Market Analysis

BOC in Focus The Bank of Canada meets for its October rate setting meeting today and while no change is expected, traders will be keeping a close eye on the latest guidance and forecasts offered. The BOC has warned recently that it is still prepared to use further tightening, if necessary, to respond to any […]

TitleEURGBP H4 | Potential Bearish Reversal TypeBearish Reversal Preference: Price is rising towards the pivot point of 0.87331 which is a swing-high resistance and could potentially reverse from here; we could see momentum carry price down to its 1st support at 0.86842 which is a pullback support that aligns close to the 50.0% Fibonacci retracement […]

Japanese CPI Rises The Japanese Yen is turning higher today on the back of the latest set of inflation figures, released overnight. BOJ core CPI was seen rising to 3.4% last month, up from 3.3% a month prior and above the 3.3% the market was looking for. With JPY continuing to depreciate over recent weeks, […]

TitleGBPJPY H4 | Bearish reversal off 161.8% fibo? TypeBearish Reversal Preference: Price is rising towards our pivot point at 183.76, which is a swing high resistance level, aligning with the 161.8% fibo extension. Price could reverse off from here, and fall to the 1st support at 182.87, which is a pullback support level. Alternative scenario:If […]

USDCAD, “US Dollar vs Canadian Dollar” USDCAD has formed a Harami reversal pattern on H4. Currently, the instrument could go by the reversal signal in an ascending wave. The growth target might be 1.3740. Next, the price could break the resistance and extend the uptrend. However, the quotes might correct to 1.3640 before rising. AUDUSD, […]

AUDUSD, “Australian Dollar vs US Dollar” AUDUSD quotes are below the 200-day Moving Average on H4, revealing the prevalence of a downtrend. The RSI is nearing the resistance line. In this situation, a test of 5/8 (0.6378) is expected, followed by a rebound from this level and a decline to the support at 2/8 (0.6286). […]

In a surprising turn of events, US Treasuries witnessed a sharp rise in demand, driving the 10-Year US yield to a key psychological level of 5%. The sudden surge was not attributed to any specific catalysts, such as new economic data or statements from Federal Reserve officials. Instead, it appears to be a technical pullback, […]

Tech Earnings in Focus Q3 US earnings season continues today, and we have a couple of big names in the tech sector to keep an eye on. Along with Spotify, which will be closely watched on the back of 5 consecutive quarters of weaker growth, both Alphabet and Microsoft report today. Ahead of the market […]

The Australian dollar is rising against the US dollar on Tuesday. The current AUDUSD exchange rate stands at 0.6354. Aussie rose to its weekly high because the US government bond yield started declining, and geopolitical risks shrank. Lots of market attention is focused on the comments and actions of the Reserve Bank of Australia. After […]

The main currency pair reached its October high on Tuesday. The current EURUSD exchange rate stands at 1.0680. The US government bond yield stepped back from the peak upon reaching 5% and attracting lots of traders. The currency pair also received some support from the alleviation of the geopolitical risks. The fact that the conflict […]

EURUSD, “Euro vs US Dollar” EURUSD has escaped a consolidation range upwards, reaching the local correction target of 1.0686. Today a declining movement to 1.0590 could form. After the price reaches this level, a new corrective movement to 1.0717 might follow. Next, a decline to 1.0400 by the trend is expected. GBPUSD, “Great Britain Pound […]

EURUSD, “Euro vs US Dollar” EURUSD is rebounding from the Tenkan-Sen line. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Kijun-Sen line at 1.0655 is expected, followed by a rise to 1.0755. An additional signal confirming the rise will be a rebound from the lower boundary of […]