollar: NZD/USD (NZD=X) consolidates above 0.64 The NZD rose to its highest level since mid-August, at 0.6457, before closing the week around 0.6430. The NZD was up 0.2% on Friday, bringing its weekly gain to 1.2%. The broad-based weakness in the USD and the market’s paring back of OCR rate cut expectations combined […]

Australian Dollar: USD/AUD (AUD=X) this week features the RBA rate decision and retail sales

Australian Dollar: USD/AUD (AUD=X) this week features the RBA rate decision and retail sales

Australian Dollar: USD/AUD (AUD=X) this week features the RBA rate decision and retail sales AUD/USD sparkled last week, jumping 1.3 percent. This was the pair’s best week since early September. This week features the RBA rate decision and retail sales. Here is an outlook at the highlights and an updated technical analysis for AUD/USD. Australian CPI came in […]

British Pound: USD/GBP (GBP=X) recovers and threatens to push higher

British Pound: USD/GBP (GBP=X) recovers and threatens to push higher

British Pound: USD/GBP (GBP=X) recovers and threatens to push higher The Pound to Dollar exchange rate is trading at 1.2935 at the start of the new week after rising 0.87% in the week before. Studies of the charts suggest the short-term uptrend will probably extend, particularly now a break above the major trendline has been […]

Canadian Dollar: USD/CAD (CAD=X) turning higher on bullish technical signals

Canadian Dollar: USD/CAD (CAD=X) turning higher on bullish technical signals

Canadian Dollar: USD/CAD (CAD=X) turning higher on bullish technical signals Where USD managed to get ahead was against the Canadian Dollar. Earlier in the week, USD/CAD formed a bullish reversal pattern (Morning Star) and swiftly turned higher thereafter – as expected. Prices then closed above the key resistance range between 1.3134 and 1.3145, ending the week around the latter. […]

Australian Dollar: USD/AUD (AUD=X) could be on the cusp of a bearish reversal

Australian Dollar: USD/AUD (AUD=X) could be on the cusp of a bearish reversal

Australian Dollar: USD/AUD (AUD=X) could be on the cusp of a bearish reversal The Australian Dollar has enjoyed an impressive rally throughout October with both AUD/USD and AUD/JPY climbing roughly 2%. The technical outlook for AUD price action turns less sanguine, however, as the Aussie pivots lower after touching a major level of confluent resistance. […]

British Pound: USD/GBP (GBP=X) Rallies Towards Resistance

British Pound: USD/GBP (GBP=X) Rallies Towards Resistance

British Pound: USD/GBP (GBP=X) Rallies Towards Resistance The bridge pound has rallied a bit during the trading session on Thursday, reaching towards the 1.30 level. This is an area that of course attracts a lot of attention, as it is a large, round, psychologically significant figure. The British pound has rallied a bit during the trading session […]

Japanese Yen: USD/JPY (JPY=X) Smashed, Bullish Strategies No Longer Attractive

Japanese Yen: USD/JPY (JPY=X) Smashed, Bullish Strategies No Longer Attractive

Japanese Yen: USD/JPY (JPY=X) Smashed, Bullish Strategies No Longer Attractive I had previously looked at bullish scenarios in USD/JPY for long-USD scenarios. But given yesterday’s reaction, that scenario no longer looks as attractive and, if anything, the door may soon be opening for short-side swing scenarios in the pair, looking for resistance in that key zone that […]

Euro: USD/EUR (EUR=X) showing signs of exhaustion

Euro: USD/EUR (EUR=X) showing signs of exhaustion

Euro: USD/EUR (EUR=X) showing signs of exhaustion The Euro initially tried to rally during the trading session on Thursday but struggled at the recent highs again, turning around to show signs of exhaustion. By doing so, it looks as if the market isn’t ready to go higher anytime soon, as the 200 day EMA looms large […]

Canadian Dollar: USD/CAD (CAD=X) is fast approaching the nearby 200-day moving average around 1.33

