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EUR/GBP Drops Below 0.7700 ahead of German ZEW Sentiment The relative under-performance of the shared currency (EUR) against the British Pound (GBP) has now dragged the EUR/GBP pair back below 0.7700 handle just ahead of German ZEW economic sentiment index reading for the month of May...
Daily Analysis of USDX for May 24, 2016 USDX is trading below the resistance zone of 95.68, but the intraday structure remains sideways. However, an acceleration below the 95.22 level will open the doors for a decline toward the 94...
Daily Analysis of GBP/USD for May 24, 2016 The pair had a very volatile session yesterday, as it has been hovering below the resistance level of 1.4549, where a fractal was formed. The nearest support is located around the 1...
JPY: Diverging Views Between the US and Japan on Intervention – MUFG Lee Hardman, Currency Analyst at MUFG, notes that the yen has remained on a firmer footing in the Asian trading session supported by more risk-averse trading conditions in the near-term...
USD/CAD Rises to 7-Week High USD/CAD rose to a fresh 7-week high early on Tuesday at 1.3176. RSI is trending upwards and has not entered overbought territory yet, so there is room for further upside. The market is close to the April 4 high of 1.3217. If it is surpassed, there is scope to target 1...
EUR/USD Still Focused on 1.1140 – UOB Analysts at UOB Group have noted the relevance of the next support level around 1.1140 in the next weeks. Key Quotes “Momentum indicators continue to deteriorate and the prospect for the current bearish phase to extend lower to the next key level at 1...
USD: Currency Index & Volatility Relative Currency Strength The British pound became the undisputed leader of the previous week. While its peers fluctuated in the range between -1.2% and +1%, the GBP Index experienced an almost 3% growth, fueled by the Brexit poll data release...
German Bunds Climb on Soft Economic Growth The German bunds surged further on Tuesday after reading weaker than expected first quarter Gross Domestic Product (GDP) figure. Also, investors shifted to safe-haven buying amid losses in riskier assets including crude oil and stocks...
FxWirePro: GBP/NZD Faces Strong Support at 100 Day MA, Good to Buy at Dips Major Support- 2.1320 (100 day MA) The pair has made a low of 2.3150 and recovered from that level. It is currently trading at 2.15620. Market awaits BOE inflation report hearings for further direction...
FxWirePro: USD/CNY Breaks Key Resistance at 6.5510, a Sustain Close Above Targets 6.5708 USD/CNY is currently trading around 6.5532 marks. Intraday bias remains bullish till the time pair holds key support at 6.5406 levels. A sustained close above 6.5510 will test key resistances at 6...
Glenn Stevens, Iron Ore and Oil Take Toll on Aussie Australia’s top exporting commodities, iron ore, oil, gas has been taking toll on Aussie since 21st April, and especially so after Reserve Bank of Australia (RBA) introduced a rate cut of 25 basis points...
USD Stabilizes Near Recent Highs On Monday, there was no big story to guide USD trading. The dollar opened slightly in the defensive as European equities traded volatile. Especially USD/JPY drifted further below 110...
EUR/USD Faces Consolidation in the Near-term – Commerzbank Karen Jones, Head of FICC Technical Analysis at Commerzbank, sees the pair in a consolidative pattern in the very near term. Key Quotes “EUR/USD attention remains on on the 1.1144 24th March low and the 1...
USD/CHF Trims Gains to Test 0.9900, Swiss Trade Data Weighs The USD/CHF pair is seen defending mild gains ahead of Europe open, with the bulls now testing 0.9900 support following the release of Swiss trade figures. USD/CHF: Upside remains capped at 0.9915 Currently, the USD/CHF pair trades +0...
FxWirePro: Silver Breaks Key Support at $16.31, Good to Sell on Rallies XAG/USD is currently trading around $16.29 marks. It made intraday high at $16.39 and low at $16.25 levels. Intraday bias remains bearish till the time pair holds key resistance at $16.63 marks. A daily close below $16...
FxWirePro: NZD/JPY Breaks Major Support at 73.80, on Track to Test Channel Base at 72.30 Kiwi bears relentless amid risk-off sentiment persisting in the markets, both Asian equities and oil prices trading in the red. NZD/JPY extending overnight slump, breaks major support at 73...
Silver - We Look to Sell at 1645 Silver - Prices have continued the bearish move lower and resulted in 4 consecutive negative days. Trading inside the Daily Ichimoku Cloud. The continuation lower in prices through support has been impressive with strong momentum and shows no signs of slowing...
GBP/CHF Rectangular Formation 100+ Pip Sell Opportunity GBP/CHF appears to have finished the 3rd wave buy and now is correcting. The currency pair is forming a continuation pattern which is called 'rectangular formation'...
EUR/USD Fades a Spike to 1.1225 on German GDP The EUR/USD pair jumped to fresh daily highs following the release of in-line with expectations German final GDP data, although failed to keep the bids and slipped back to the familiar range around 1.1215 region...
