Category: Technial Analysis
GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD is pushing off the Tenkan-Sen line of the indicator. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Kijun-Sen line at 1.2395 is expected, followed by growth to 1.2685. An additional signal confirming the decline will be a rebound from […]
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 […]
EURUSD on Thursday is stable. The current quote is 1.0890. The data published yesterday demonstrated that the ADP private employment index in the US in March had grown by 145 thousand while an increase by 200 thousand had been expected. The bad impression was smoothed out by the revision of the previous report: it changed […]
CAD Rallies on Oil Gains The Canadian Dollar has seen plenty of strength over the European morning on Thursday. Despite a weaker risk backdrop, the rally in oil prices this week on the back of recent OPEC+ production cut announcements has seen CAD enjoying a wave of fresh demand. Interestingly, the retail market is holding […]
Oil Price Boost Shares in US energy company Phillips 66 are surging higher ahead of the US open today on the back of a solid 6.5% gain yesterday. The rally comes on the back of the recent OPEC+ production cut announcement which has seen oil prices increasing and many players revising higher their oil price […]