Canadian Dollar: USD/CAD (CAD=X) is fast approaching the nearby 200-day moving average around 1.33

Canadian Dollar: USD/CAD (CAD=X) is fast approaching the nearby 200-day moving average around 1.33 A certifiably dovish Bank of Canada rate decision sparked a formidable Canadian Dollar selloff on Wednesday, potentially shifting the longer-term outlook for the Loonie. Consequently, USD/CAD’s recent bounce off support around 1.3050 could mark a local bottom. Now, the pair is fast approaching […]

British Pound: USD/GBP (GBP=X) Johnson Calls Snap Election

British Pound: USD/GBP (GBP=X) Johnson Calls Snap Election

British Pound: USD/GBP (GBP=X) Johnson Calls Snap Election Prime Minister Johnson has called a snap election for December 12. This development comes after a prolonged deadlock over Brexit, which has been stuck in the British parliament for months. In the words of Johnson, the British public will be “given a choice” over Brexit in the […]

The Australian Dollar: USD/AUD (AUD=X) and New Zealand dollars trading higher on the back of risk appetite

The Australian Dollar: USD/AUD (AUD=X) and New Zealand dollars trading higher on the back of risk appetite

The Australian Dollar: USD/AUD (AUD=X) and New Zealand dollars trading higher on the back of risk appetite The Australian and New Zealand dollars traded higher on the back of risk appetite. Data from Australia was also good with price pressures rising slightly in the third quarter. On a quarterly basis, CPI rose 0.5%, which was in […]

Euro: USD/EUR (EUR=X) Sellers Take a Swing, Find Fibonacci Support

Euro: USD/EUR (EUR=X) Sellers Take a Swing, Find Fibonacci Support

Euro: USD/EUR (EUR=X) Sellers Take a Swing, Find Fibonacci Support With the late-showing of USD strength during the accompanying press conference EUR/USD sellers began to push-lower on the chart. Support soon showed at a familiar level around 1.1082, which is the 38.2% Fibonacci retracement of the June-October bearish move. The lower-highs that have shown over the past […]

Japanese Yen: USD/JPY (JPY=X) Powell’s Optimism Drives Risk-On Rally

Japanese Yen: USD/JPY (JPY=X)  Powell’s Optimism Drives Risk-On Rally

Japanese Yen: USD/JPY (JPY=X) Powell’s Optimism Drives Risk-On Rally The Federal Reserve lowered interest rates for the third time this year by 25bp. While the move was widely expected, it triggered a small expansion in FX volatility. USD/JPY surged above 109 to a high of 109.28 before u-turning lower while EUR/USD dropped to 1.1080 and […]

British Pound: USD/GBP (GBP=X) showing signs of support at the 1.28 level

British Pound: USD/GBP (GBP=X) showing signs of support at the 1.28 level

British Pound: USD/GBP (GBP=X) showing signs of support at the 1.28 level The British pound has pulled back a bit during the trading session on Tuesday, showing signs of support at the 1.28 level. The market bouncing from there is a good sign, as we continue to see reasons for value hunting. The British pound has pulled […]

Euro: USD/EUR (EUR=X) support near the 1.1075 level as we continue to go back and forth

Euro: USD/EUR (EUR=X) support near the 1.1075 level as we continue to go back and forth

Euro: USD/EUR (EUR=X) support near the 1.1075 level as we continue to go back and forth The Euro has initially fallen during the trading session on Tuesday, showing signs of weakness yet again, but we have a move higher that has shown that the market is ready to continue to go back and forth. The market […]

Australian Dollar: USD/AUD (AUD=X) Advances On Weak US Consumer Confidence & Despite A Dovish Dr Lowe

Australian Dollar: USD/AUD (AUD=X) Advances On Weak US Consumer Confidence & Despite A Dovish Dr Lowe

