According to the Markets Strategist Quek Ser Leang and Senior FX Strategist Peter Chia from UOB Group, there is a possibility of a further decline in the EUR/USD exchange rate in the near future. In their recent analysis, they highlighted that the EUR could weaken further but a clear break of 1.0500 is unlikely. Although the EUR traded mostly sideways with a brief...
Walt Disney's Stock: A Look at its Recent Challenges and Future Prospects under New CEO Bob Iger With a market capitalization of around $170 billion, Walt Disney is one of the largest entertainment companies globally. However, with its stock price down over 30 percent from last year, investors may be questioning the value of the company's stock. After Bob Iger's...
According to a report by the Telegraph, the Bank of England has been engaged in emergency talks with international counterparts as concerns continue to escalate over the deteriorating situation at Swiss bank, Credit Suisse Group AG (CSGN.S). The bank has been experiencing significant financial struggles in recent times, leading to uncertainty and instability in...
After pulling back to the 61.8% FIBO level and encountering dynamic resistance, GBP/USD experienced a bullish impulse yesterday that brought the price up to 1.2150. Today, there is potential for the price to continue rallying in the direction of the main trend with a new short impulse. However, we are anticipating a bearish continuation.
Looking ahead, the level of 131.00 is being closely watched by USD/JPY bears, as it may come under pressure in the coming days. Bulls, on the other hand, will need to hold on to 4-hour support. Currently, USD/JPY is trading at 133.40, up from Thursday's Tokyo stock market close of 132.74. Following Credit Suisse's announcement of borrowing up to $54 billion from...
Let's take a look at some fundamental news regarding EUR/USD: Commerzbank's economists have reported uncertainty regarding the market reaction to the European Central Bank's (ECB) decision today. There are doubts whether the market reaction to the ECB decision will be "normal," given the current situation. The question is, what will the ECB decide today, and how...
As described in our previous ideas, the AUD/USD is still inside a bearish channel, where the dynamic trend line has worked as support to prevent the price from correcting. In the last session, our attention was focused on the formation of an AB=CD pattern, which sees the Target D at the price of 0.6500 before a new correction. The C point of the pattern had a...
On Wednesday, the USD/CAD experienced a wild ride due to renewed pressure on oil prices, which weakened the Canadian Dollar and sent the pair to the 1.3800 level. The price pressure on oil started with rumors swirling around Credit Suisse bank, which was seen as a potential victim of the fallout from Silicon Valley Bank's financial crisis. This led to some...
Despite a recent uptick in the value of the Kiwi currency, the NZD/USD pair is struggling to overcome intraday losses. The weaker-than-expected Q4 GDP figures from New Zealand have raised concerns about a potential credit rating cut for the country. The recent troubles faced by major banks in the US and Europe have also sparked fears of a return to the 2008...
Yesterday, as previously described, the EUR/USD currency pair was within an accumulation zone. After a rebound from the 1.075 resistance level, the price is now approaching a short impulse in the direction of the main trend. Additionally, the RSI indicator appears poised to drop from the overbought area. Based on this analysis, our current recommendation is still...
Yesterday, as previously described, the price of Gold experienced a pullback in the direction of the Bearish trend after reaching level 1915. Additionally, the RSI indicator shows a decline from the overbought area. As a result, our current analysis still supports a short setup as previously determined a few days ago.
Yesterday, as previously discussed, the price within a Bearish trend experienced a pullback on the dynamic resistance, coinciding with the Fibonacci level area between 50% and 61.8%. This resulted in a potential downward impulse for the price. Furthermore, it is important to note the existence of a Divergence on the Stochastic indicator, which indicates an...
Yesterday, as per our idea, the USD/CAD experienced a pullback on the dynamic trendline that coincided with the 61.8% Fibonacci level. This occurred during a bullish trend, and today, the price may continue to rise, eventually reaching the 1.38/1.385 area. Therefore, we are expecting a long continuation.
USD/JPY bounces back from a one-month low and holds onto slight gains around 133.70, as it snaps a three-day downtrend. The pair benefits from market consolidation following the recent US actions to tame fears arising from Silicon Valley Bank (SVB) and Signature Bank fallout. Additionally, the recent recovery in US Treasury bond yields after the previous day’s...
After reaching multi-week highs near 1.0750 earlier this week, the euro currency is losing momentum and pushing the EUR/USD pair back to the 1.0680/75 area. The recent moderate recovery in the greenback is contributing to the currency pair's correction, as well as concerns about the US banking sector and speculations about the Fed's upcoming decisions on interest rates.
Yesterday the gold has continued to grow over the 61.8% Fibonacci level without seeing a rebound in that area, but today the price, after reaching the 1915 area, seems ready to have a short impulse to come back inside the bearish channel . Despite hitting a fresh monthly high around $1,915 the price of gold has slightly declined on the day, primarily due to...
GBP/USD is drawing some dip-buying interest, but the lack of strong follow-through on the intraday uptick is notable. Despite mixed UK jobs data, the British Pound receives some support as it fails to push back against Bank of England (BoE) rate hike expectations. However, the pair faces resistance as the USD demand revives with rebounding US bond...
Ahead of the US CPI release, AUD/USD remains cautious with a downside bias intact. The Fed's next move for a rate hike plan is uncertain, and market forecasters are no longer expecting a significant rate hike. During the early Asian session, AUD/USD is trading flat after reaching 0.6700 in the previous session. The US Dollar Index (DXY) is soft, and the market is...