Market Analysis

BNY Mellon Brazilian Elections: Expect The Unexpected The first round of Brazil’s presidential election takes place this Sunday, Oct. 2. Contrary to what is priced, we believe the likelihood of incumbent President Jair Bolsonaro winning the second round against ex-president Luis Inacio Lula da Silva on Oct. 30 is close to 50-50. Our three working […]

• EURAUD broke resistance level 1.5000 • Likely to rise to resistance level 1.5400 EURAUD currency pair rising strongly after it broke the round resistance level 1.5000 (which stopped the previous minor wave (a)) intersecting with the resistance trendline from February and the 61,8% Fibonacci correction of the downward impulse form July. The breakout of […]

EURJPY Breaking Out The recent EURJPY long idea has triggered on a break of the 140.82 level, following the reversal off the 137.74 level and bullish trend line. The retail market has turned more aggressively short the pair, supporting the view that we have further to run to the topside here. Price is fast approaching […]

EUR Turns Higher Amidst Market Turmoil It’s becoming a redundant sentence, I know, but what a week. FX volatility is back up at levels not seen since the outbreak of COVID and this has made for plenty of opportunity. We’ve seen many wild swings this week with the boomerang action in GBP clearly the winner […]

EURUSD, “Euro vs US Dollar” After forming a new consolidation range below 0.9744 and breaking it to the upside, EURUSD has completed the ascending wave at 0.9840. Today, the pair may fall to test 0.9744 from above and then start another correction up to 0.9946. Later, the market may resume trading downwards with the target […]

BRENT As we can see in the H4 chart, Brent is trading below the 200-day Moving Average it to indicate a possible descending tendency. The Relative Strength Index has broken the ascending trendline to the downside. In this case, the pair is expected to break 4/8 (87.50) and continue falling towards the support at 2/8 […]

• GBPNZD broke key resistance level 1.9600 • Likely to rise to resistance level 1.9800 GBPNZD recently broke above the key resistance level 1.9600 (upper boundary of the sideways price range inside which the pair has been moving from the end of March). The breakout of the resistance level 1.9600 continues the active impulse waves […]

• CADCHF reversed from key support level 0.7100 • Likely to rise to resistance level 0.7185 CADCHF currency pair recently reversed up from the key support level 0.7100 (former multi-month low from December) intersecting with the lower daily Bollinger Band. The upward reversal from the support level 0.7100 stopped the earlier short-term impulse wave 3 […]

Volatility across asset classes is hitting new highs this year, credit spreads are rising, and the market is trying to calm down after the threat of a financial crisis that has been brewing in the UK pension fund industry has tipped. As a result, demand for defensive assets in FX remains high and is unlikely […]

Eurozone CPI Rises Again The first glimpse at Eurozone CPI for September makes concerning news. Headline CPI was seen breaking out to further record highs at 10% on the month. This marks a further stark increase from the prior month’s 9.1% reading and come sin above estimates for a 9.7% result. Similarly, core CPI was […]

USDCAD, “US Dollar vs Canadian Dollar” As we can see in the H4 chart, after forming an Engulfing reversal pattern close to the support level, USDCAD is reversing in the form of a new ascending wave. In this case, the upside target may be at 1.3900. Later, the market may break the resistance area and […]

EURUSD, “Euro vs US Dollar” EURUSD is no longer trading inside the bearish channel. The instrument is currently moving inside Ichimoku Cloud, thus indicating a sideways tendency. The markets could indicate that the price may test the cloud’s downside border at 0.9745 and then resume moving upwards to reach 1.0115. Another signal in favour of […]