Currency

The EU granted the UK’s flextension until 31st October, four-month longer than PM May requested. Yet whilst today’s ‘meh’ reaction points towards Brexit fatigue, the coiling nature of GBP suggests volatility could be brewing. As Matt Weller pointed out just yesterday, it was more a question of how long an extension would be over whether […]

BTCUSD Medium-term Trend: Bullish   • Resistance levels: $7,000, $7,200, $7,400 • Support levels: $5,000, $4,800, $4,600   Yesterday, April 9, the price of Bitcoin was in a bearish trend. The price fall was as a result of the $5,300 resistance level. The bulls could not make further progress as a result of this hurdle. […]

The bullish wedge on AUD/NZD continues to play out nicely, having reached a 10-week high as of yesterday. But the trend may be in need of a pause, before further gains materialise. If successful, the bullish wedge targets the 106.37 highs. Whilst some may prefer not to label it a wedge due to the prominent […]

Once only big institutions such as banks could trade foreign exchange (forex) but now there are many brokers that offer forex trading to private traders. It is an attractive trading instrument for people looking for liquid assets and markets. There are many brokers available, offering different currency trading pairs, so when you choose a forex […]

The US dollar index suffered its most session close in nearly 3-weeks yesterday. Given its tendency to trade lower throughout April and signs of weakness at the highs, we’re keeping an eye out for a break lower to signal a near-term top. Over the past 30 years, April has proven to be a tough month […]

Near the end of March, we outlined USD/CHF’s potential to rebound before its next leg lower. With the rebound having since occurred, we’re now watching closely for signs of bearish momentum to return. Part of the rationale for an ‘eventual’ break lower was based on the tendency for April to be the worst month of […]

A summary of the weekly Commitment of Traders Report (COT) from CFTC to show market positioning among large speculators. EUR: Large speculators are the most bearish on Euro since December 2016. AUD: Traders are their most bearish since November 2018, yet prices are failing to track lower. WTI: Bulls push their net-long exposure to their […]

Since the end of January, AUD/JPY has traded in a sideways range between 77.44 – 79.84. It’s unclear at this stage which side it will eventually break out of but, we see potential for AUD/JPY to trade lower from the highs of its range. Indeed, it appears to have favoured traders who sold near the […]

ETHUSD Long-term Trend – Bullish     Distribution territories: $190, $200, $210 Accumulation territories: $120, $110, $100     Ethereum’s price has been rising against the US dollar in the last few trading sessions of the week. The cryptocurrency is, however, still trading within the boundaries of a specific range.     On April 2, the […]

BTCUSD Medium-term Trend: Bullish   • Resistance levels: $7,000, $7,200, $7,400 • Support levels: $4,900, $4,700, $4,500   Yesterday, April 4, the price of Bitcoin was in a bullish trend. The BTC price was ranging above the $4,900 price level as it encountered resistance at the $5,200 price level. On April 2, the BTC price […]