As the U.S. Dollar saw a week-long rally throughout last week, Gold saw a slump of around $30 an ounce.
On the back of this, we have seen the price decline to the longer term supporting trendline that stretches back to the low of August 2018 and as of writing, it is currently testing that trendline.
Could a close below start a new leg lower? One of the major...
In light of the continued positive rally from April and into May. today we're going to take a quick look at the Bitcoin chart.
Yesterday saw the digital currency cross over the $6,000 mark, a 6 month high for the digital asset, this is still a far cry from Bitcoin's peak of $19,511.00, according to Bloomberg.
One of the drivers behind the more recent leg higher...
The Japanese Yen slid against the majority of the Major currencies over the past week or so, the Sunday open last night saw the Yen crosses all gap a significant amount, in the Yens favour.
Today, we’re going to be taking a look at GBPJPY as Sterling has also seen a slide and so has exacerbated the move.
When we last looked at the GBPJPY 2 Hour chart, we...
With the Sterling continuing to slide against the U.S. Dollar and the Yen Strengthening overnight on the back of the looming Japanese holidays, today we are taking a look at the GBPJPY cross as this is seeing some volatility currently.
As Japan's "Golden Week" Holidays loom, with Japanese financial markets shut for 10 days, we are seeing traders cut risk...
Today we are revisiting the USDMXN Daily chart, in a previous COTD back in February we looked at the Daily price action and what was a potential shorter-term set up (take a look here.
The Shorter-term set-up didn't pan out on the back of a weaker dollar and more exotic shift on the back of this. But as the Dollar films a little bit we are going to revisit as the...
A Quiet day today in the markets with it being Good Friday, with a lot of people on the trading desks out for the long weekend we have seen thin volumes across all the markets that have remained open and very subdued moves in the currency markets.
In light of this, we are going to take a look at a longer-term chart today, in the form of the USDCHF Daily chart....
Taking a look at Oil today for the chart of the day.
One of the more volatile assets on the market, Oil has had a turbulent 6 months, trading down from highs of $76.88 to the lows of $45.15 all within the final quarter of 2018. 2019 however, has seen it recover a good portion of that and we are now trading at $64.44, April has seen Oil stop in its tracks and for...
Revisiting our Chart of the Day from Tuesday, where we took a look at the safe haven asset of Gold.
On Tuesday we were seeing Gold catching a bid and trading higher on the back of a softer dollar and investors cycling out of riskier assets and aligning themselves with the risk-off assets.
We discussed the longer-term setup of the head & shoulders pattern...
After a softer day for the U.S. Dollar yesterday we saw risk-off assets catch a bid, one of those being gold.
Since February highs at 1346.74, we have seen the safe haven asset sell off and make lower highs, which have formed the declining trendline (seen by the black dashed line). However, in recent days with the U.S. Dollar softening, Gold has found some...
After a sleepy start to 2019 for the digital currency, yesterday saw a return of volatility to the digital asset.
5 a.m. Tuesday morning saw the price rally in a big way, above the psychological handle of $5,000, we have since peaked to highs of $5,087.54 this morning. The price is still hovering around the $5,000 mark but since establishing the high has slipped...
Revisiting USDJPY today as we have seen some significant moves since the last time we examined the pair.
Since we last spoke about USDJPY we have seen the USD weaken and the market wide risk appetite favour the Japanese Yen, which saw the price break down below the supporting trendline and with conviction, aided by the lower highs and overbought sentiment showed...
After the overnight moves in both the Aussie crosses and the early moves in the EU Session for the USDJPY pair today we are going to take a look at AUDJPY cross.
As the AUDUSD grinds ever closer to breaking the key support of 0.70 level and USDJPY remains stuck between 108 & 112 so far through 2019, we are currently in an interesting spot for AUDJPY.
After...
Reflecting on the first quarter of 2019 today as we approach the end of March and taking a look at one of the currency pairs that has dominated news wires and trading desks alike, that is, of course, Cable (GBPUSD).
2019 has seen the tumultuous asset trade from lows of 1.2441 all the way to highs of 1.3381, although it may not be the most aggressive rally or the...
Taking a look at the USDCHF Daily chart today.
Technically, we are in an interesting spot for the cross, having just crossed through parity (when currency crosses are equal - i.e. 1 US dollar = 1 Swiss Franc).
Currently, the pair is being supported by two bullish trendlines, one dating back to 2011 and the other (dashed line) dating back to Feb of 2018. Price is...
Revisiting USDJPY today as the pair continues to hover around some interesting areas.
2 weeks ago we had USDJPY as our chart of the day where we took a look at some of the fundamental drivers affecting the pair.
Whilst the fundamental factors still stand for the Yen half of this particular asset over the past two weeks we have seen some weakening on the US...
