Daniel Bancans / Blog
The past few weeks has been a considerably strong week for the EURUSD due to the the weakening US Dollar. The pairing managed to push to the 1.134 mark which sits on a declining resistance line...
The Bank of Japan, last night decided to leave their current stimulus plan unchanged, in addition to the current benchmark rate at -0.10%. The members votes 8-1 to keep the current stimulus package at ¥80 trillion. The members also voted 7-2 to keep the benchmark rate unchanged...
This week will have the Bank of Japan, Bank of England and the Federal Reserve policy meetings where the benchmark rates are expected to remain unchanged...
Despite the large drop from the NZD after a surprise decrease in interest rates, the NZD/USD has regained a large majority of those losses today as the USD opens weak. The NZD/USD has been trading within an inclining channel since the start of February...
On the EUR/USD daily chart you can see the price has retraced back to the 38.2% fibonacci line where is is forming doji candlestick formations which hint at a possible continuation downwards. Price is still below the 200 EMA, therefore this looks like a good bearish setup...
Yesterday say yet another poor news revelation from China with the contracted exports falling -25.4% in USD term Despite this Chinese markets actually trade higher yesterday with hopes that the PBoC will increase stimulus. Chinese exports plummeted one quarter in February;- 25...
The EUR/USD 4 hour chart shows the price breaking the 200 EMA which may see the price proceed to the previous high at 1.137. However, the RSI is at 67 which is fairly overbought which implies that the movement is running out of momentum...
The USD/CAD has been trading within a declining channel for the past few weeks. The price recently touched the support line and bounced off of it. It is showing a good long setup and looks to target the declining resistance line at 1...
The USD/JPY 4 hour chart shows the price has been range trading between the 23.6% fibonacci line and the 38.2% fibonacci line. The price is currently sitting on the 23.6% fibonacci retracement. The 38...
The AUD/USD had an excellent week last week due to the weakening dollar. However, the dollar has started the week strong and has caused a fair gap in the markets during the opening last night. The price broke the 200 EMA very strongly, therefore we are not expecting it the drop below it this week...