2020: Wall Street Extends Rally Ahead of a Long Holiday Weekend

2020: Wall Street Extends Rally Ahead of a Long Holiday Weekend

$DIA, $SPY, $QQQ, $RUTX, $VXX As a reminder, the market will be closed on Monday for Martin Luther King Jr. Day. Friday: Overall, it was a relatively subdued session that had the potential for even more gainers, as housing starts rose to their highest level in 13 years in December, China’s industrial production rose more […]

Euro: USD/EUR (EUR=X) Strengthening the Correction

Euro: USD/EUR (EUR=X) Strengthening the Correction

Euro: USD/EUR (EUR=X) Strengthening the Correction For five consecutive trading sessions, the price of the EUR/USD pair is trying hard to strengthen the opportunity for an upward correction and break through the 1.1200 psychological resistance, but the pair gains did not exceed the 1.1163 level, despite the announcement of many important economic data and influential […]

New Zealand Dollar: NZD/USD (NZD=X) Momentum Shift May Lead to Test of .6671 – .6692

New Zealand Dollar: NZD/USD (NZD=X) Momentum Shift May Lead to Test of .6671 – .6692

New Zealand Dollar: NZD/USD (NZD=X) Momentum Shift May Lead to Test of .6671 – .6692 The New Zealand Dollar is strengthening against the U.S. Dollar on Thursday, following through on the move from the previous session that reversed earlier losses. The currency is likely being supported by hopes the U.S.-China trade deal, signed on Wednesday, […]

Canadian Dollar: USD/CAD (CAD=X) Supported by Positive Risk Sentiment

Canadian Dollar: USD/CAD (CAD=X) Supported by Positive Risk Sentiment

Canadian Dollar: USD/CAD (CAD=X) Supported by Positive Risk Sentiment The Canadian dollar is trading sideways. It bounced around in a narrow USD/CAD range of $1.3035-$1.3046 overnight, unable to garner any traction in either direction. There aren’t any top-tier domestic economic data available until next Wednesday when the Canadian inflation report is released. That is the […]

Australian Dollar: USD/AUD (AUD=X) Support Cluster at .6894 to .6892

Australian Dollar: USD/AUD (AUD=X) Support Cluster at .6894 to .6892

Australian Dollar: USD/AUD (AUD=X) Support Cluster at .6894 to .6892 The Australian Dollar surged to the upside on Friday and finished the session higher in the wake of a weaker-than-expected U.S. jobs report. Optimism over the impact of the U.S.-China trade deal may have also played a role in encouraging short-sellers to book profits after […]

Japanese Yen: USD/JPY (JPY=X) Trader Reaction to Former Tops Will Set the Tone

Japanese Yen: USD/JPY (JPY=X) Trader Reaction to Former Tops Will Set the Tone

Japanese Yen: USD/JPY (JPY=X) Trader Reaction to Former Tops Will Set the Tone The Dollar/Yen is trading lower early Wednesday as currency investors awaited the signing of the U.S.-China trade deal with trepidation. The formal agreement is designed to draw a line under 18-months of back-and-forth tariffs that hurt global economic growth. However, to the […]

Euro: USD/EUR (EUR=X) Continues To Consolidate

Euro: USD/EUR (EUR=X) Continues To Consolidate

Euro: USD/EUR (EUR=X) Continues To Consolidate The Euro initially tried to rally during the trading session on Tuesday but found the 200 day EMA to be a bit too restrictive to reach to the upside for any significant amount of distance. We also broke down but haven’t necessarily broken any support levels either. The 1.11 […]

British Pound: USD/GBP (GBP=X) Building Support Against Greenback

British Pound: USD/GBP (GBP=X) Building Support Against Greenback

British Pound: USD/GBP (GBP=X) Building Support Against Greenback The British pound has gone back and forth during the trading session on Tuesday, as we continue to see a lot of interest around the 50 day EMA. Furthermore, we are dancing around the 1.30 level, so it looks very likely that this level will continue to […]

Canadian Dollar: USD/CAD (CAD=X) Bearish Momentum Enough to Add to Downtrend?

Canadian Dollar: USD/CAD (CAD=X) Bearish Momentum Enough to Add to Downtrend?

Canadian Dollar: USD/CAD (CAD=X) Bearish Momentum Enough to Add to Downtrend? US Dollar weakness is expected to accelerate in 2020, and the Canadian Dollar was one of the best performers against the world’s top reserve currency. The most recent intra-day low in the USD/CAD marked a lower low, keeping the long-term downtrend intact. A recovery […]

Euro: USD/EUR (EUR=X) Lingers Around Moving Average Confluence

Euro: USD/EUR (EUR=X) Lingers Around Moving Average Confluence

Euro: USD/EUR (EUR=X) Lingers Around Moving Average Confluence EUR/USD extended higher on Monday but the rally appears to have stalled at a moving average confluence. The latest inflation data from the United States will be released later in the session which should trigger volatility and ultimately indicate if the pair is to reverse lower from […]

British Pound: USD/GBP (GBP=X) Holds Near Important Support Level

British Pound: USD/GBP (GBP=X) Holds Near Important Support Level

British Pound: USD/GBP (GBP=X) Holds Near Important Support Level GBP/USD is showing resilience as it holds above a major technical level despite several recent developments. Last week, several members of the Bank of England expressed their dovish views towards monetary policy and that easing might be needed to support the economy. Yesterday’s GDP report from […]

