Currency

The Canadian dollar has continued to gain traction and remains the strongest performing major this month, and has AUD/CAD on the back ropes just above the 2018 lows. The Canadian dollar has continued to gain traction and remains the strongest performing major this month.  EUR/CAD posted a weekly close beneath its 2015 trendline last week […]

EURJPY Price Analysis – July 5 EURJPY has been consolidating sideways early in the trading session, as for the near future, it is likely that the euro zone single currency could continue to trade south during the following trading sessions.   Key Levels Resistance Level: 127.95, 126.30, 124.03 Support Level: 122.29, 121.60, 121.02   EURJPY […]

EUR/CAD is trying to break lower on the weekly charts, and today’s close along with which way it breaks outside of yesterday’s could be key for how the cross trades next week. Starting with the bigger picture, EUR/CAD is attempting to break beneath its April 2015 trendline on the weekly chart. Prices are already trading […]

Over the past six sessions, GBP/AUD’s downside has persisted as part of a bearish swing trade. And, now seemingly on the cusp of breaking key support after creating a lower high, we suspect the larger, bearish reversal is indeed coming into play. We highlighted previously that the rebound from July’s low lacked momentum, so we […]

Whilst we retain our core bearish view, a few indications point towards a corrective bounce before the dominant trend resumes. As we noted in our weekly COT report, net-short exposure on CAD futures was reduced by -23.3k contracts and gross shorts were closed at their fastest rate since July 2017. And this is after traders […]

EURJPY Price Analysis – June 28 The pair has also fallen after rising above the level at 122.50, although there is room on the upside towards the level at 123-124 any near term dip could be limited by the level at 121. It could see some dips in the next few sessions as US-China fundamentals […]

The consensus expects RBA to cut their overnight cash rate (OCR) to a new record low of 1% tomorrow. Yet it could be down to how dovish Lowe is in his subsequent speech as to whether 70c can crash though 70c. On the 16th June Philip Lowe said it was ‘likely’ RBA would have to […]

Weekly COT Report: Traders Ditch USD For A Fourth Consecutive Week As of Tuesday 25th June: Traders reduced net-long exposure to USD for a 4th consecutive week, shedding -$1.1 billion of long positions to $19.6k billion (23.3k billion against G10 currencies) The Canadian dollar saw the largest weekly change, where net-short exposure was reduced by […]

EUR/NZD broke the March trendline following Wednesday’s RBNZ meeting. Now approaching the June low, we could see a corrective bounce towards resistance and pave the way for two bearish potential patterns we’re monitoring. Since Wednesday’s RBNZ meeting, where they held rates but were less dovish than expected, NZD crosses have retained strength. With G20 meetings […]

The meetings have kicked-off and volatility remains capped whilst traders await potentially market-moving headlines and trade developments. We take a look at a couple of JPY pairs around the event. Markets were given a gentle lift in sprits yesterday on announcement that the US and China had agreed to a trade truce ahead of the […]