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Daily Market Outlook, April 12, 2023 Markets Marking Time Ahead of CPI & FOMC Minutes Combo Asian equities produced another subdued session taking their lead from lacklustre trading on Wall Street as investors pare risk exposure ahead of today’s double whammy of US inflation data followed by the minutes from the FOMC meeting. The Nikkei […]
More Pessimism From IMF The latest update from the International Monetary Fund yesterday makes for fairly bleak reading. The group was seen cautioning over the downside risks to global growth this year as a result of a combination of factors. Global GDP is now forecast to rise just 2.8% this year, following the latest downward […]
USDCAD, “US Dollar vs Canadian Dollar” On H4, USDCAD has formed a Harami reversal pattern. Currently, the instrument is going by the reversal signal in a descending wave. The target for the decline might be 1.3390. Then the price could break this level and continue the downtrend. However, the price may pull back to 1.3510 […]
The British pound against the US dollar is balancing at zero gravity. The current quote is 1.2446. The pound looks extremely discursive. It has strong fundamental support in the form of new British trade agreements and the weakness of the US dollar. However, investors seem unwilling to use these factors. At the same time, the […]
Retail Heavily Short The retail market is holding a large short position in EURAUD, currently sitting around the 85% level. However, EUR has emerged as one of the strongest performers today suggesting plenty of potential for the pair to continue trading higher, extending the bull trend which has described price action over recent weeks. The […]
TitleEURUSD H4 | Potential reversal from 1st resistance TypeBearish Reversal Preference: Price is currently at our pivot of 1.09266 which is an overlap resistance along with 61.8% Fibonacci retracement. A reverse from here price could drop to 1st support at 1.08756 Alternative scenario:On the other hand, if break above this level could potentially propel the […]