Canadian Dollar: USD/CAD (CAD=X) Bulls Suffering

Canadian Dollar: USD/CAD (CAD=X) Bulls Suffering

Canadian Dollar: USD/CAD (CAD=X) Bulls Suffering Canadian dollar bulls are taking it on the chin. The sharp reversal in oil prices from their recent peak and positive U.S. sentiment around the U.S./China Phase 1 trade deal as fueled widespread U.S. dollar demand against the G-10 major currencies and the Canadian dollar is collateral damage. Those […]

Australian Dollar: USD/AUD (AUD=X) carving weekly opening-range just below technical resistance

Australian Dollar: USD/AUD (AUD=X) carving weekly opening-range just below technical resistance

Australian Dollar: USD/AUD (AUD=X) carving weekly opening-range just below technical resistance AUD/USD has continued to trade within the confines of this ascending pitchfork formation extending off the October / November lows with daily resistance eyed at the median-line / 61.8% retracement at 6927 – a topside breach / close above is needed to validate a […]

Japanese Yen: USD/JPY (JPY=X) gains, yuan weakens on report tariffs on China to stay through US election

Japanese Yen: USD/JPY (JPY=X) gains, yuan weakens on report tariffs on China to stay through US election

Japanese Yen: USD/JPY (JPY=X) gains, yuan weakens on report tariffs on China to stay through US election China’s yuan weakened on Tuesday and the Japanese yen reversed earlier losses after a report that the United States will keep tariffs on Chinese goods through the U.S. election hurt risk sentiment. The news came a day before […]

Gold Market Pulls Back

Gold Market Pulls Back

$XAU, $GLD Gold markets initially pulled back during the trading session Monday but turned around to recover some. It is currently hanging around the 1550 mark, an area that had seen a gap higher previously. The markets are trying to feel out whether or not there is a “risk on” or “risk off” flavor to everything. […]

Canadian Dollar: USD/CAD (CAD=X) Seeks Direction

Canadian Dollar: USD/CAD (CAD=X) Seeks Direction

Canadian Dollar: USD/CAD (CAD=X) Seeks Direction The Canadian dollar tried to rally last week but failed. Slightly dovish comments by Bank of Canada Governor Stephen Poloz combined with broad-based U.S. dollar demand against the major G-10 currencies and a sharp drop in West Texas Intermediate oil prices, fueled Canadian dollar selling. Canadian dollar bulls hoped […]

British Pound: USD/GBP (GBP=X) Falls After Anemic GDP Figures

British Pound: USD/GBP (GBP=X) Falls After Anemic GDP Figures

British Pound: USD/GBP (GBP=X) Falls After Anemic GDP Figures The British pound has broken down significantly during the trading session on Monday to kick off the week, slicing through the 1.30 level. However, we are starting to see signs of support just below that area, as we have bounced from there previously. The question now […]

Australian Dollar: USD/AUD (AUD=X) trying to break out

Australian Dollar: USD/AUD (AUD=X) trying to break out

Australian Dollar: USD/AUD (AUD=X) trying to break out The Australian dollar has rallied a bit during the trading session on Monday, breaking above the 0.69 level before pulling back a bit. However, this is a market that is trying to break out, and if we can clear the top of the range for the trading […]

Japanese Yen: USD/JPY (JPY=X) US Dollar Slamming Into Resistance

Japanese Yen: USD/JPY (JPY=X) US Dollar Slamming Into Resistance

Japanese Yen: USD/JPY (JPY=X) US Dollar Slamming Into Resistance The US dollar has rallied quite a bit during the trading session on Monday, reaching towards the ¥110 level. That’s an area that is significant resistance that the market has acknowledged for some time. If we were to break above there for a significant amount of […]

Euro: USD/EUR (EUR=X) Will the Dollar Take the Spotlight Again this Week?

Euro: USD/EUR (EUR=X) Will the Dollar Take the Spotlight Again this Week?

Euro: USD/EUR (EUR=X) Will the Dollar Take the Spotlight Again this Week? The US dollar dominated the major currencies last week and the trade-weighted index (DXY) made a notable technical development. DXY had been trading in a range from the last week of December until the middle of last week but broke higher from the […]

Australian Dollar: USD/AUD (AUD=X) Support Cluster at .6894 to .6892

Australian Dollar: USD/AUD (AUD=X) Support Cluster at .6894 to .6892

Australian Dollar: USD/AUD (AUD=X) Support Cluster at .6894 to .6892 The Australian Dollar surged to the upside on Friday and finished the session higher in the wake of a weaker-than-expected U.S. jobs report. Optimism over the impact of the U.S.-China trade deal may have also played a role in encouraging short-sellers to book profits after […]

Japanese Yen: USD/JPY (JPY=X) Could Break Sharply if Sellers Take Out 109.361

Japanese Yen: USD/JPY (JPY=X) Could Break Sharply if Sellers Take Out 109.361

Japanese Yen: USD/JPY (JPY=X) Could Break Sharply if Sellers Take Out 109.361 The Dollar/Yen finished lower on Friday after hitting its highest level since December 13. The price action indicates that buyers are still hesitating just slightly below the May 30 top at 109.930. The greenback fell from a four-week high against the safe-haven Japanese […]

