Foreign Exchange

Momentum has turned to drive gold back down to $1200. Yet it could provide near-term opportunities for both bulls and bears near the lower bounds of its channel. Faraday Research offers real time FX and Equity trade signals from qualified analysts. Click here to try us free.

1.13 remains an important level for the Euro as we head towards the weekly close, with a growing potential it could mark a bear-trap and reversal of fortunes for bulls. Starting with the daily chart, it looks straight forward for bears. The trend is clearly bearish, it trades within a descending channel and bearish hammers […]

A quick update on AUD following the strong employment data seen earlier today. Last week we highlighted the potential for AUD to carve out a new low, although part of the process involved establishing a new range before breaking higher. Having since respected key support and bounced, recent price action appears promising in our view. We can see […]

Bears appear unconcerned with the prospects of a Santa’s rally this year, who instead appear set to drive it to the October lows. Since the all-time high in May, the FTSE has shed over -11% by yesterdays close (or by -13.6% at the October low). Whilst we’ve seen a recovery from 6851.59, the trend structure remains […]

Here’s the market outlook for the week: EURUSD Dominant bias: Bearish EURUSD has become particularly bearish since last week (the bearishness has been in place since August 2018). On November 7, another phase of a bearish movement was begun and price has really become weak. There are support lines 1.1250, 1.1200 and 1.1150, which would […]

USD/CAD has broken out of its 4-month bearish channel this week, potentially opening the door for further strength in the coming week. Faraday Research offers real time FX and Equity trade signals from qualified analysts. Click here to try us free.

We’ve seen NZD go from strength to strength since breaking its channel, so we’re intrigued to see if AUD/USD can now play catch-up. Sentiment-wise, there’s an argument for AUD to carve out a low. Using the weekly COTS report, combined net positioning for AUD, CAD and NZD shows traders remain near a record level of short exposure […]

Since its sell-off from multi-year highs, WTI is within its most bearish 5-week run since January 2016. And whilst momentum favours a test of $60, the risk of a retracement from current levels appears high. Starting with the daily chart, we note that momentum is clearly bearish and minor retracements since the 76.88 high denote […]

Since it broke its bearish channel last week, bullish momentum has continued to pick up against RBNZ’s wishes. And, with RBNZ and FOMC meetings just around the corner, it remains a pair to keep an eye on. Faraday Research offers real time FX and Equity trade signals from qualified analysts. Click here to try us […]

GOLD (XAUUSD) Dominant Bias: Bearish Gold is bearish is the long-term, but neutral in the short-term. Since April 2018, price has shed 20,000 pips, reaching a yearly low of 1159.00. However, price has been ranging since the yearly low was reached in August, as speculators await breakouts of the price. There have recently been wild […]