Day: November 29, 2023
The Japanese yen continues rising against the US dollar. The current USDJPY exchange rate stands at 147.08. Two factors influence the yen’s exchange rate: Japan’s inflation and the behaviour of the US dollar. The price situation is somewhat balanced: while the CPI has risen, it remains unstable. The USD circumstances are rather productive for the […]
The Australian dollar, paired with the US dollar, continues to rise. The current AUDUSD exchange rate stands at 0.6650. Inflation is slowing in Australia, supporting the scenario of the Reserve Bank of Australia refraining from further interest rate hikes. Market expectations for a rate hike have decreased from 70% to 50%. Today’s statistics show a […]
NZD Spikes Higher The New Zealand Dollar was among the big winners yesterday as USD reversed lower. NZDUSD traded to its highest level since August earlier today before selling kicked in to fuel a correction lower. Overnight, the RBNZ was seen holding rates unchanged at 5.5%, in line with expectations. However, the bank warned that […]
DXY Plunges The US Dollar was seen plunging to its lowest level since early August yesterday as traders digested the latest Fed commentary. Fed’s Waller commented yesterday that he was encouraged by the slowing of the US economy and believed that Fed monetary policy was in the right place to bring inflation down to target. […]
EURUSD, “Euro vs US Dollar” EURUSD is testing the resistance level. The pair is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Kijun-Sen line at 1.0965 is expected, followed by a rise to 1.1055. An additional signal confirming the rise will be a rebound from the lower boundary of the […]
EURUSD, “Euro vs US Dollar” EURUSD has formed a consolidation range around 1.0944 and, breaking it upwards, is forming a growth structure to 1.1020. After the price reaches this level, it might correct to 1.0944 (a test from above), subsequently climbing to 1.1033. It is worth noting that any rise is seen as a possible […]
The statements made by the Fed officials on Tuesday prompted a mild sell-off of the dollar. At the beginning of Wednesday, the US Dollar Index (DXY) tested the 102.50 area, but during the day, it managed to recover from the decline, ending slightly positive. From a technical analysis standpoint, after breaking through the bearish channel, […]
TitleEURJPY H4 Bullish Bounce TypeBullish Bounce Preference:The current price is moving toward the pivot, swing low support at 161.442. Price could bounce off pivot and move to 1st resistance a pullback resistance at 162.903. Alternative scenario:The price may not rise above 161.722 which is the 61.8% fibo retracement level. To discuss this trading idea, head […]