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Talking Points Gold, USDOLLAR at risk heading into FOMC minutes Updated targets & invalidation levels Compete to Win Cash Prizes with FXCM’s Forex Trading Contest Tomorrow is the release of the minutes from the latest FOMC policy meeting and although we’ve already seen Chair Yellen’s presser...
GOLD: The commodity continues to target more recovery leaving risk towards the 1,365.00 zone. On the downside, support comes in at the 1,350.00 level where a break will turn attention to the 1,240.00 level. Further down, a cut through here will open the door for a move lower towards the 1,330...
The turmoil generated by the June 23 UK Brexit vote has prompted analysts to adjust their yuan calls going forward to reflect renewed weakness against the dollar, with the new 2016 forecast for the high range from CNY6.7500 to CNY7.000. USDCNY closed at CNY6.6860 Tuesday, after trading in a CNY6...
Back below 200 hour MA Adam just posted on the weakness in the price of oil . The USDCAD followed that retreat with a move higher today. That rally has seen the price of USDCAD retrace to the 50% of the move down from the June 28 - post Brexit - high. That level comes in at 1...
Since Brexit, gold, silver, and related currencies (comdolls) such as AUD, have been on the rise, due to gold’s status as a safe-haven commodity. Since a few days back however, things have started to change, and big sell orders have started hitting those markets...
Voting in the first round of Conservative leadership contest ends at the top of the hour The candidate with the least amount of support will be removed from the ticket after the votes are counted. It should take less than an hour from the time voting closes...
Congestion area broken and traders exit in a hurry The congestion in the EURUSD at the 1.1113-20 level worked for a bounce to 1.1134, but then the support gave way and traders exited/sold into to break (get me OUT) The fall has now taken the price to - and through the 1...
Tests the September 1985 low. The GBPUSD has moved to new session lows and continues the fall to new multi decade lows. The pair is currently testing the September 1985 swing low at the 1.3045 level (the low comes in at 1.30413...
Lots of technical congestion ahead Like a major artery where different roads come together, the EURUSD has one such area being approached. The 100 and 200 hour MAs at 1.1113-20 and the low for the day at 1.1119 come together. Just north of that intersection is a trend line connecting lows (at 1...
Not to be confused with the BREXIT day low The USDJPY traded at a low of 101.38 on June 27th. That was the Monday after the BREXIT result on June 24th. That was the low from last week as well. The 50% of the move up from the low comes in at 101.20 area (I am using a low on Brexit day of 99...
The latest dairy auction from Fonterra Whole milk price index -1.6% Whole milk powder prices average $2062/MT Globaldairytrade auction average $2345/MT It's the second auction in a row of declining prices but that follows two very strong auctions...
USD/CAD fell on July 1 and July 4 holidays USD/CAD is trading almost precisely where it closed the day on June 30. It's taken a 110 pip, one-way rally to get there but all that's happened is that the pair has unwound declines on July 1 (a holiday in Canada) and July 4 (a holiday in the USA...
The most recent Bank of Japan monetary policy meeting adjourned 15 June, just one week before the UK referendum vote. The question must be asked whether the BOJ considered any risk to the Japanese economy either before or after the vote...
Carney tries to say that they are ready to do everything, but this comes on the background “risks materializing” in the few days after Brexit. So, should we be find comfort in Carney message for the future or listen to his dark assessment of the present...
Was the services PMI survey conducted before the Brexit vote? At least according to the outcome, we don’t have a collapse which mimics the one in the construction sector. A score of 52.3 is slightly less than 52.7 originally expected, but certainly not a disaster...
The Australian dollar enjoyed a post-Brexit recovery and managed to top the 0.75 level. While AUD/USD keeps holding on to this ground, the gains may have stopped for now...
The ISM Non-Manufacturing PMI (Purchasing Managers’ Index) is based on a survey of purchasing managers in the manufacturing sector. Respondents are surveyed for their view of the economy and business conditions in the US...
Signs that the Brexit is already taking its toll are accumulating. A mix of surveys, news reports and a political turmoil is taking over. GBP/USD is falling once again, over 100 pips and back to the 1.31 handle. The low so far is 1.3162, above the 1...
EURUSD Daily Analysis EURUSD (1.113): EURUSD is seen pulling back after edging higher yesterday. Having cleared 1.110, the current pullback could be limited to 1.110 to establish support. In such an event, EURUSD could potentially be forming a base at 1.110 for the eventual test to 1...
The fallout from Brexit is far from over. Bank of America Merrill Lynch sees further falls and explains: Here is their view, courtesy of eFXnews: Rarely in UK political history has there been a situation where there has been a concurrent leadership contest in the two largest parties in Parliament...
