Category: Technial Analysis
Political Instability Rocks PoundThe British Pound is undergoing a sharp shift in sentiment this week. News of major political resignations yesterday have exacerbated the atmosphere of uncertainty and fear among UK investors. While the current UK administration has been no stranger to adversity, scandal and in recent times, almost falling apart, news yesterday of Rishi […]
INGUSD: Macro themes continue to drive financial markets.One does not have to look too far beyond the inverted US yield curve or the collapse in copper to understand that investors continue to re-price global growth prospects lower. Bank of England Governor Andrew Bailey yesterday said that the global growth outlook has ‘deteriorated markedly’. The big […]
EURUSD plummeted to its 20-year lows amid global risk aversion. The major currency pair quickly plunged on Wednesday. The current quote for the instrument is 1.0263. The last time the EUR hit this level was in December 2002. What happened? Nothing new, actually. Investors are once again worrying about the recession and really started to […]
EURUSD, “Euro vs US Dollar” After breaking the consolidation range downwards, completing the descending wave at 1.0300, and then forming a new consolidation range around the latter level, EURUSD has broken it to the downside as well and may continue falling with the target at 1.0220 or even extend this structure down to 1.0000. Later, […]
Yields fall to a five-week low ahead of the Fed meeting minutes. Benchmark Treasury yields in the United States fell to five-week lows on Wednesday, as inversions in key parts of the yield curve deepened ahead of the release of minutes from the Federal Reserve’s June 14-15 meeting. Yields rose in the run-up to the […]
Amazon Shares ReboundingAmazon shares are turning higher today with the company’s stock price once again attempting to break out above the bear channel from YTD highs. The move comes amidst news that Amazon has agreed to take a 2% stake in US food-delivery service Grubhub. As part of the deal, Amazon prime users in the […]
CADJPY on WatchPrice action in CADJPY is starting to looking interesting here to the short-side. The pair has been trending steadily higher this year. However, over the last month, we are starting to see signs that the pair might be topping out. Currently, the pair is at risk of putting in a double top (with […]
GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD is about to break the support level. The instrument is currently moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test Tenkan-Sen at 1.2035 and then resume moving downwards to reach 1.1575 Another signal in favour of a further […]
GBPUSD is another victim of global risk aversion. The Pound sterling is looking weak against the USD on Wednesday. The current quote for the instrument is 1.1949. Risk aversion amid a new wave of concerns about a possible global recession hurt the Pound as well. The last time the British currency was trading at its […]
Gold prices drop about $3, during trading today, Wednesday, July 6, 2022, but it remained near the lowest level in 7 months. This comes as the dollar rose to its highest level in two decades, as investors continued to neglect the yellow metal and look to the greenback, in search of safety amid growing concern […]