Australian Dollar: USD/AUD (AUD=X) Advances On Weak US Consumer Confidence & Despite A Dovish Dr Lowe Australian CPI is released each quarter, magnifying the impact of each release. The indicator posted a gain of 0.6% in the second quarter, but is expected to tick lower to 0.5% in Q3. A reading which misses the forecast […]

Canadian Dollar: USD/CAD (CAD=X) Focus on Bank of Canada meeting

Canadian Dollar: USD/CAD (CAD=X) Focus on Bank of Canada meeting

Canadian Dollar: USD/CAD (CAD=X) Focus on Bank of Canada meeting The Canadian dollar wasn’t paid any heed overnight. The rest of the G-10 major currencies didn’t fare much differently due to caution ahead of the U.S. Federal Open Market Committee (FOMC) meeting, and Bank of Canada meeting tomorrow. Nevertheless, a speech by Reserve Bank of […]

Japanese Yen: USD/JPY (JPY=X) further upside may be on the horizon

Japanese Yen: USD/JPY (JPY=X) further upside may be on the horizon

Japanese Yen: USD/JPY (JPY=X) further upside may be on the horizon USD/JPY has traded below its 200DMA since the beginning of May and today is no different with the pair rejecting 109.05. However, as investors continue to pile in USD/JPY longs further upside may be on the horizon, which in turn would see USD/JPY above the 200DMA. […]

New Zealand Dollar: NZD/USD (NZD=X) pushing higher

New Zealand Dollar: NZD/USD (NZD=X) pushing higher

New Zealand Dollar: NZD/USD (NZD=X) pushing higher There is a risk-on feel in the air in Asian trade today and the Aussie and Kiwi are both pushing higher. Overnight, there was certainly optimism around as US President Trump suggested that he expected to sign a significant part of the trade deal with China ahead of […]

Canadian Dollar: USD/CAD (CAD=X) remains range-bound

Canadian Dollar: USD/CAD (CAD=X) remains range-bound

Canadian Dollar: USD/CAD (CAD=X) remains range-bound USD/CAD remains range-bound. In Monday’s North American session, the pair is trading at 1.3059, down 0.04% on the day. There are no Canadian events on the schedule. Technical Analysis 1.3070 is a fluid line. Currently, it is an immediate resistance line. Below, we find support at 1.3040, which has held […]

New Zealand Dollar: NZD/USD (NZD=X) pressured by a firmer U.S. Dollar and rising Treasury yields

New Zealand Dollar: NZD/USD (NZD=X) pressured by a firmer U.S. Dollar and rising Treasury yields

New Zealand Dollar: NZD/USD (NZD=X) pressured by a firmer U.S. Dollar and rising Treasury yields The Australian and New Zealand Dollars closed lower last week, pressured by a firmer U.S. Dollar and rising Treasury yields. Fundamentally, investors were shaken by new uncertainties over Brexit, which raised enough concerns to offset any positive developments over U.S.-China […]

British Pound: USD/GBP (GBP=X) Starting To Bounce Again

British Pound: USD/GBP (GBP=X) Starting To Bounce Again

British Pound: USD/GBP (GBP=X) Starting To Bounce Again The British pound has rallied slightly during the trading session on Monday as traders came back to work. The Brexit headlines of course continue to throw the spear around, but technically speaking we have changed the trend overall. The British pound rallied during the trading session on Monday, showing […]

Euro: USD/EUR (EUR=X) potentially running into resistance

Euro: USD/EUR (EUR=X) potentially running into resistance

Euro: USD/EUR (EUR=X) potentially running into resistance The Euro rallied a bit during the early part of Monday but continues to see a lot of resistance just above. In fact, the 1.11 level is now going to offer a bit of resistance potentially, and if that’s going to be the case it’s likely that the […]

Australian Dollar: USD/AUD (AUD=X) resistance at 6833

Australian Dollar: USD/AUD (AUD=X) resistance at 6833

Australian Dollar: USD/AUD (AUD=X) resistance at 6833 Aussie is approaching near-term uptrend support at 6801/09. Initial resistance at 6833 backed by 6854- breach there is needed to mark resumption. A downside break threatens a larger correction with such a scenario 6777. Technical Indicators Overall, the bias in prices is: Sideways. The projected upper bound is: 0.69. The projected lower bound […]

