Day: August 22, 2023
The Japanese yen, paired with the US dollar, is once again ready for devaluation. The current USDJPY exchange rate stands at 146.05. Last week, the Japanese Ministry of Finance sent cautionary letters regarding the recent weakening wave of the Japanese Yen. It seems the ministry has transitioned to a new stage of intervention strategies: shifting […]
Hawkish BOE Expectations Driving GBP After pausing since around late June until the middle of this month, the bull rally looks to be back underway in GBPJPY. Hawkish BOE expectations are underpinning the current drive higher with traders anticipating that the central bank will be forced to hike at least once more this year, potentially […]
Focus on Fed-Speak The US Dollar is stalled at a key resistance level ahead of a slew of incoming data and Fed-speak this week. Looking ahead today, Fed’s Goolsbee and Bowman are due to speak. Both Fed members have been on the hawkish side recently, speaking in favour of further tightening as a result of […]
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EURUSD, “Euro vs US Dollar” EURUSD has received support at 1.0875 and could extend the correction to 1.0933. Practically, a wide consolidation range continues developing around 1.0900. With the price exiting the range downwards, the wave of decline could continue to 1.0817, from where the trend might extend to 1.0733. This is a local target. […]
The market’s most traded currency pair regained equilibrium on Tuesday. The current EURUSD exchange rate stands at 1.0910. With the macroeconomic background neutral and the statistics calendar empty, investors are stabilising their expectations concerning the major currency pair. According to the Commodity Futures Trading Commission (CFTC), the volume of net short positions on the USD […]
TitleEURJPY H4 | Bearish reversal off 127.2% fibo extension? TypeBearish Reversal Preference: Price is approaching our pivot point at 159.77, which is at the 127.2% fibo extension. If price does not break above the pivot point, and the body of the candle closes below, price could potentially fall to the 1st support at 158.45, which […]