Foreign Exchange

The Canadian dollar is the top performer this month ahead of today’s BOC meeting. And although no hike is expected today, CAD could either extend gains or find itself victim to profit-taking depending on their policy statement or monetary policy report (MPR). Technically we want to pursue CAD long positions, but fundamentally we’re a little […]

Since breaking above the 1.80 area, a shallow retracement has held above a 38.2% Fibonacci level. And with momentum turning higher once more, we’re keeping an eye on a break above 1.8506. Faraday Research offers real time FX and Equity trade signals from qualified analysts. Click here to try us free.

Daily analysis of USD/CHF for April 16, 2018 USD/CHF There is some form of bullishness on the USD/CHF. Since the support level at 0.9200 was breached on February 16, price has moved upwards by 440 pips, closing above the support level at 0.9600 on Friday. This week is supposed to be bullish, because USD will […]

In a previous post, we highlighted the tendency for USD/CAD to trade lower throughout April using a 10 year seasonal chart. Just over half way through the month and already 2.2% lower, it appears on track to maintain this pattern. Also helping its cause is the fact that, as of last Tuesday at least, markets were net […]

Here’s the market outlook for the week: EURUSD Dominant bias: Neutral Irrespective of the bullish attempt that was witnessed last week, the outlook on EURUSD remains neutral. The neutrality has been ongoing for over 2 months, and the bullish attempt that happened last week pales into insignificance when compared to the overall outlook on the […]

For the best part of seven months, EUR/GBP was confined to sideways range between 0.8689 to 0.9033. But as yesterday’s bearish range expansion takes the cross to an 11-month low, it strongly suggests its ready to trade in a new range. Although we’d seen a spike beneath 0.8689 support in March, yesterday’s decisive close is […]

The break above 1.1831 takes EUR/CHF to it’s highest level since January 2015 – the infamous month SNB pulled the plug on their currency peg with the Euro. And with little in the way of obvious resistance, we’re seeking opportunities to go long towards 1.20. The daily chart shows that short-term momentum is aligned with the longer-term […]

Recent trade war tensions seem to have abated as President Xi’s grown-up stance on global trade has soothed volatile stock markets. FX markets are not so sanguine on USD though, as geopolitics and US domestic politics continue to hurt the dollar, amongst its wider long-term issues. EUR/USD We highlighted the contracting ranges on the weekly and […]

Following a weekly morning star reversal pattern above a 38.2% retracement level, we have EUR/JPY on our radars for a bullish breakout on the daily chart. Faraday Research offers real time FX and Equity trade signals from qualified analysts. Click here to try us free.

ETHUSD Long-term Trend – Bearish Distribution territories: $500.00, $600.00, $700.00. Accumulation territories: $300.00, $200.00, $100.00. This week ETHUSD pair continues to trend southward almost the same bearish outlook as last week’s formation. On April 3rd, the price managed to form a lower high above distribution territory of $400.00, April 4th marked another noticeable bearish movement...