Japanese Yen: USD/JPY (JPY=X) Fed Rate Cut Priced In, BOJ Rate Decision Uncertain

Japanese Yen: USD/JPY (JPY=X) Fed Rate Cut Priced In, BOJ Rate Decision Uncertain

Japanese Yen: USD/JPY (JPY=X) Fed Rate Cut Priced In, BOJ Rate Decision Uncertain Strong demand for risky assets and a surge in U.S. Treasury yields are helping to drive the Dollar/Yen higher on Monday. The moves are being eased by the hope of a trade deal between the United States and China, the lifting of […]

Canadian Dollar: USD/CAD (CAD=X) on the brink a big drop, but has support nearby

Canadian Dollar: USD/CAD (CAD=X) on the brink a big drop, but has support nearby

Canadian Dollar: USD/CAD (CAD=X) on the brink a big drop, but has support nearby The US Dollar Index (DXY) bounced last week after a tough three weeks. Is it another swing-low as has happened after minor sell-offs during the past few months, or only a small bounce before testing larger support? In the past the […]

British Pound: USD/GBP (GBP=X) remains volatile and declining

British Pound: USD/GBP (GBP=X) remains volatile and declining

British Pound: USD/GBP (GBP=X) remains volatile and declining GBP/USD remains volatile and declined by 1.1% last week. There are only three events in the upcoming week. Here is an outlook for the highlights of the upcoming week and an updated technical analysis for GBP/USD. The impressive pound rally ended last week, as the British parliament voted down a […]

Euro: USD/EUR (EUR=X) to extend higher following a pull-back

Euro: USD/EUR (EUR=X) to extend higher following a pull-back

Euro: USD/EUR (EUR=X) to extend higher following a pull-back The Euro-to-Dollar rate is trading at around 1.1079 at the start of the new week after falling 0.81% in the week before. Studies of the charts continue to show the pair in a short-term uptrend, however, which is favoured to extend albeit through tough resistance which […]

Australian Dollar: USD/AUD (AUD=X) this week features CPI and Chinese manufacturing PMIs

Australian Dollar: USD/AUD (AUD=X) this week features CPI and Chinese manufacturing PMIs

Australian Dollar: USD/AUD (AUD=X) this week features CPI and Chinese manufacturing PMIs AUD/USD climbed to 6-week highs early last week, but was unable to consolidate and lost ground last week. This week features CPI and Chinese manufacturing PMIs. Here is an outlook at the highlights and an updated technical analysis for AUD/USD. There were no major Australian […]

Japanese Yen: USD/JPY (JPY=X) risk appetite remains fairly strong

Japanese Yen: USD/JPY (JPY=X) risk appetite remains fairly strong

Japanese Yen: USD/JPY (JPY=X) risk appetite remains fairly strong Dollar/yen showed little movement for a second straight week. It’s a busy week in Japan, with inflation and retail sales reports, as well as the Bank of Japan rate decision. In Japan, inflation levels remain weak. The BoJ Core CPI, the bank’s preferred inflation gauge, dipped to […]

Gold Retakes Key $1,500 oz Mark

Gold Retakes Key $1,500 oz Mark

$XAU, $XAG, $GLD, $SLV, $USD Gold prices climbed above the Key $1,500 mark Thursday to mark their highest finish in about two weeks, as a monthly drop in U.S. durable goods orders buoyed haven appeal for the metal. The dismal durable goods number is helping boost gold prices as recession fears are again on the […]

Japanese Yen: USD/JPY (JPY=X) Bullish Development

Japanese Yen: USD/JPY (JPY=X) Bullish Development

Japanese Yen: USD/JPY (JPY=X) Bullish Development From the daily chart, we notice on Oct 3 USD/JPY stopped its downtrend move. On Oct 7 the price closed above 50-day average changing its course to the upside then printing 108.93 -its highest level in over six weeks. Today, USDJPY moves in a lower trading zone 107.30 – […]