Euro: USD/EUR (EUR=X) showing an attraction to the 1.12 handle

Euro: USD/EUR (EUR=X) showing an attraction to the 1.12 handle

Euro: USD/EUR (EUR=X) showing an attraction to the 1.12 handle The Euro rallied a bit during the beginning of the week, showing an attraction to the 1.12 handle. That’s an area that has offered resistance in the past, and we did in fact break down from there rather significantly. The 1.11 handle is what the […]

Gold Prices Set Up to Pull Back

Gold Prices Set Up to Pull Back

$XAU $GLD Gold markets had a volatile week, breaking above the 1600 mark fell rto form a Shooting Star. The pattern was at the recent highs, so, it is likely that the market is ready to pull back from here. By breaking below the bottom of the weekly candlestick, it is likely that the longer-term trade […]

Canadian Dollar: USD/CAD (CAD=X) Bulls Seem Deceptive After Trendline Breakdown

Canadian Dollar: USD/CAD (CAD=X) Bulls Seem Deceptive After Trendline Breakdown

Canadian Dollar: USD/CAD (CAD=X) Bulls Seem Deceptive After Trendline Breakdown USDCAD closed out 2019 on the defensive and made a crucial weekly/monthly close below long-term support zone of (1.2950 – 1.3165) drawn off the 2015-17 support zone for the USD on the longer run charts. Although the pair has been attempting show some minor rallies from last 2-3 […]

Japanese Yen: USD/JPY (JPY=X) US Dollar Continues To Rally Against Safety Currency Japanese Yen

Japanese Yen: USD/JPY (JPY=X) US Dollar Continues To Rally Against Safety Currency Japanese Yen

Japanese Yen: USD/JPY (JPY=X) US Dollar Continues To Rally Against Safety Currency Japanese Yen The US dollar has rallied quite nicely against the Japanese yen during the trading session on Thursday, as more of a “risk on” move has come back into play. After the tensions in the Middle East settled down, traders began to […]

Australian Dollar: USD/AUD (AUD=X) Continues To Hover

Australian Dollar: USD/AUD (AUD=X) Continues To Hover

Australian Dollar: USD/AUD (AUD=X) Continues To Hover The Australian dollar has gone back and forth during the trading session on Thursday, as we continue to hang around the 50 day EMA. We are sitting just above the previous downtrend line though, so it’s very likely that the buyers will come in and try to pick […]

Silver 1 OZ 999 NY (XAG=X) Update: Likely to Back Off Short Term

Silver 1 OZ 999 NY (XAG=X) Update: Likely to Back Off Short Term

Silver 1 OZ 999 NY (XAG=X) Update: Likely to Back Off Short Term Silver has shown strong moves in both directions on Wednesday, as the markets remain jumpy in the aftermath of the U.S. drone strike which killed an Iranian general and sent shock waves across the Middle East. Currently, silver is trading at $18.41, up […]

Australian Dollar: USD/AUD (AUD=X) falls back below 69 US cents, US trade deficit at three-year low

Australian Dollar: USD/AUD (AUD=X) falls back below 69 US cents, US trade deficit at three-year low

Australian Dollar: USD/AUD (AUD=X) falls back below 69 US cents, US trade deficit at three-year low The Australian dollar has fallen back below 69 US cents and is weaker against a basket of currencies, as the US dollar rises after America’s trade deficit fell to a three-year low. The Australian dollar traded above 70 US […]

Japanese Yen: USD/JPY (JPY=X) Rebounding after Trump Tweet Calms Investors

Japanese Yen: USD/JPY (JPY=X) Rebounding after Trump Tweet Calms Investors

Japanese Yen: USD/JPY (JPY=X) Rebounding after Trump Tweet Calms Investors The Dollar/Yen is trading slightly better shortly ahead of the U.S. opening. The Forex pair has erased all of its earlier losses, producing tremendous whip-saw action. The catalysts behind the volatile, two-sided price action are escalating tensions between the United States and Iran, and indications […]

Euro: USD/EUR (EUR=X) forecast to stabilise following sharp fall

Euro: USD/EUR (EUR=X) forecast to stabilise following sharp fall

Euro: USD/EUR (EUR=X) forecast to stabilise following sharp fall Volatility in the Euro-to-Dollar exchange rate has spiked over the past 24 hours after the Dollar rose sharply in response to some better-than-forecast U.S. data, and in the process drove the EUR/USD down half a percent. Meanwhile, news of an Iranian retaliation against the U.S. in […]

Gold: Would Not Chase it in Here

Gold: Would Not Chase it in Here

$XAU $GLD $USD Do not be surprised if gold moves to consolidate its gains or correct after this jump in prices, a big downturn is not likely on the cards if that happens. Gold’s latest rally comes on back of last week’s US airstrike near Baghdad’s airport that killed General Qassem Soleimani, 1 of Iran’s Top military […]

Japanese Yen: USD/JPY (JPY=X) to benefit on further Middle East tensions

Japanese Yen: USD/JPY (JPY=X) to benefit on further Middle East tensions

Japanese Yen: USD/JPY (JPY=X) to benefit on further Middle East tensions The Japanese Yen is expected to outperform other currencies on a material escalation in tensions between the U.S. and Iran, says Chris Turner, Global Head of Strategy and Head of EMEA and LATAM Research at ING Bank. “Were events in the Middle East to […]

Canadian Dollar: USD/CAD (CAD=X) Shows Resilience

Canadian Dollar: USD/CAD (CAD=X) Shows Resilience

Canadian Dollar: USD/CAD (CAD=X) Shows Resilience The Canadian demonstrated its resilience overnight. The U.S. dollar squeezed out gains against the major G-10 currencies, yet USD/CAD managed to remain below the psychologically important $1.3000 level. Markets are content to believe that U.S./Iran tensions have eased because Iran has yet to retaliate for the U.S. killing of […]

Gold Prices Surge, Bullion Nears 1600 oz.

