Latest Market News
USDCAD, “US Dollar vs Canadian Dollar” On H4, USDCAD has formed a Hammer reversal pattern. Currently, the instrument is going by the reversal signal in an ascending wave. The target for the correction could be 1.3545. Then the price could rebound from this level and go on with the downtrend. However, the price may drop […]
Equity market investors are getting increasingly nervous and risk-averse as the US economy continues to surprise with bearish economic reports this week. On Tuesday, it was the JOTLS data and the ISM manufacturing report, on Wednesday, the ADP employment report and PMI in the non-manufacturing sector were released, all four of which failed to meet […]
RBA Reassures Markets Over Aussie Banks In its latest semi-annual Financial Stability Review released overnight, the RBA sought to reassure markets over the health of the domestic banking sector. In light of the recent banking sector stresses seen in the US and Europe, the RBA noted that “Banks are well regulated, strongly capitalized, profitable and […]
Oil Traders Increase Longs The latest CFTC COT institutional positioning report shows that oil traders increased their net longs last week, taking the total upside position to 181k contracts from the prior 154k contracts. This jump in bullish positioning comes on the back of 5 weeks of reductions in upside exposure which saw the total […]
TitleNZDUSD H4 | Bounced off from support level TypeBullish Bounce Preference:Price has just bounced off from our pivot point at 0.62807 , which is an overlap support along with a 61.8% Fibo retracement. Price could push up to the 1st resistance at 0.63357 , which is swing high resistance. Alternative scenario:However, if the price were […]
The Australian dollar against the US dollar has been declining for three days in a row. The current quote is 0.6689. Aussie got under pressure after the governor of the Reserve Bank of Australia Philip Lowe announced the decision to make a pause in lifting the interest rate. Before that, the rate had grown ten […]