Market Analysis

EURUSD keeps fluctuating at big amplitude. The current quote is 1.0800. The yield of treasury bonds in the US dropped quite a bit yesterday, pulling the USD down. Investors are nervous that recession in the US economy might grow, especially after statistics gave such signals. So, the news is as follows. Retail sales in the […]

EURUSD, “Euro vs US Dollar” The currency pair is testing the the support area. The instrument is going above the Ichimoku Cloud, implying this an uptrend. A test of the upper border of the Cloud is expected at 1.0780, followed by growth to 1.1030. An additional signal confirming the growth will be a bounce off […]

EURUSD, “Euro vs US Dollar” On H4, at the support level, the pair has formed an Inverted Hammer reversal pattern. The pair may now go by the signal in an ascending wave. The goal of the growth may be 1.0930. However, the price may pull back to 1.0765, bounce off it, and continue the uptrend […]

EURUSD, “Euro vs US Dollar” The currency pair has corrected to 1.0868. After the correction was over, a wave of decline to 1.0793 followed. At the moment, the market is forming a consolidation range around this level. Today an escape upwards is expected, so that the wave will extend to 1.0718. The goal is local. […]

The Japanese yen against the US dollar has dropped noticeably. The current quote is 130.91. Today the BoJ had a meeting where they decided to keep the ultra soft monetary policy in force. The interest rate remained at -0.10% as expected. In the parallel universe, there are market expectations that the CB corrects its monetary […]

USDJPY, “US Dollar vs Japanese Yen” On H4, the quotes are under the 200-day Moving Average which indicates a downtrend. The RSI is nearing the overbought area. As a result, a bounce off 4/8 (131.25) is expected, followed by falling to the support level of 2/8 (128.12). The scenario can be cancelled by rising over […]

The Bank of Japan dismissed market rumors about further adjustments in the yield curve control and left the policy unchanged today, disappointing recent yen buyers. The  Bloomberg report released yesterday about the ECB plans to execute more caution in the rest of the tightening cycle caused brief market embarrassment sending EURUSD to 1.08 and below, […]

The unexpected rebound of the Chinese economy as seen in the latest batch of Chinese data reinforced the idea that a hidden China economic momentum will unlock the upside in pro-cyclical currencies, including the euro. The decline in natural gas prices pushes the idea of an energy crisis deep to the sidelines causing revisions of […]

USDCAD, “US Dollar vs Canadian Dollar” On H4, at the support level the pair has formed a Hammer reversal pattern. The pair is now going by the signal in a correctional wave. The goal of the decline might be 1.3455; then the price may bounce off the resistance level and continue falling. However, the price […]

GBPUSD, “Great Britain Pound vs US Dollar” The pair is testing the resistance level. The instrument is going above the Ichimoku Cloud, which implies an uptrend. A test of the Kijun-Sen line is expected at 1.2170, followed by growth to 1.2485. An additional signal confirming the growth will be a bounce off the lower border […]

GS Shares Tank on Q4 Results Shares in Goldman Sachs are on the backfoot today following heavy losses yesterday amidst a weaker-than-expected set of Q4 earnings. On the back of solid results from JPM and Citi last week, investors were hoping for a similar display from Goldman. However, with EPS coming in at $3.32 vs […]

Key US Data Up Next Today sees a double whammy for US data with both December PPI and Retail Sales due. On the back of weaker-than-forecast US inflation, today’s data is drawing more attention-than-usual. USD has been in decline since those Dec CPI figures were released with traders now anticipating a further pivot from the […]