Gold Prices Surge, Bullion Nears 1600 oz.

$GLD, $XAU, $SLV, $XAG, $USD, $NEM Gold rods to its highest mark since Y 2013 in the US session Monday, as rising tensions in the Middle East drives demand for havens, with Goldman Sachs (NYSE:GS) seeing more room to run. Palladium, the most precious, extended gains to a fresh record. Bullion neared 1,600 oz after […]

2020: What to Watch For in Commodities

2020: What to Watch For in Commodities

$DIA $SPY $QQQ, $RUTX, $VXX, $SOY, $CORN, $XAU, $CU, $USO This is our 1st What to Watch in the commodities sector, it is an overview of what to expect. The picture mixed, complex picture that emerges. The list covers oil, gold, copper, iron ore, pork and more. The year’s 1st full week of trading could […]

Australian Dollar: USD/AUD (AUD=X) excellent opportunity for bulls

Australian Dollar: USD/AUD (AUD=X) excellent opportunity for bulls

Australian Dollar: USD/AUD (AUD=X) excellent opportunity for bulls After starting the first full week of the new year in a decidedly “risk off” position, markets are recovering into the US session close. For FX traders, the Australian dollar has long been the quintessential pro-growth currency, at least among the developed market majors, and the price […]

Japanese Yen: USD/JPY (JPY=X) Bearish Momentum Still Stronger

Japanese Yen: USD/JPY (JPY=X) Bearish Momentum Still Stronger

Japanese Yen: USD/JPY (JPY=X) Bearish Momentum Still Stronger Amid renewed global geopolitical tensions, particularly from North Korea and the Middle East region, it was natural to have a strong demand for safe havens, the most important of which is the Japanese Yen, and accordingly, the USD/JPY price declined for six consecutive trading sessions, reaching the […]

Euro: USD/EUR (EUR=X) German Retail Sales Tops Expectations in December

Euro: USD/EUR (EUR=X) German Retail Sales Tops Expectations in December

Euro: USD/EUR (EUR=X) German Retail Sales Tops Expectations in December Retail sales in Germany rose 2.1% last month, beating out the analyst estimate for a rise of 1.1%. It was the first time the data beat expectations since the summer. Services data was also better than expected with German, Italian, and Spanish PMI data all […]

British Pound: USD/GBP (GBP=X) UK Services Sector Improves in December

British Pound: USD/GBP (GBP=X) UK Services Sector Improves in December

British Pound: USD/GBP (GBP=X) UK Services Sector Improves in December Markit’s Services index was reported to rise to 50 in December to beat out the analyst estimate for a reading of 49.1. The data was welcomed by Sterling bulls after the latest manufacturing PMI data disappointed last week. GBP/USD experienced volatile trading in the first […]

Canadian Dollar: USD/CAD (CAD=X) broke long-term trend-line, 13000

Canadian Dollar: USD/CAD (CAD=X) broke long-term trend-line, 13000

Canadian Dollar: USD/CAD (CAD=X) broke long-term trend-line, 13000 USD/CAD closed the final week of last year with a charge below the 2012 trend-line, also creating a lower low from July by declining below 13000. Breaks during thinner holiday trade aren’t ideal, but for now will run with it as long as a sharp reversal doesn’t […]

Australian Dollar: USD/AUD (AUD=X) Forms Bearish Candle

Australian Dollar: USD/AUD (AUD=X) Forms Bearish Candle

Australian Dollar: USD/AUD (AUD=X) Forms Bearish Candle Overall, the bias in prices is: Sideways. By the way, prices are vulnerable to a correction towards 0.69. The projected upper bound is: 0.70. The projected lower bound is: 0.69. The projected closing price is: 0.69. Candlesticks A black body occurred (because prices closed lower than they opened). […]

Japanese Yen: USD/JPY (JPY=X) Safe-haven yen lifted, US dollar hits in Grim data after Qassem Soleimani strike

Japanese Yen: USD/JPY (JPY=X) Safe-haven yen lifted, US dollar hits in Grim data after Qassem Soleimani strike

Japanese Yen: USD/JPY (JPY=X) Safe-haven yen lifted, US dollar hits in Grim data after Qassem Soleimani strike Investors rushed into safe-haven assets on Friday after US airstrikes in Iraq killed a senior Iranian military official, sending the Japanese yen to a three-month high, while the US dollar index was knocked by the weakest domestic factory activity in a decade. In addition to the yen, US Treasuries, German […]

