Market Analysis

USDJPY, “US Dollar vs. Japanese Yen” As we can see in the H4 chart, after breaking the 200-day Moving Average, USDJPY is trading above it, thus indicating a possible ascending tendency. In this case, the price is expected to test 6/8, break it, and then continue growing to reach the resistance at 7/8. However, this […]

EURUSD, “Euro vs US Dollar” After forming a new consolidation range around 1.1410 and breaking it to the downside, EURUSD has extended the correction down to 1.1315; right now, it is starting to form one more ascending structure towards 1.1494. The first target is at 1.1410. GBPUSD, “Great Britain Pound vs US Dollar” Having formed […]

GBP In Demand As Inflation SoarsThe British Pound is catching a bid again today following news that UK inflation hit its highest level in thirty years last month. The Office for National Statistics reported this morning that headline UK CPI rose by 4.8% month-on-month in December, up from 4.1% in November. Annually, inflation surged to […]

Credit AgricoleAsia overnightUST yields holding onto yesterday’s gains kept downward pressure on sentiment in Asia. Most Asian bourses and S&P 500 futures were trading lower at the time of writing. The JPY was the outperformer in G10 FX on the back of weaker risk sentiment. The NZD was supported by the NZ rates market pricing […]

• Gold broke resistance level 1825.00 • Likely to rise to resistance level 1860.00 Gold continues to rise after the earlier breakout of the resistance level 1825.00 (top of the previous impulse wave (i)), intersecting with the 61.8% Fibonacci correction of the earlier downward correction from November. The breakout of the resistance level 1825.00 continues […]

• EURCAD reversed from key support level 1.4170 • Likely to rise to resistance level 1.4250 EURCAD recently reversed up from the key support level 1.4170 (previous Double Bottom from November), – strengthened by the lower daily Bollinger Band. The upward reversal from the support level 1.4170 stopped the previous sharp downward impulse waves (iii) […]

EURUSD had one of the worst trading sessions in recent times. The major currency pair dropped yesterday and remains rather weak today. the current quote for the instrument is 1.1340. The “greenback” is still supported by the US 10-year bond yield, which continues increasing, and the global stock market decline. At the same time, the […]

After a recent drawdown, GBPUSD is consolidating; the Pound badly needs support.  The British Pound stopped its decline against the USD in favour of consolidation. The current quote for the instrument is 1.3611. The factor that supported the Pound earlier, expectations of a possible rate hike soon by the Bank of England, is no longer […]

Aussie Employment Data In Focus TonightLooking ahead to tonight’s Asian session (Weds/Thurs overnight), the key data releases to note are the Australian unemployment rate and employment change numbers. Given the firm trajectory in the labour market rebound, the market is looking for the unemployment rate to fall lower again to 4.5% from the prior 4.6%.With […]

CAD CPI In FocusToday’s Canadian CPI print will be the key data focus for the US session. CAD has been one of the strongest performers of 2022 in light of the uptick in oil prices and hawkish BOC expectations. With that in mind, today’s data has the potential to further accelerate the rally, or hit […]

GBPUSD, “Great Britain Pound vs US Dollar” As we can see in the H4 chart, after an attempt to test and break 76.0% fibo, GBPUSD has started a new decline, which may transform into a proper descending wave towards the low at 1.3160. The key resistance and the next upside target are the high at […]

EURUSD, “Euro vs US Dollar” EURUSD is trading at 1.1330; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s downside border at 1.1365 and then resume moving downwards to reach 1.1225. Another signal in favour of a further downtrend will be […]