Currency-Controller

Currency-Controller Updated 

US stocks slip, oil surges on Middle East conflict Gold was also in demand, rising 1.1% to $1,852 an ounce. In currency markets, the yen was the main gainer though moves were modest overall. The euro eased 0.3% to 157.37 yen, while the dollar dipped 0.1% to 149.14 yen. The euro also eased 0.3% on the dollar to $1.0552. The cautious mood was a balm for...

Currency-Controller

The IGCS gauge shows that about 65% of retail traders are net-long EUR/USD. Since most of them remain biased higher, this continues to hint that prices may continue falling down the road. That said, we have seen downside bets increase by 7.05% and 14.98% compared to yesterday and last week, respectively. With that in mind, recent shifts in positioning hint that...

Currency-Controller

Gold price bounces back after a losing streak, currently trading around 1,830 per ounce. However, caution over the US Federal Reserve's interest rate trajectory could pose challenges for gold prices. Lower year-end forecasts are expected due to anticipated higher rates from the Fed. The US Dollar Index retreats from an 11-month high following weak employment data,...

Currency-Controller

EUR/USD continues to advance, hovering around the 1.0520 level, with attention now turning to the latest US Jobless Claims data. EUR/USD gains in previous session continue, trading higher around 1.0520 during Asian trading on Thursday. Challenges arise due to market caution over US Federal Reserve's interest rate trajectory. Euro still faces risks despite...

Currency-Controller Updated 

The EUR/USD pair continues to face downward pressure, staying below the 1.0500 level, as traders await the release of Eurozone Producer Price Index (PPI) and Retail Sales data. The EUR/USD pair continues to face selling pressure around the 1.0475 level, following a rebound from its ten-month low around 1.0450 in the early hours of Wednesday's Asian trading...

Currency-Controller Updated 

Gold awaits impactful US jobs data for fresh impetus Gold is licking its wounds near 1,820, after hitting a seven-month low of 1,815 on Tuesday. All eyes now turn to the impactful US ADP jobs data and the ISM Services PMI report for fresh trading impetus to XAU/USD prices.

Currency-Controller

GBP/JPY trading steady near 180.00 after nearly 300 pip drop, rumors of BoJ intervention The GBP/JPY pair was completely devastated at the start of Tuesday, plummeting nearly 300 pips within 60 seconds to only 178.00. Market participants speculate that the Bank of Japan (BoJ) intervened in the global currency market to protect the Japanese Yen (JPY), but...

Currency-Controller

EUR/USD languishes near YTD low, just above mid-1.0400s on bullish USD The EUR/USD pair hits a new low for the year on Tuesday, facing pressure from various factors. The Euro is being undermined by the belief that additional rate hikes from the ECB may not happen. Additionally, the USD is strengthened by the Federal Reserve's hawkish stance, resulting in the...

Currency-Controller

GBP/JPY technical outlook The GBP/JPY is struggling to keep itself above the 200-hour Simple Moving Average (SMA) currently marked in at the 182.00 handle, and intraday action sees the pair getting hung up on the 34-hour hour Exponential Moving Average (EMA). Daily candlesticks sees the Guppy hung up between the 34-day EMA and the 100-day SMA at 182.93 and...

Currency-Controller

USD/JPY is extending gains toward 150.00, flirting with fresh 11-month highs in Asian trading on Monday. The pair is supported by the renewed upswing in the US Treasury bond yields and dovish BoJ commentary. However, Japanese FX intervention risks mount.

Currency-Controller

The EUR/USD is facing difficulty in establishing a clear direction and is fluctuating within a narrow range on Monday. The USD, considered a safe-haven currency, is being undermined by the prevailing risk-on sentiment, which is providing some support to the currency pair. The Euro, on the other hand, is being weakened by the belief that the possibility of...

Currency-Controller Updated 

The Relative Strength Index (RSI) indicator on the 4-hour chart has started to rise after reaching a low of 30 earlier today, indicating that EUR/USD is undergoing a technical correction. On the positive side, the level of 1.0600 (a psychological level and the midpoint of the descending regression channel) acts as immediate resistance before 1.0650 (the 50-period...

Currency-Controller

From a technical perspective, the Relative Strength Index (RSI) on the daily chart has just started drifting in the oversold zone and helps limit the downside for the Gold price. The subdued range-bound price action, meanwhile, might still be categorized as a bearish consolidation phase and the lack of any buying interest suggests that the path of least resistance...

Currency-Controller

GBP/JPY skids along the bottom, bears looking for 181.00 The GBP/JPY is experiencing a decline of approximately 80 pips as the market session commences on Wednesday. The Pound Sterling (GBP) is showing weakness in comparison to the Japanese Yen (JPY). The currency pair has dropped by around 1.3% since last week's high and is currently down by over 3.0% from its...

Currency-Controller

USD/JPY oscillates in a range around 149.00 mark, just below the YTD peak set on Tuesday The USD/JPY pair is encountering difficulty in finding substantial momentum on Wednesday and is fluctuating within a limited trading range during the Asian session. Presently, spot prices are hovering around the 149.00 level, slightly below the peak reached on Tuesday, which...

Currency-Controller

USD/JPY retraces the losses registered on Thursday on the back of a policy rate decision by the Bank of Japan (BoJ). As widely expected, BoJ maintained its current interest rates at -0.1%. The spot price is trading higher around 148.30 during the early trading hours of the European session on Friday.. All signals are personal opinions, please do not follow or...

Currency-Controller

GBP/JPY technical outlook The GBP/JPY failed to hold onto rebound gains, etching in a high of 182.30 on Friday before settling lower, looking to establish a break of 181.50 to close out the week's trading session. The pair remains firmly bearish below the 200-hour Simple Moving Average (SMA) which is currently pricing in resistance from 183.00.

Currency-Controller

The aforementioned fundamental backdrop seems tilted firmly in favour of bullish traders and suggests that the path of least resistance for the GBP/USD pair is to the downside. That said, the Relative Strength Index (RSI) on the daily chart is flashing oversold conditions and warrants some caution. In the absence of any relevant macro releases, either from the UK...