Category: Technial Analysis
Pound Pushing Higher GBP is rallying on the back of yesterday’s BOE meeting, creating some interesting opportunities across the FX space. The reaction might appear at little counter-intuitive given the more dovish tone to the meeting. Dovish Twist The bank held rates unchanged, as expected, yet sounded more optimistic over the prospect of returning inflation […]
USDCAD, “US Dollar vs Canadian Dollar” USDCAD has formed a Hammer reversal pattern on H4. Currently, the instrument could go by the reversal signal in an ascending wave. The correction target might be the 1.3420 level. Subsequently, the price could rebound and maintain downward momentum. However, the quotes might fall to 1.3325 without a correction. […]
NZDUSD, “New Zealand Dollar vs US Dollar” NZDUSD is rebounding from the upper boundary of the descending channel. The pair is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Cloud’s upper boundary at 0.6105 is expected, followed by a rise to 0.6265. An additional signal confirming the rise could be […]
BOE Up Next Following on from the Fed yesterday, the BOE will step into centre stage today. Given the building speculation around anticipating the first 2024 central bank rate cuts, there is plenty of attention on today’s meeting and plenty of volatility risk consequently. Despite the recent uptick in UK inflation, which rose last month […]
Nasdaq Pulls Back On the back of the Alphabet and Microsoft reporting earlier this week, the focus moves back onto big tech names today with Apple, Meta and Amazon all reporting Q4 results. The Nasdaq has turned lower in recent days following a negative market reaction to Tuesday’s results. Despite both companies topping forecasts on […]
EURUSD, “Euro vs US Dollar” EURUSD has completed a corrective wave, reaching 1.0833. After forming a narrow consolidation range around this level, the market moved upwards and rose to 1.0878. This entire structure is perceived as a wide consolidation range around 1.0833. Today downward momentum to 1.0807 is expected to start. A downward breakout of […]
The Australian dollar, paired with the US dollar, is growing on Friday. The current AUDUSD exchange rate stands at 0.6587. Over the past two days, the risk interest factor from investors in the global currency market has worked in favour of the Aussie. Additionally, the AUD has benefited from the local decline in the US […]
Fed Pushes Back on Rate-Cut Calls The US Dollar is seeing a decent bid across early European trading on Thursday. Last night, the Fed held its headline policy rate unchanged as expected while adding additional pushback against near-term rate-cut calls. The Fed warned that it was still too early to be expecting rate-cuts (signalling that […]
The EUR/USD pair isn’t catching a break, heading south for the second day straight and hovering around 1.0790 during the European session on Thursday. The mighty US Dollar is gaining traction against the Euro, riding high on the words of Federal Reserve Chair Jerome Powell, who slammed the door on a rate cut in the […]
USDCHF, “US Dollar vs Swiss Franc” USDCHF quotes are on the 200-day Moving Average on H4, which reveals the lack of any trend. However, a convergence has formed on the RSI, signaling about a possible price rise. As a result, the quotes are expected to break the 6/8 (0.8667) level and reach the resistance at […]