After closing the second consecutive day in negative territory on Wednesday, GBP/USD continued to edge lower early Thursday and was last seen trading at around 1.2650 Although the technical outlook points to a bearish tilt in the near term, the pair faces a two-way risk heading into the Bank of England's (BoE) policy announcements.
Gold On the daily chart, we can see that has recently broke through the key trend that was defining the downtrend and it has opened the door for a rally into the 2060 resistance zone. The buyers will now look for dip-buying opportunities on the lower timeframes while the sellers will need some key breakouts to the downside to gain back control.but we see the sell
Usdjpy On the 1 hour chart, we can see more closely the price action inside the channel with the price now close to a level where we got rejections from in the past few days. More aggressive traders might want to trade either a rejection from the level or a breakout to the upside, but ultimately the best levels, from a risk to reward perspective, are the...
USD/CHF Long • If price corrects and a subsequent two touch tight fifteen minute flag forms, then I'll filter the latter on the five minute chart and be looking to get long with either a risk entry within it if the flag is structured, or a reduced risk entry on the break of it if it's unstructured or I don't manage to secure a risk entry. • If my entry...
A potential Head and shoulder has presented itself after hitting a previous Supply level above and falling over 250pips yesterday. Lower Prices are expected till the end of the week
The USDCHF fell below a KEY FLOOR LEVEL that I have been monitoring from a technical perspective at 0.86048. That break opened the door for further downside momentum the price has since fallen below its 200 bar moving average on the 4-hour chart at 0.8573 (see chart below), and the 38.2% retracement of the move up from the December low at 0.85765 Staying below...
The US Dollar Index (DXY) might find its catalyst this Wednesday.dxy fall more because of FOMC For nearly two weeks now it has been unable to trade away from both the 55-day (103.03) and the 200-day (103.54) Simple Moving Averages despite several false breaks and both MAs getting all chopped up. Although the Fed meeting this Wednesday is unlikely to usher in any...
WTI Oil is a type of Crude Oil sold on international markets. The WTI stands for West Texas Intermediate, one of three major types including Brent and Dubai Crude. WTI is also referred to as “light” and “sweet” because of its relatively low gravity and sulfur content respectively. It is considered a high quality Oil that is easily refined. It is sourced in the...
Bring on the pain. Tech shares are being smacked in European morning trade, as S&P 500 futures and Nasdaq futures are sinking lower on the session. The former is down 0.4% while the latter is down 1.4% on the day now. There was a slight respite as European traders got to their desk today. However, that has quickly turned ugly in the last half-hour: S&P index lower...
Nadusd Business Confidence report for New Zealand shows a positive change in business outlook, with a rise to 36.5 in January from the previous reading of 33.3. This suggests an improvement in the sentiment among businesses regarding the economic environment. However, the ANZ Activity Outlook, which measures expectations for firms' own activity, registered a...
gold now bullish More today because of fomc Gold comes under some selling pressure following the overnight pullback from a two-week top, around the $2,047-2,049 area, and remains depressed heading into the European session on Wednesday. Investors further scaled back their expectations for an early interest rate cut by the Federal Reserve (Fed) after the JOLTS...
January has been a mixed month for Bitcoin. The coin jumped to a multi-year high of $49,010 after the SEC gave the green light for eleven spot ETFs. This was an important move because it took Bitcoin mainstream and made it available to institutional investors. Bitcoin then retreated sharply as investors sold the ETF news. It moved from $49,070 to a low of $38,510...
The EUR/USD pair moved sideways after Eurostat published better-than-expected economic numbers on Tuesday. The report revealed that the economy avoided a recession narrowly in Q4 as it stagnated. It expanded by 0.1% on a YoY basis, higher than the expected 0.0%. In Spain, the economy expanded by 2.0% in Q4 while in France, it rose by just 0.6%. The other important...
In my view, the euro is currently in a period of low probability. It's possible that for the remainder of the week, I'll stay out and observe. I tend to believe that the low will be visited in the coming days.
NZD/USD Short • If price pushes up to and ideally just above our area of value, then regardless of how it does so I'll be waiting for a subsequent impulse back down on the one hour chart followed by a tight two touch fifteen minute flag and then I'll filter the latter on the five minute chart and be looking to get short with either a risk entry within it if the...
GBP/JPY is trading sideways just below the Tenkan-Sen level at 187.72 dot. If buyers lift the exchange rate above the Tenkan Sen, that will open the door to challenging the January 23 high at 188.91, but firstly they would need to reclaim 188.00. On the flip side, if sellers step in and drag prices below the January 30 low of 186.41, that will open the door to...
gbpusd confirm analysis of buy soon gbpusd buy mare than expected is going to be a really busy one with the FOMC rate decision and lots of economic data on the agenda. We begin today with the US Job Openings and the US Consumer Confidence reports. Tomorrow we will see the US Employment Cost Index and the ADP data before the FOMC rate decision later in the day On...
NZD/USD Short • If price pushes up to and ideally just above our area of value, then regardless of how it does so I'll be waiting for a subsequent impulse back down on the one hour chart followed by a tight two touch fifteen minute flag and then I'll filter the latter on the five minute chart and be looking to get short with either a risk entry within it if the...