British Pound: USD/GBP (GBP=X) showing signs of choppiness and noisy trading

British Pound: USD/GBP (GBP=X) showing signs of choppiness and noisy trading

British Pound: USD/GBP (GBP=X) showing signs of choppiness and noisy trading The British pound has gone back and forth during the trading session on Thursday, showing signs of choppiness and noisy trading yet again. At this point, it’s very likely that the market will continue to see headlines push the market around. The British pound has gone […]

Canadian Dollar: USD/CAD (CAD=X) Can Fall Further

Canadian Dollar: USD/CAD (CAD=X) Can Fall Further

Canadian Dollar: USD/CAD (CAD=X) Can Fall Further The US Dollar has had a rough October, with the Dollar Basket (DXY) falling from 99.67 to 97.66 at the time of writing. The persistent bearishness has pressured DXY to test the 200-day moving average around 97.40 and should the basket break beneath support, it could open the […]

Australian Dollar: USD/AUD (AUD=X) Looks as if we are going to continue to fall

Australian Dollar: USD/AUD (AUD=X) Looks as if we are going to continue to fall

Australian Dollar: USD/AUD (AUD=X) Looks as if we are going to continue to fall The Australian dollar initially try to rally during the training session on Thursday but then felt to break down below the bottom of the hammer that had formed during the previous day. That being said, it looks as if we are […]

Euro: USD/EUR (EUR=X) Losing Steam

Euro: USD/EUR (EUR=X) Losing Steam

Euro: USD/EUR (EUR=X) Losing Steam The Euro rallied a bit during the trading session on Thursday, but as the ECB press conference kicked off it pulled back slightly. This shows a lot of confusion to say the least, and therefore it’s likely that we will continue to see market participants confused. The Euro continues to see […]

New Zealand Dollar: NZD/USD (NZD=X) Target 0.62

New Zealand Dollar: NZD/USD (NZD=X) Target 0.62

New Zealand Dollar: NZD/USD (NZD=X) Target 0.62 NZD/USD NZD/USD is slightly lower in Thursday trade. In the European session, the pair is trading at 0.6402, down 0.25% on the day. NZD/USD Technical Analysis NZD/USD tested resistance at 0.6420 in the Asian session. This line is proving to be resilient and has held firm since mid-September. Traders […]

Euro: USD/EUR (EUR=X) dipped initially but has failed to hang onto the losses

Euro: USD/EUR (EUR=X) dipped initially but has failed to hang onto the losses

Euro: USD/EUR (EUR=X) dipped initially but has failed to hang onto the losses The Euro has broken down during the trading session on Wednesday, reaching below to the 1.11 handle. This is an area that cost a bit of support though, and the candlestick is starting to look rather bullish. However, I don’t necessarily think that it […]

New Zealand Dollar: NZD/USD (NZD=X) Trade Deficit Drops, Beats Forecast

New Zealand Dollar: NZD/USD (NZD=X) Trade Deficit Drops, Beats Forecast

New Zealand Dollar: NZD/USD (NZD=X) Trade Deficit Drops, Beats Forecast New Zealand’s trade deficit narrowed to NZ$1.24 billion in September, dropping sharply from the deficit of NZ$1.56 billion in August. This beat the estimate of NZ$1.37 billion. The improvement was credited to stronger sales of meat and milk, both of which are key export products. […]

Japanese Yen: USD/JPY (JPY=X) to remain under pressure until the European Union (EU) responds to the request to delay the current Brexit deadline

Japanese Yen: USD/JPY (JPY=X) to remain under pressure until the European Union (EU) responds to the request to delay the current Brexit deadline

Japanese Yen: USD/JPY (JPY=X) to remain under pressure until the European Union (EU) responds to the request to delay the current Brexit deadline The Dollar/Yen is edging lower on Wednesday as Brexit confusion weighed on investor appetite for risk, sending them into the perceived safety of the Japanese currency. The catalyst generating the move into […]