Euro: USD/EUR (EUR=X) Sinks on Rising German Joblessness

Euro: USD/EUR (EUR=X) Sinks on Rising German Joblessness

Euro: USD/EUR (EUR=X) Sinks on Rising German Joblessness The Euro US Dollar (EUR/USD) exchange rate fell by -0.3% today, with the pairing currently trading around $1.11 after December’s German Unemployment Change figure rose above forecasts to 8 thousand. Claus Vistesen, Chief Eurozone Economist at Pantheon Macroeconomics, was downbeat in his assessment, commenting: ‘A poor finish […]

British Pound: USD/GBP (GBP=X) Stats, Impeachment, and Brexit to Take a Back Seat as Iran Takes Center Stage

British Pound: USD/GBP (GBP=X) Stats, Impeachment, and Brexit to Take a Back Seat as Iran Takes Center Stage

British Pound: USD/GBP (GBP=X) Stats, Impeachment, and Brexit to Take a Back Seat as Iran Takes Center Stage On the Macro It’s a busy week ahead on the economic calendar, with 51 stats to monitor. In the previous week, just 27 stats had been in focus. Following the holiday season and lack of stats to […]

Canadian Dollar: USD/CAD (CAD=X) may be on verge of ending consolidation

Canadian Dollar: USD/CAD (CAD=X) may be on verge of ending consolidation

Canadian Dollar: USD/CAD (CAD=X) may be on verge of ending consolidation The Canadian Dollar may be on the verge of extending its advance against the US Dollar and ending prolonged consolidation since the Summer of 2019. USD/CAD took out lows from July after clearing support at 1.3017, but follow-through has been somewhat lacking. Clearing immediate […]

British Pound: USD/GBP (GBP=X) Investors Eye PMI Reports

British Pound: USD/GBP (GBP=X) Investors Eye PMI Reports

British Pound: USD/GBP (GBP=X) Investors Eye PMI Reports fter a pause for New Year’s, investor focus is on the British PMI releases for December, which are important gauges of key sectors in the economy. Later on Thursday, we’ll get a look at Final Manufacturing PMI, which is expected in at 47.6 pts. This is slightly […]

Euro: USD/EUR (EUR=X) Manufacturing PMI data Softens in December

Euro: USD/EUR (EUR=X) Manufacturing PMI data Softens in December

Euro: USD/EUR (EUR=X) Manufacturing PMI data Softens in December The final reading of the Eurozone manufacturing PMI for December softened to 46.3 from 46.9 in the prior month. The figure was ahead of analysts’ expectations with the median forecast at 45.9. Chris Williamson of Markit, the company that produces the data, commented that despite the […]

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

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

Japanese Yen: USD/JPY (JPY=X) US Dollar Stabilizes Against Japanese Yen The US dollar has rallied slightly against the Japanese yen during trading on Thursday, in what was a relatively quiet day. Ultimately, this is a market that should continue to see a lot of choppiness, but at this point I think it makes quite a […]

Australian Dollar: USD/AUD (AUD=X) showing signs of exhaustion near the 0.70 handle

Australian Dollar: USD/AUD (AUD=X) showing signs of exhaustion near the 0.70 handle

Australian Dollar: USD/AUD (AUD=X) showing signs of exhaustion near the 0.70 handle The Australian dollar pulled back just a bit during the trading session on Thursday, showing signs of exhaustion near the 0.70 handle as you would expect. This is a large, round, psychologically significant figure so there will be a lot of interest in […]

Gold 2020: Prices Rise as the USD Falls

Gold 2020: Prices Rise as the USD Falls

$XAU, $GLD, $USD Gold prices moves higher as USD eases, and an Iranian-backed militia stormed the US Embassy in the Iraqi capital Tuesday. US short term yields moved lower weighing on the interest rate differential, which put downward pressure on the Buck and paved the way for higher gold prices. Technical Analysis: Gold prices moved […]

Australian Dollar: USD/AUD (AUD=X) Trader Reaction to .6995 Set Today’s Tone

Australian Dollar: USD/AUD (AUD=X) Trader Reaction to .6995 Set Today’s Tone

Australian Dollar: USD/AUD (AUD=X) Trader Reaction to .6995 Set Today’s Tone The Australian Dollar is grinding higher on Tuesday in another holiday thinned session. The catalyst behind the move is the news that China’s manufacturing sector managed to stay in expansion territory this month. China’s official Purchasing Managers index was 50.2, a tick above the […]

Japanese Yen: USD/JPY (JPY=X) breaking to 109.00 will motivate the bears to move the pair to lower levels

Japanese Yen: USD/JPY (JPY=X) breaking to 109.00 will motivate the bears to move the pair to lower levels

Japanese Yen: USD/JPY (JPY=X) breaking to 109.00 will motivate the bears to move the pair to lower levels The weakening of the US dollar and the renewed global trade and geopolitical tensions were catalysts for the USD/JPY pair to correct lower towards the 108.62 support, its lowest in more than two weeks. And with investor’s […]

Euro: USD/EUR (EUR=X) Needs to Hold 1.1209 to Sustain Short-Covering Rally

Euro: USD/EUR (EUR=X) Needs to Hold 1.1209 to Sustain Short-Covering Rally

Euro: USD/EUR (EUR=X) Needs to Hold 1.1209 to Sustain Short-Covering Rally The Euro finished higher against the U.S. Dollar on Tuesday as investors continued to express optimism in the growth prospects of the global economy amid the easing of tensions between the United States and China. Although the Euro is rising, it’s actually the weaker […]

