Currency

The US Dollar Index sank to new lows today in Asia, finally breaking out of a tight range we highlighted last week. The straw that broke the camel’s back will always be up for debate, but it’s fair to say more than a few forces have worked against the Greenback this week. IMF’s upgrade for global growth is a […]

The pound may have been slow out of the starting blocks yesterday, but it ended the day sharply on the rise as the approach of a key level for GBP/USD prompted markets to buy into Sterling. The pound is largely easing back after yesterday’s optimism. GBP/EUR has slipped to €1.1397, while GBP/USD has weakened to […]

The EUR/USD consolidated throughout last week, neither going above the resistance line at 1.2300 (which was tested unsuccessfully), nor going below the support line at 1.2150. This week, there is going to be a directional movement, which would most probably favor bears, for the outlook on EUR pair is bearish for this week. EUR/USD: The […]

Here’s the market outlook for the week: EURUSD Dominant bias: Bullish This pair consolidated throughout last week, moving between the resistance line at 1.2300 and the support line at 1.2150. The resistance line at 1.2300 was tested unsuccessfully, and it is unlikely that price would stay above it, even if it tested again. There is […]

Another day, another President Trump broadside. No, we’re not talking about the wall, NAFTA and bad jokes, but the interview the President gave concerning China. In a ‘nutshell’, Trump is considering a big ‘fine’ over China’s intellectual property theft and there is now much speculation that Trump will use his State of the Union address at […]

A slowdown in UK inflation in December weighed upon the pound, keeping it flat versus some of its major peers. The pound starts today on soft form as well. GBP/EUR is trending at €1.1257, whilst GBP/USD has fallen -0.2% to US$1.3768. The GBP/AUD exchange rate is flat at AU$1.7310, GBP/NZD is stuck at NZ$1.8995, and […]

AUDCAD has stalled beneath a pivotal zone of resistance as we approach the BOC policy meeting and Australian employment report. If we are to see a divergent theme materialise between the two events, we’d could expect price to provide a decisive break or firm rejection of this resistance area. As a break higher would place the cross within […]

A focus on today’s data calendar, coupled with a lack of impactful domestic data from the UK, saw the pound largely trending in response to movements from its major peers yesterday. The pound remains soft this morning in anticipation of the imminent CPI release. Sterling is trading narrowly around opening levels, with GBP/EUR trending around […]

The USD/JPY dropped massively last week, shedding 220 pips and testing the demand level at 111.00, with the intent to breach it to the downside. There is a huge Bearish Confirmation Pattern in the 4-hour chart, and further bearish movement is anticipated in the market. The next targets are the demand levels at 110.50, 110.00 […]

Here’s the market outlook for the week: EURUSD Dominant bias: Bullish The market was bearish from Monday to Wednesday, and then began to make some bullish effort, which eventually paid for. From the middle of last week, price rose by 270 pips, to test the resistance line at 1.2200. That resistance line remains under siege, […]