Canadian Dollar: USD/CAD (CAD=X) Wholesales Sales Slide

Canadian Dollar: USD/CAD (CAD=X) Wholesales Sales Slide

Canadian Dollar: USD/CAD (CAD=X) Wholesales Sales Slide It has been a disappointing week for Canadian indicators. Retail sales for August were released on Tuesday, and both the headline and core readings showed declines. On Wednesday, Wholesale sales declined by 1.2%, down from a gain of 1.7% in the previous release. Despite the soft numbers, the […]

British Pound: USD/GBP (GBP=X) flat as Brexit uncertainty continues to haunt markets

British Pound: USD/GBP (GBP=X) flat as Brexit uncertainty continues to haunt markets

British Pound: USD/GBP (GBP=X) flat as Brexit uncertainty continues to haunt markets Sterling remained under pressure today as Boris Johnson’s plans to take the UK out of the European Union on October 31were halted by an unyielding parliament. While the House of Commons approved the Prime Minister’s initial Brexit Withdrawal Agreement bill with a majority of […]

Australian Dollar: USD/AUD (AUD=X) domestic fundamentals to dominate over the next year

Australian Dollar: USD/AUD (AUD=X) domestic fundamentals to dominate over the next year

Australian Dollar: USD/AUD (AUD=X) domestic fundamentals to dominate over the next year The Australian Dollar was softer across the board Wednesday as the U.S. greenback stabilised and optimism about progress in the Brexit process ebbed, leading one trader to tip more losses in the short-term, but institutional views on the outlook for the Aussie do […]

Asia: Gold, Crude Oil, Stocks, Commodities and Currency Pairs

Asia: Gold, Crude Oil, Stocks, Commodities and Currency Pairs

$XAU, $GLD, $USD, $USO, $OIL FLASH: Gold Steady, USD Up, Crude Oil Flat, Stocks Off Headlines Asia shares slip on BREXIT snag Crude Oil prices fell after data showed US stocks rose more than expected last week. Gold holds steady, as technical buying gives support Gold: Gold prices were largely unchanged Wednesday, as investors awaited more clarity on […]

Euro: USD/EUR (EUR=X) seeing some mild selling pressure

Euro: USD/EUR (EUR=X) seeing some mild selling pressure

Euro: USD/EUR (EUR=X) seeing some mild selling pressure EUR/USD settled slightly lower on Monday to end a four consecutive day rally. The pair is seeing some mild selling pressure and is nearing an important support confluence. EUR/USD has had an impressive gain in October thus far, aided by demand for Sterling as the odds of […]

Australian Dollar: USD/AUD (AUD=X) In the Green

Australian Dollar: USD/AUD (AUD=X) In the Green

Australian Dollar: USD/AUD (AUD=X) In the Green Last week, Aussie and Kiwi Dollar corrected higher against US Dollar. On Friday, AUD/USD closed the weekly candlestick with a 0.9% gain. Meanwhile, NZD/USD ended the weekly session with nearly 0.8% gain. Alongside this, the relative Strength Index (RSI) crossed above 50 reflecting the end of the downtrend […]

Canadian Dollar: USD/CAD (CAD=X) Bears Still in Control

Canadian Dollar: USD/CAD (CAD=X) Bears Still in Control

Canadian Dollar: USD/CAD (CAD=X) Bears Still in Control In Monday night’s federal election, Prime Minister Justin Trudeau fought off a stout challenge from Conservative candidate Andrew Scheer to win his second term, with the generally strong Canadian economy playing a heavy role in supporting the incumbent. As we noted in last week’s election preview report, the economy […]