British Pound: USD/GBP (GBP=X) Marches Higher in its Recovery

British Pound: USD/GBP (GBP=X) Marches Higher in its Recovery

British Pound: USD/GBP (GBP=X) Marches Higher in its Recovery The British pound was one of the strongest major currencies in 2019, advancing roughly 4% against the greenback this year. The Canadian dollar is on pace for the top-performing major currency spot in 2019. It has outpaced Sterling by just a fraction of a percent. Much […]

Why Canadian Dollar: USD/CAD (CAD=X) may struggle this year

Why Canadian Dollar: USD/CAD (CAD=X) may struggle this year

Why Canadian Dollar: USD/CAD (CAD=X) may struggle this year The Canadian dollar may struggle in 2020 to top its stellar performance from this year. That’s the message from the global head of foreign-exchange strategy at Credit Suisse who expects the tailwinds seen in 2019 to fade. While risk-sensitive currencies like the loonie should perform well […]

The Financial Markets in Year of the Rat 2020

The Financial Markets in Year of the Rat 2020

$DIA, $SPY, $QQQ, $RUTX, $XRT, $IWM Our New Year is here and we are just a few weeks away from the Chinese New Year, so not too early to share some of my favorite Chinese Astrologer’s thoughts on the coming Year of the Rat, he is famous for his predictions, but not perfect. The background: […]

British Pound: USD/GBP (GBP=X) – British Pound Continues To Press Onward

British Pound: USD/GBP (GBP=X) – British Pound Continues To Press Onward

British Pound: USD/GBP (GBP=X) – British Pound Continues To Press Onward The British pound has rallied a bit during the trading session on Monday, continuing to follow through from the massive move on Friday. That being said, it is running into a little bit of resistance, and therefore a slight pullback makes quite a bit […]

Australian Dollar: USD/AUD (AUD=X) Powers Higher Again

Australian Dollar: USD/AUD (AUD=X) Powers Higher Again

Australian Dollar: USD/AUD (AUD=X) Powers Higher Again The Australian dollar rallied a bit during the trading session on Monday, reaching towards the 0.70 level, a psychologically important figure to say the least. That being said though, although we have had a massive breakout to the upside it’s likely that we need a bit of a […]

Euro: USD/EUR (EUR=X) Struggles At Major Round Figure

Euro: USD/EUR (EUR=X) Struggles At Major Round Figure

Euro: USD/EUR (EUR=X) Struggles At Major Round Figure The Euro broke higher during the trading session on Monday, breaking above the 1.12 level momentarily. At this point, the market is likely to go back and forth in this area, and perhaps do very little due to the fact that New Year’s Day is Wednesday. However, […]

Australian Dollar: USD/AUD (AUD=X) Australian Dollar Breaks Out

Australian Dollar: USD/AUD (AUD=X) Australian Dollar Breaks Out

Australian Dollar: USD/AUD (AUD=X) Australian Dollar Breaks Out The Australian dollar rallied rather significantly during the week, breaking towards the 0.70 level. I think at this point it’s very likely that we will see a lot of resistance in that area, due to the fact that it is a large, round, psychologically significant figure. With […]

Japanese Yen: USD/JPY (JPY=X) Trade Deal Optimism Providing Support Amid Thin Holiday Volume

Japanese Yen: USD/JPY (JPY=X) Trade Deal Optimism Providing Support Amid Thin Holiday Volume

Japanese Yen: USD/JPY (JPY=X) Trade Deal Optimism Providing Support Amid Thin Holiday Volume The Dollar/Yen settled marginally higher last week while hovering just below the May 30 top at 109.930. The lackluster holiday trading conditions led to a mostly sideways-to-firm trade, but the lack of significant trading volume prevented the Forex pair from generating any […]

Gold Closed Above $1500 on Pace to Best Year Since 2010

Gold Closed Above $1500 on Pace to Best Year Since 2010

$GLD, $XAU, $SLV, $USD, $JPM, $GS, $UBS Gold rose for a 4th session running, topping 1,500 oz and on pace for its best annual gainer since Y 2010. The precious Yellow metal marked a 7-wk high on the breakout as investors positioned for Y 2020, with post-Christmas gains coming even as global equities inched higher and US-China […]

British Pound: USD/GBP (GBP=X) Trying To Overcome Large Number

British Pound: USD/GBP (GBP=X) Trying To Overcome Large Number

British Pound: USD/GBP (GBP=X) Trying To Overcome Large Number The British pound has rallied a bit during the trading session on Thursday, reaching towards the 1.30 level. This of course is a large, round, psychologically significant figure, and if we can break above there it’s likely that we go much higher. This would be a […]

Japanese Yen: USD/JPY (JPY=X) US Dollar Rallies Into Resistance

Japanese Yen: USD/JPY (JPY=X) US Dollar Rallies Into Resistance

Japanese Yen: USD/JPY (JPY=X) US Dollar Rallies Into Resistance The US dollar has rallied a bit during the trading session on Thursday, reaching towards the ¥110 level, an area that will have a certain amount of psychological resistance built into it. If we can break that level, then it’s likely that we go looking to […]

