Currency

Whilst NZD/JPY appears to be leading the way lower, NZD/CHF looks to be carving out a similar path. Bearish momentum has picked up on NZD/JPY since the 75.96 high (lower high) and, whilst prices have stalled around 73.83 support, but we suspect further losses could materialise following a minor pullback. Keep in mind that news […]

XRPUSD Medium-term Trend: Bearish     • Resistance Levels: $0.56, $0.58, $ 0.60 • Support Levels: $0.31, $0.29, $0.27   On April 18, the XRPUSD pair was in a bullish trend. The bulls tested the $0.34 resistance level and were resisted. The bears broke the 12-day EMA and the 26-day EMA to reach the bearish […]

With the US dollar contemplating a breakout and BOC unlikely to provide a hawkish surprise, we’re looking for USD/CAD to break above its March high. We head into today’s meeting with little expectation for BOC to shift from their dovish stance. Whilst employment data has been one of the better economic performers for Canada, it […]

Australia’s Inflation appears to have left the building for today’s CPI report. With headline data missing expectations and moving further away from the target band, rate cut-calls are likely on the rise. And May could be a live meeting. In February, the RBA downgraded Q2 CPI and trimmed mean to 2% (2.25% prior), and for […]

NZD/CAD is testing key support of a 5-month double top pattern. Given the size of the prior swings within its downtrend, this could be a pair well worth monitoring for a major break lower over the coming week/s. Seasonally, April and May tend to be bearish months for NZD/CAD and price action is doing its […]

Whilst Australian employment held up, it doesn’t let inflation off the hook as a weak print tomorrow could see rate cut calls resurface. We’ve seen a few mixed messages from RBA of late. On the 10th of April, Guy Debelle sent AUD briefly higher when he reiterated higher growth expectations and that the RBA does […]

USD/JPY is consolidating near the March highs, with a potential inverted head and shoulders pattern still in play. If successful, the pattern projects an approximate target near the November highs, although 113 (psychological round number) and the 113.70 high make suitable, interim target. However, whilst price action has held above the neckline, in an ideal […]

A summary of the weekly Commitment of Traders Report (COT) from CFTC to show market positioning among large speculators. As of Tuesday the 16th of April: Traders were net-long the US dollar by $28.7bn, the highest level since the end of January. GBP flipped to net long for the first time since June 2018. Improved […]

BTCUSD Long-term Trend – Ranging     • Distribution territories: $6,500, $7,000, $7,500 • Accumulation territories: $3,500, $3,000, $2,500   Bitcoin market valuation hasn’t been able to move strongly in the market as well as its counter currency i.e. the US dollar. Therefore, the cryptocurrency’s price value has continued to push around in range spots […]

Today’s employment data for Australia dispelled any immediate fears of a rate cut. Yet, if a certain correlation is to hold true, we could see unemployment rise and calls for a cut to return with it. Unemployment ticked higher to 5% (4.9% previously) but as this was in line with expectation, the markets took it […]