Category: Technial Analysis

After updating its multi-year lows again, the major currency pair rebounded. The current quote for the instrument is 0.9656. Last night, the local interest in risks improved a bit, helping the asset to successfully correct. Investor continue paying much attention to the news but none to the statistics. In the meantime, the US Goods Trade […]

The Pound Sterling is keeping balance against the USD as much as possible. The current quote for the instrument is 1.0800. The news released yesterday were rather puzzling. The Bank of England announced its decision to buy long-term bonds to calm markets starting 28 September, thus stopping the bond buying programme that started earlier. The […]

Netflix Shares Higher on Thursday Shares in US streaming giant Netflix are seeing a fresh wave of buying this week. Along with the drop in USD yesterday, which helped lift equities across the board, Netflix is also benefiting from news that it will launch its first gaming studio. The studio, which will be based in […]

BOE Emergency Measures Announced The Bank of England yesterday was forced to take emergency action in the UK bond market, announcing £65 billion in purchases to be completed over the next 13 working days. The surprise announcement comes just days after the BOE issued a statement in response to the collapse of the Pound noting […]

XAUUSD, “Gold vs US Dollar” As we can see in the H4 chart, XAUUSD has formed a Harami reversal pattern not far from the resistance area. At the moment, the asset may reverse in the form of a new descending impulse. In this case, the downside target may be at 1615.00. At the same time, […]

GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD is stuck inside the Triangle pattern. The instrument is currently moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s downside border at 1.0825 and then resume moving downwards to reach 1.0205. Another signal in favour of […]

GBP Finds Equilibrium – For Now Following the heavy volatility we saw in GBP on Friday and Monday, price action has since stabilised. In GBPUSD in particular, price plunged almost 5% on Monday before reversing around 70% of those losses. The market has since been underpinned by support at the 1.0646 level though looks vulnerable […]

BNY Mellon Reserve Import Cover Shows Vulnerability Although August macro data for APAC countries in general showed continued deterioration, one relative bright spot was tentative signs of stabilization in economic conditions in China. Aside from declining credit growth (aggregate financing eased 0.2ppt to 10.5%), China’s activity data otherwise was encouraging. Examples of recovery signs came […]

AUDJPY Reversing Heavily AUDJPY has undergone a sharp shift in sentiment over recent weeks. Following the breakout to fresh 2022 highs in mid-September, the pair has now collapsed and traded down from around 98.80s to 92.20s currently. The reversal comes amidst a heavy wave of risk aversion sweeping across markets which is fuelling safe-haven demand […]

Copper Turning Lower The recent short idea issued in copper futures has triggered on a break of the 3.3445 lows this week. Copper prices have turned sharply lower following the rejection at the 3.7300 and with support now broken, the focus is on a move down towards the 2.9610 level next. With the US Dollar […]