Australian Dollar: USD/AUD (AUD=X) Will Need Surge in Volume to Breakout Over .6939

Australian Dollar: USD/AUD (AUD=X) Will Need Surge in Volume to Breakout Over .6939

Australian Dollar: USD/AUD (AUD=X) Will Need Surge in Volume to Breakout Over .6939 Optimism over the U.S.-China trade deal continues to bring in enough buyers to underpin the Australian Dollar. However, the buying volume is a little light due to the holiday season, and uncertainty over whether the Reserve Bank of Australia (RBA) will lower […]

Euro: USD/EUR (EUR=X) The ECB will release its monthly economic bulletin on Friday

Euro: USD/EUR (EUR=X) The ECB will release its monthly economic bulletin on Friday

Euro: USD/EUR (EUR=X) The ECB will release its monthly economic bulletin on Friday On the Macro It’s a particularly quiet week ahead on the economic calendar, with just 13 stats to monitor. In the previous week, 94 stats had been in focus. With many of the markets shut through the middle part of the week, […]

Australian Dollar: USD/AUD (AUD=X) very likely that this market will continue to go much higher

Australian Dollar: USD/AUD (AUD=X) very likely that this market will continue to go much higher

Australian Dollar: USD/AUD (AUD=X) very likely that this market will continue to go much higher The Australian dollar has pulled back significantly during the week but found buyers to turn things around and rally again. The massive shooting star from the previous week is a negative sign but it looks as if we are trying […]

Gold Futures: Technical Analysis

Gold Futures: Technical Analysis

$GLD, $XAU Gold futures traded higher late Thursday despite extremely low volume. Traders are saying the market is being underpinned by the lack of details over the US-China trade deal, and the political uncertainty in Washington. The low volume is being attributed to position-squaring ahead of the Christmas and New Year holidays. At 20:35 GMT, February […]

Gold Marks 2 Wk Highs and Dips

Gold Marks 2 Wk Highs and Dips

$XAU, $GLD Gold prices retreated slightly Friday in Asia after marking a more-than-2-week high Thursday. US Gold Futures dipped 0.13% to 1,482.55 oz as of 10:59p ET Friday (03:59 GMT) after reaching a 1484.95 high. Spot Gold prices also dropped 0.03% to $1,478.67. The political uncertainties caused by US House of Representatives’ voting to impeach […]

Australian Dollar: USD/AUD (AUD=X) Dip in Unemployment Rate Lowers Chances of Aussie Rate Cut

Australian Dollar: USD/AUD (AUD=X) Dip in Unemployment Rate Lowers Chances of Aussie Rate Cut

Australian Dollar: USD/AUD (AUD=X) Dip in Unemployment Rate Lowers Chances of Aussie Rate Cut The Australian and New Zealand Dollars are trading mixed on Thursday in reaction to several key economic reports. The Aussie is being supported by a jobs report that indicated the employment situation was starting to stabilize. The news also trimmed the […]

Japanese Yen: USD/JPY (JPY=X) Possible Upside Acceleration

Japanese Yen: USD/JPY (JPY=X) Possible Upside Acceleration

Japanese Yen: USD/JPY (JPY=X) Possible Upside Acceleration The Dollar/Yen is trading flat early Thursday ahead of the Bank of Japan’s (BOJ) interest rate and monetary policy decisions. The BOJ is expected to keep monetary settings steady and maintain its upbeat view on the economy, suggesting policymakers are in no hurry to boost stimulus even as […]

British Pound: USD/GBP (GBP=X) UK Retail Sales Decline 0.6% in November

British Pound: USD/GBP (GBP=X) UK Retail Sales Decline 0.6% in November

British Pound: USD/GBP (GBP=X) UK Retail Sales Decline 0.6% in November The Office for National Statistics reported a month over month decline of 0.6% in retail sales for the UK. The figure fell short of the analyst estimate for a rise of 0.3% and reflected the largest drop since December 2018. GBP/USD has not shown […]

Gold: Momentum is Building as Volatility Fades

Gold: Momentum is Building as Volatility Fades

$XAU, $GLD Technical Analysis: Gold prices are storing volatility which is getting pent up as prices trade sideways in a tight range. Resistance near the 50-Day MA at 1,477. Short term support is seen near the 10-Day MA at 1,470. Additional support on the precious Yellow metal is seen near an upward sloping trend line […]

Japanese Yen: USD/JPY (JPY=X) the Opportunity to Climb Remains

Japanese Yen: USD/JPY (JPY=X) the Opportunity to Climb Remains

Japanese Yen: USD/JPY (JPY=X) the Opportunity to Climb Remains According to the performance on the daily chart, the USD/JPY is still in an upward correction phase, and at the same time, lacks the momentum to complete it. Since the beginning of this week’s trading, the pair has not exceeded the 109.65 resistance gains, and it […]

British Pound: USD/GBP (GBP=X) U.K. Job Numbers Fall Short

British Pound: USD/GBP (GBP=X) U.K. Job Numbers Fall Short

British Pound: USD/GBP (GBP=X) U.K. Job Numbers Fall Short Weak economic data this week has weighed on the pound, which is down 1.7% so far this week. On Tuesday, key employment indicators missed their estimates, pointing to weakness in the labor market. Wage growth slowed to 3.2% in October, down from 3.4% in the previous […]