British Pound: USD/GBP (GBP=X) Johnson pauses quest to pass Brexit deal

British Pound: USD/GBP (GBP=X) Johnson pauses quest to pass Brexit deal

British Pound: USD/GBP (GBP=X) Johnson pauses quest to pass Brexit deal The British Pound shed further ground against the Euro, Dollar and other major currencies on Tuesday night after Prime Minister Boris Johnson pressed the pause button on the progress of his Brexit deal through Parliament. The House of Commons voted by a margin of […]

New Zealand Dollar: NZD/USD (NZD=X) Ignores Soft Cons. Spending Report

New Zealand Dollar: NZD/USD (NZD=X) Ignores Soft Cons. Spending Report

New Zealand Dollar: NZD/USD (NZD=X) Ignores Soft Cons. Spending Report New Zealand Credit Card Spending for September gained 4.8% in September, sharply lower than the August gain of 6.0%. This points to lower consumer spending, a key driver of economic activity. Still, the New Zealand dollar is in positive territory on Tuesday. We’ll get a […]

Japanese Yen: USD/JPY (JPY=X) currently trading around a pivotal technical juncture

Japanese Yen: USD/JPY (JPY=X) currently trading around a pivotal technical juncture

Japanese Yen: USD/JPY (JPY=X) currently trading around a pivotal technical juncture Once again drawn to the USD/JPY’s price action. Not that it has moved a lot – far from it – but because there is the potential for a sharp, technically-driven, move. As mentioned, rates haven’t moved much higher after breaking through 108.45 key resistance […]

Asia: Gold, Crude Oil, Stocks, Commodities and Currency Pairs

Asia: Gold, Crude Oil, Stocks, Commodities and Currency Pairs

$XAU, $GLD, $USD, $USO, $OIL FLASH: Gold Steady, USD Up, Crude Oil Flat, Stocks Up Headlines Crude Oil prices were little changed Tuesday Gold prices steady as US-China trade optimism sparks market cheer Investors await FOMC meeting at the end of the month Gold: Gold was muted Tuesday, weighed down by buoyant Asian shares that cheered […]

Euro: USD/EUR (EUR=X) currently a bit overstretched

Euro: USD/EUR (EUR=X) currently a bit overstretched

Euro: USD/EUR (EUR=X) currently a bit overstretched The Euro did very little during the day on Monday, as we continue to grind back and forth. The market is currently a bit overstretched, so I would not be surprised at all to see a bit of a pullback coming. The Euro has been relatively quiet during the day […]

New Zealand Dollar: NZD/USD (NZD=X) Prolonged Short-Squeeze Could Drive Kiwi into .6451 Over Near-Term

New Zealand Dollar: NZD/USD (NZD=X) Prolonged Short-Squeeze Could Drive Kiwi into .6451 Over Near-Term

New Zealand Dollar: NZD/USD (NZD=X) Prolonged Short-Squeeze Could Drive Kiwi into .6451 Over Near-Term Optimism over Brexit may be behind the New Zealand Dollar’s early strength on Monday, however, the move is likely being fueled by a short-squeeze that began last week following the release of a report showing a slight improvement in quarterly consumer […]

British Pound: USD/GBP (GBP=X) awaits withdrawal agreement amendents, EU response to Brexit delay request

British Pound: USD/GBP (GBP=X) awaits withdrawal agreement amendents, EU response to Brexit delay request

British Pound: USD/GBP (GBP=X) awaits withdrawal agreement amendents, EU response to Brexit delay request GBP/USD eclipsed the 1.3000 price level momentarily this morning as the fading risk of no-deal Brexit continues to bolster the cable. Similarly, gains in the British Pound has pushed spot EUR/GBP prices back below the 0.8600 handle. The most recent extension to the […]

Australian Dollar: USD/AUD (AUD=X) enjoys fourth day of gains amid risk-on mood in global markets

Australian Dollar: USD/AUD (AUD=X) enjoys fourth day of gains amid risk-on mood in global markets

Australian Dollar: USD/AUD (AUD=X) enjoys fourth day of gains amid risk-on mood in global markets The Australian Dollar climbed for a fourth consecutive session Monday as an upbeat mood in global markets continued to lift risk assets but analysts are divided over the outlook, with some telling clients the antipodean unit’s rally could soon fizzle out […]

