Market Analysis

USDCAD, “US Dollar vs Canadian Dollar” USDCAD is correcting after a rebound from the support level. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the Kijun-Sen line at 1.3415 is expected, followed by a decline to 1.3195. An additional signal confirming the decline will be a rebound from […]

USDCAD, “US Dollar vs Canadian Dollar” On H4, USDCAD has formed an Engulfing reversal pattern. The instrument is currently going by the reversal signal in an ascending wave. The pullback target could be 1.3420. Next, the price might rebound from this level and continue the downtrend. However, the price might drop to 1.3290 before correcting […]

Oil Traders Cut Longs The latest CFTC COT institutional positioning report shows that oil traders cut their long positions for a second week running last week. Total upside exposure fell to 215k contracts from around 236k contracts previously. While crude prices had been falling sharply following the reversal from April highs, prices have rebounded over […]

PPI On Watch Following on from yesterday’s CPI reading, traders will today turn their focus to the latest US PPI reading. Rate hike expectations for June have fallen sharply on the back of yesterday’s softer-than-forecast US CPI data. Pricing for a further .25% hike now sits below 10%, down from around 20% ahead of the […]

The Australian dollar against the US dollar maintains a growth momentum. The current quote is 0.6766. The statistics from yesterday showed that retail sales in Australia increased by 0.4% m/m as expected. The business sentiment index in April rose slightly to 0 points from -1 point previously. Firstly, the AUD is finding a foothold in […]

The NFP report released on Friday has transformed the perception of a rate hike by the Federal Reserve in June from unrealistic to tangible possibility. Strong inflation risks emerged from the data, with the unemployment rate reaching a multi-year low of 3.4% and monthly wage growth heating up to 0.5%. With prior confidence in the […]

TitleBTCUSD H4 | Bullish reversal off overlap support TypeBullish Bounce Preference:Price is approaching the pivot point of 27153.13 and potentially reverse from here, we could see momentum carry price up to its 1st resistance of 28762.98. Alternative scenario:If price breaks below the pivot point, it could hit the 1st support of 26495.34. To discuss this […]

EURUSD, “Euro vs US Dollar” The currency pair completed a wave of decline to 1.0940. Today the market has performed a link of correction to 1.0976. A new structure of decline is expected to develop to 1.0933. This is a local target. After the price reaches this level, a correction to 1.0933 could develop, followed […]

EURUSD, “Euro vs US Dollar” On H4, the quotes are above the 200-day Moving Average, indicating an uptrend’s prevalence. The RSI has broken the resistance line. In this situation, the quotes are expected to break the level of 4/8 (1.0986) and reach the resistance level of 6/8 (1.1108). The scenario can be cancelled by a […]

US CPI On Watch  Today’s US inflation reading comes at an interesting time for the market. Against a backdrop of the ongoing debt ceiling standoff, USD has stagnated in recent sessions. Indeed, looking at the DXY chart we can see that the Dollar has been stuck around current levels for the last 5 weeks, during […]

Muted Action in Markets Following US Jobs – CP In Focus This Week We’ve seen a rather muted start to the week for equities markets on the back of the volatility seen on Friday. The latest round of US jobs data provoked a sharp rally across the board as investors cheered a solid set of […]

The most traded currency pair declined on Wednesday. The current EURUSD quote is 1.0970. Tensions on the market have been high in the last week while everyone was awaiting the Fed’s decision on the interest rate, followed by the expectation of the US labour market statistics for April. Market participants are now following the public […]