Category: Technial Analysis
EURUSD, “Euro vs US Dollar” After completing another descending wave at 0.9535 along with the correctional structure up to 0.9727, EURUSD is forming a new descending structure to break 0.9575. Later, the market may continue trading downwards with the target at 0.9408. GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD has finished the correction up […]
USDCHF, “US Dollar vs Swiss Franc” In the H4 chart, USDCHF is trading within the “overbought area”. The Relative Strength Index is heading towards 30 and is currently testing the support line, a breakout of which might signal a further downtrend. In this case, the pair is expected to break 8/8 (0.9765) and then continue […]
• EURCAD broke resistance level 1.3300 • Likely to rise to resistance level 1.3500 EURCAD currency pair rising strongly after the breakout of the resistance level 1.3300 (top of wave (i) from the middle of September) intersecting with the two resistance trendlines from March and February. The breakout of the resistance level 1.3300 continues the […]
• EURGBP reversed from long-term resistance level 0.9200 • Likely to fall to support level 0.8800 EURGBP falling after the pair reversed down from the powerful long-term resistance level 0.9200 (which has been reversing the price from the middle of 2020), standing far above the upper weekly Bollinger Band. The downward reversal from the resistance […]
Oil Traders Cover Shorts The latest CFTC COT institutional positioning report shows that oil traders increased their net long positions in oil last week from 227k contracts to 240k contracts. This marks the second straight week of position building in oil, bringing the total upside position higher off the recent lows around 214k contracts, mostly […]
BNY Mellon BOE: Avoiding UK Mortgage Mayhem The Bank of England went to great lengths Wednesday to stress that its intervention in Gilt markets is purely a financial-stability-related operation. The time-limited and targeted nature of the purchases is clearly different from the operational parameters of quantitative easing or yield curve control. Coupled with the fact […]
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 […]