Category: Technial Analysis
The Japanese yen, paired with the US dollar, returned to weakening following a short pause. The current USDJPY quote is 144.45. The US dollar is edging closer to the 145-yen mark, which previously served as the basis for extensive currency interventions. They took place in September and October last year. However, these measures have not […]
The FTSE Finish Line – June 29 – 2023 FTSE Flounders As Investors Weigh Further Rate Rise Uncertainty On Thursday, the FTSE 100, the UK’s leading stock index, experienced slight losses of 0.30% as market participants grappled with uncertainty following the indications of additional policy tightening by top central bankers. The heads of the world’s […]
Hawkish ECB Comments The DAX continues to hold within the 15642.76 – 16278.35 range this week. Hawkish comments from ECB’s Lagarde at the bank’s Sintra Symposium have acted as a headwind, keeping prices weighted to the downside despite some initial strength in the week. The ECB chief reaffirmed the bank’s commitment to pushing ahead with […]
GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD is testing the support area. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the lower border of the Cloud at 1.2665 is expected, followed by a decline to 1.2425. An additional signal confirming the decline will be a rebound from […]
USDCHF, “US Dollar vs Swiss Franc” USDCHF quotes are under the 200-day Moving Average on H4, which indicates the prevalence of a downtrend. The RSI is nearing the resistance line. In this situation, a breakout of 2/8 (0.8972) is expected, followed by a decline to the support level of 0/8 (0.8911). The scenario can be […]
Ueda Hints at Potential Policy Shift In the first clear sign that the BOJ is contemplating a shift in policy, BOJ’s Ueda told markets yesterday that the bank sees good reason for a shift in policy into 2024. While the BOJ expects inflation to cool near-term, the bank projects that prices will likely pick up […]
Better US Data Following a sharp move higher last week, Bitcoin prices have stalled this week as hawkish Fed expectations have side-tracked the rally. A raft of better-than-forecast US data his week has pushed back against those warning of an imminent US recession. Soaring new home sales and rising consumer confidence saw traders eyeing further […]
USDCAD, “US Dollar vs Canadian Dollar” USDCAD has formed a Hammer reversal pattern on H4. Currently, the instrument is going by the reversal signal in an ascending wave. The correction target might be 1.3360. Next, the price might have a chance to rebound from it and continue the downtrend. However, the quotes could drop to […]
EURUSD, “Euro vs US Dollar” EURUSD has broken 1.0920 downwards and continues developing a structure of decline to 1.0880. After the quotes reach this level, a link of growth to 1.0920 is not excluded (a test from below). Next, a decline to 1.0857 is expected, from where the wave could continue to 1.0750. This is […]
The FTSE Finish Line – June 28 – 2023 Sage Leads Blue Chips Higher, BoE’s Bailey Notes Resilient UK Economy The FTSE sended Wednesday’s trading session on a modest positive note gaining 0.25%, following the overnight gains on Wall Street. Bank of England (BoE) Governor Andrew Bailey commented on the UK economy at the Sintra […]