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EUR/USD Rises to Session High, Still Stuck in Range Below 1.1400 As the US Dollar, measured by the US Dollar index, continues to lose ground on Wednesday, the EUR/USD pair rose to a session high level of 1.1388 before retracing few pips to currently trade at 1.1380...
Euro's Share in Global Reserves Declines to Record Low According to the latest report from European Central Bank (ECB), Euro’s share in global reserves has hit lowest point ever, since the creation of the monetary union, 16 years back...
RBNZ Likely to Stay Pat at Record Low The Reserve Bank of New Zealand is likely to keep policy rates at record low at its monetary policy meeting scheduled on June 8 at 21:00 GMT. The central bank is expected to leave the Official Cash Rate at its record low of 2.25 percent...
CAD/JPY Trade Idea Major resistance – 84.25 (trend line joining 84.43 and 84.31) Major support – 83.60 (90 H EMA) CAD/JPY has jumped till 84.21 after making a low of 83.74 at the time of writing. It is currently trading around 84.09. On the higher side any break above trendline resistance 84...
USD/CAD Weaker, Breaches Below 1.2700 USD/CAD has intensified its downside against a backdrop of a generalized bearish sentiment surrounding the greenback. USD/CAD focus on oil Spot has retreated to 5-week lows as the selling pressure around USD remains unabated...
US Dollar Keeps Falling, Closer to 93.50 The selling pressure remains intact around the greenback when tracked by the US Dollar Index, currently grinding lower to the 93.60 area...
GBP/USD Spikes to The Vicinity of 1.4600 Handle The GBP/USD pair bulls initially seemed unimpressed with surprisingly strong manufacturing data before the pair regained its bullish momentum and spiked to a fresh session high level of 1.4595, a whisker away from 1.4600 handle...
EUR/GBP Erases Recovery Gains to 0.7840, Trading Flat Around 0.7800 The EUR/GBP cross erased all of its Wednesday's up-move and turned flat as renewed GBP buying interest emerged after surprisingly strong manufacturing and industrial production data...
JPY: Supported by Numerous Factors - MUFG Derek Halpenny, European Head of GMR at MUFG, notes that the yen is stronger versus most G10 currencies this morning as upside pressure persists with numerous factors set to keep the currency underpinned...
NZD/USD Still Bullish, RBNZ on Focus – UOB Analysts at UOB Group have reiterated the bullish perspective for the Kiwi dollar ahead of the RBNZ decision due tomorrow. Key Quotes “Against our expectation, NZD continues to march higher despite overbought conditions...
USD/CHF Breaks Major Support 0.9628, Targets 0.9540 Major support – 0.96280 (61.8% retracement of 0.94294 and 0.99508) Major resistance -0.9660 (Support turned into resistance) USD/CHF has broken major support 0.96280 and slightly declined from that level. It is currently trading around 0.96299...
AUD/USD Sell the Rallies to 0.7480 – Westpac Strategists at Westpac have reiterated the ‘sell-on-rallies’ outlook on the Aussie dollar. Key Quotes “The RBA’s steady hand this week was no surprise but the lack of an overt easing bias was”...
Yen Demand at The Moment is as a Form of ‘Brexit’ Insurance - SocGen Kit Juckes, Research Analyst at Societe Generale, notes that Japan’s Q1 GDP was revised up to show a 1.9% annualised growth rate in Q1. Key Quotes “The same series is flat on a y/y basis so I’m not getting over-excited...
GBP/USD Negative Bias Confirmed Below 1.4285 – Commerzbank According to Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pair needs to close below 1.4285 to confirm the negative bias. Key Quotes “GBP/USD has bounced from support but remains below initial resistance at 1.4665...
USD/JPY Struggling to Build On to Its Recovery Beyond 107.00 After arresting Asian session fall to session low level of 106.72, the USD/JPY pair now seems to have stabilized and is trading in a tight range around 107.00 handle...
WTI Through $51.00, Fresh 2016 Tops The barrel of West Texas Intermediate is extending its rally today, currently surpassing the key $51.00 mark...
Pre US Open, Daily Technical Analysis Wednesday, June 08, 2016 Please note that due to market volatility, some of the below sight prices may have already been reached and scenarios played out. EUR/USD Intraday: the upside prevails. Pivot: 1.1315 Most Likely Scenario: long positions above 1...
ECB: Officially Launched Its Corporate Bond Buying Program - BBH Research Team at BBH, notes that the ECB has officially launched its corporate bond buying program which will provide overall holdings every Monday, while the details of its holdings will be published monthly starting July 18...
Trading volume contribution to trade decisions. Trading volume is a trend confirmation indicator in the event that the types of trade are aligned with the trend. By gauging the trading volume, we ascertain trend momentum...