Gold Price Futures Technical Analysis

Gold Price Futures Technical Analysis

$GLD $XAU $USD Gold futures are trading nearly flat late Tuesday with gains capped by demand for risky assets and a stronger USD. The market may have been underpinned by slightly weaker US Treasury yields. Fundamentally, the market was pressured by stronger-than-expected US economic data, but may have been supported by concerns over the lack […]

Australian Dollar: USD/AUD (AUD=X) Continues To Grind Sideways

Australian Dollar: USD/AUD (AUD=X) Continues To Grind Sideways

Australian Dollar: USD/AUD (AUD=X) Continues To Grind Sideways The Australian dollar initially fell during trading on Monday, but then turned around to rally, only to give back gains again. Ultimately, the Australian dollar looks like it is essentially stuck in this area as there are a lot of questions as to what we are going […]

Japanese Yen: USD/JPY (JPY=X) continues to fight the sellers

Japanese Yen: USD/JPY (JPY=X) continues to fight the sellers

Japanese Yen: USD/JPY (JPY=X) continues to fight the sellers The US dollar has rallied a bit during the trading session on Monday, digging into the shooting star from the Friday session. That is a very strong sign as we continue to fight the sellers. Having said that though, there is still a lot to do […]

Gold Prices on Pace to Mark Biggest Annual Gainer in 9 Yrs

Gold Prices on Pace to Mark Biggest Annual Gainer in 9 Yrs

$GLD, $XAU, $SLV, $XAG, $USD Gold prices look to end the year more than 15% higher, on track to post their biggest annual gainer in 9 years. “Gold has seen considerable safe haven buying from investors concerned over low and negative yields in the bond market and fearing a possible downturn in equities,” said the […]

Euro: USD/EUR (EUR=X) Volatility Likely to Slow

Euro: USD/EUR (EUR=X) Volatility Likely to Slow

Euro: USD/EUR (EUR=X) Volatility Likely to Slow Last week was an eventful one. The Conservative party secured a majority in the UK election and a major step forward was made in the US-China trade war. It resulted in a rise of volatility in EUR/USD which had been trading in unusually small ranges for the three […]

Australian Dollar: USD/AUD (AUD=X) Underpinned by Robust Chinese Economic Data

Australian Dollar: USD/AUD (AUD=X) Underpinned by Robust Chinese Economic Data

Australian Dollar: USD/AUD (AUD=X) Underpinned by Robust Chinese Economic Data The Australian and New Zealand Dollars are trading higher on Monday as investors react to stronger-than-expected economic data from China, while continuing to digest the trade deal between the United States and China that was announced on Friday. There is some uncertainty over the details […]

Euro: USD/EUR (EUR=X) reaching towards the 1.12 level to turn things around and show signs of exhaustion

Euro: USD/EUR (EUR=X) reaching towards the 1.12 level to turn things around and show signs of exhaustion

Euro: USD/EUR (EUR=X) reaching towards the 1.12 level to turn things around and show signs of exhaustion The EUR/USD pair continues to chop around, reaching towards the 1.12 level to turn things around and show signs of exhaustion. By doing so, it looks as if we may try to stay within this range but if […]

British Pound: USD/GBP (GBP=X) Rallies After Election Results

British Pound: USD/GBP (GBP=X) Rallies After Election Results

British Pound: USD/GBP (GBP=X) Rallies After Election Results The British pound has spiked all the way to the 1.35 handle but has since pulled back quite significantly. That being said, there should be plenty of buyers underneath and a lot of people who have missed out on the initial move will be looking to get […]

Gold’s Price History

Gold’s Price History

$XAU, $GLD, $USD, $XAG, $SLV The following is a deep dive into past Gold’s Price History by James Anderson who begins with a gold price chart covering more than the last 700 years. Leading into the USD price of gold since the 1776 founding of the United States of America (USA) through the post-1971 fully fiat […]

Canadian Dollar: USD/CAD (CAD=X) Rallies Post-FOMC

Canadian Dollar: USD/CAD (CAD=X) Rallies Post-FOMC

Canadian Dollar: USD/CAD (CAD=X) Rallies Post-FOMC The Canadian dollar rallied ahead of and then after yesterday’s Federal Open Market Committee policy meeting statement. The FOMC left interest rates unchanged which was universally expected, as was the dovish policy statement. The Committee members are predicting that the Fed Funds rate will stay in the 1.50%-1.75% range […]

Japanese Yen: USD/JPY (JPY=X) possible long term “buy-and-hold” scenario

Japanese Yen: USD/JPY (JPY=X) possible long term “buy-and-hold” scenario

Japanese Yen: USD/JPY (JPY=X) possible long term “buy-and-hold” scenario The US dollar has rallied a bit against the Japanese yen initially during the trading session on Wednesday, but as you can see has given back a bit of strength. At this point, I think we are trying to build up a little bit of support […]

British Pound: USD/GBP (GBP=X) Brexit versus Socialism

British Pound: USD/GBP (GBP=X) Brexit versus Socialism

British Pound: USD/GBP (GBP=X) Brexit versus Socialism Prime Minister Boris Johnson called a snap election in October after parliament blocked his Brexit deal. Johnson saw an election as a means to end to get Parliament out of the gridlock created by the loss of his majority. The British PM lost his majority following Parliament’s returned […]

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