Canadian Dollar: USD/CAD (CAD=X) traders brace for Canada federal election

Canadian Dollar: USD/CAD (CAD=X) traders brace for Canada federal election

Canadian Dollar: USD/CAD (CAD=X) traders brace for Canada federal election The Canadian Dollar may fall ahead of the Canadian federal election. Liberal Party Prime Minister Justin Trudeau is in the fight for his political life as the leader of the Conservative Party Andrew Scheer closely follows the incumbent in the polls. The most likely result […]

Japanese Yen: USD/JPY (JPY=X) US Dollar Quiet Against Japanese Yen

Japanese Yen: USD/JPY (JPY=X) US Dollar Quiet Against Japanese Yen

Japanese Yen: USD/JPY (JPY=X) US Dollar Quiet Against Japanese Yen The US dollar did very little during the trading session on Monday, as traders came back from the weekend. Quite frankly, this looks as if it’s a market that doesn’t seem to want to go anywhere. The US dollar has done very little during the trading […]

Russia’s Huge Gold Hoard Protects Its Economy

Russia’s Huge Gold Hoard Protects Its Economy

$XAU, $OIL, $USD A Russia official reportedly has declared that Moscow can thrive despite falling Crude Oil prices because of its massive gold holdings and the government’s efforts to reduce reliance on energy resources, Russian Finance Minister Anton Siluanov said that while Moscow is satisfied with the current price of Crude Oil, possible market turmoil will […]

Japanese Yen: USD/JPY (JPY=X) investors will be keeping an eye on U.S. durable goods orders and consumer confidence

Japanese Yen: USD/JPY (JPY=X) investors will be keeping an eye on U.S. durable goods orders and consumer confidence

Japanese Yen: USD/JPY (JPY=X) investors will be keeping an eye on U.S. durable goods orders and consumer confidence Japan’s consumer inflation remains subdued. National Core CPI dipped to 0.3% in August, down from 0.5% a month earlier. This was the indicator’s weakest gain since March 2017. BoJ Governor Kuroda noted that CPI is around 0.5%, […]

British Pound: USD/GBP (GBP=X) UK Parliament delays vote on Johnson’s Brexit deal

British Pound: USD/GBP (GBP=X) UK Parliament delays vote on Johnson’s Brexit deal

British Pound: USD/GBP (GBP=X) UK Parliament delays vote on Johnson’s Brexit deal The British Pound may gap lower at the start of this week’s trading session. Over the weekend, the UK Parliament voted to delay a definitive vote on Prime Minister Boris Johnson’s Brexit deal. This past week Sterling has been picking up gains on […]

Australian Dollar: USD/AUD (AUD=X) Could Wilt if Brexit Delayed, Growth Risks Hang

Australian Dollar: USD/AUD (AUD=X) Could Wilt if Brexit Delayed, Growth Risks Hang

Australian Dollar: USD/AUD (AUD=X) Could Wilt if Brexit Delayed, Growth Risks Hang The Australian Dollar spent most of last week rallying against major currencies such as the US Dollar and Japanese Yen but underperformed against the British Pound. Domestically, it could thank a drop in Australian unemployment which almost entirely took off bets of a November RBA rate cut. Meanwhile, hopes of a Brexit deal […]

British Pound: USD/GBP (GBP=X) slumps just hours after soaring to five-month high as investors fear DUP will torpedo Brexit deal

British Pound: USD/GBP (GBP=X) slumps just hours after soaring to five-month high as investors fear DUP will torpedo Brexit deal

British Pound: USD/GBP (GBP=X) slumps just hours after soaring to five-month high as investors fear DUP will torpedo Brexit deal The pound had a tumultuous day against the dollar today after Prime Minister Boris Johnson revealed a Brexit deal had been agreed with the European Union . Sterling rose by 1 per cent this morning […]

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