Latest Market News
The Japanese yen has grown quite a bit against the US dollar. The current quote is 132.60. At today’s meeting, the BoJ decided to keep the interest rate without a change at -0.10% a year. What came as a surprise was the announcement of an unlimited purchase of one to five-year bonds. The sum meant […]
On Tuesday, the British pound against the US dollar is neutral. The current quote is 1.2160. The statistics published yesterday demonstrated that the CBI production order balance in Britain in December had dropped to -6 points from -5 points previously. However, the statistics turned out better than expected because the forecast was -10 points. Previous […]
GBP Falls on Divided BOE Hike In stark contrast to the price action we’ve seen in EUR following the ECB, GBP has been on the backfoot following the December BOE meeting. The UK central bank pushed ahead with a further .5% hike as expected, taking rates to their highest level in 14 years. However, there […]
Type: Bearish Drop Key Levels:Resistance: 2569Pivot: 2422Support: 2470 Preferred Case:Looking at the H4 chart, my overall bias for CC1! is bearish due to the current price being below the Ichimoku cloud , indicating a bearish market. If this bearish momentum continues, expect price to break the support at 2470, where the 61.8% Fibonacci line is […]
How do currency markets work? In contrast to trading shares or commodities, forex trading occurs directly between two parties in an over-the-counter (OTC) market. The forex market is run by a global network of banks which is split among four significant forex trading hubs in different time zones: London, New York, Sydney and Tokyo. Forex […]
AUDUSD, “Australian Dollar vs US Dollar” On H4, AUDUSD quotes have broken through the 200-day Moving Average and are resting under it, which hints on possible development of a downtrend. The RSI is nearing the oversold area. A downward breakaway of 5/8 (0.6652) is expected, followed by falling to the support level of 4/8 (0.6591). […]