Today Powell committed to easy money, while GDP estimates as of Feb. 18th are at 9.5% they feel there is still need for support. There is currently $3.1 trillion sitting in reserves in depository institutions. The idea is to bring that number back down to pre-pandemic levels around $1.4 trillion. With GDP estimates and all this money ready to flood the markets I...
AU reached some resistance at 0.69800 after an aggressive run up..
I took my short position at 0.69300 and plan on looking for some support at 0.67750 which is 50% retrace from this last push up.
0.68150 is my first TP since this has been a stronger bull run and trend is friend.
All the best
AUD/USD set for another drop this week with immediate support at 0.59600..I'm currently holding short from last week, but am looking to add to my short position on a break of that level.
Australian data indicating a sharper economic slowdown
DXY showing broad strength as risk-off remains in the markets. Still a lot of uncertainty over COVID-19 as the virus...
Could the USD lose some momentum with preliminary job-loss claims coming?
Expected to see up to 2 million people claiming unemployment for March...
The FEDs last move to introduce unlimited QE and buying of corporate bonds could be showing a limited affect..
A short-squeeze could be coming - acting as a retracement for the drop that occurred from 1.1500
Technically bullish - currently overbought, AUD/USD should make a break above 0.70000 price level after some slight consolidation/ pullback.
US-China Trade developments will continue to take the spotlight for AUD pairs in 2020; With Phase 1 Deal to be signed sometime in January, (which includes Tariff reductions) AU bulls should temporarily take control..and...
Thought I would share outlook on where I think EUR/USD is headed longer term as we are heading into new year with new ECB President.
EU Growth remains subdued entering Q4 with GDP at 0.2% ( QoQ ) - Retail Sales missing their mark down by 0.6%. - as well as Industrial Production and Factory Orders in Germany continued to fall
The world economy...
RBA statement seemed "hawkish" on growth but expected persistently low rates through Q2 2020...GDP and Retail Sales confirmed continued slow growth.
USD is heading into NFP with a weak stance after a big miss on ADP employment.
Q3 GDP still outperforming other major economies at 2.1%.
NFP should have a short-term affect on markets with a small...
I'm holding EU short from last week off of 1.10700 ...with immediate resistance at 1.10300, I'm looking for the pair to accelerate its decline on a break below the 1.0990
Support levels: 1.0985 1.0950 1.0915
Resistance levels: 1.1030 1.1065 1.1100
*The GfK Consumer Confidence posted better than expected yet was unable to attract buyers - amidst US-Sino...
Expecting that the AUDUSD pairs recovery from multi-year lows was corrective and could be complete as price stalled well in bearish territory.
Looking for a break below 0.6775 for continued decline.
Support Levels / Targets
0.6730 -- 0.6680
*RBA's Governor Lowe testifies that Aussie’s depreciation bodes well for the economy, but also reiterated that further...
AU remained neutral ahead of RBA decision - closing below .6935 resistance -- A retrace to .69650 could be in the picture before cut talk; My view remains to short and should remain bearish under .70000 price point. AiG Manufacturing news out soon will help set the tone heading into the week...
Support Levels: .68950, .68650, .68250
Resistance Levels: .69350,...
After a batch of disappointing data out of Japan, economic slowdown continues.
Short outlook holds for me unless we see a break above 109.90
Support levels: 109.00 108.65 108.30
Resistance levels: 109.65 109.90 110.20
With rising geopolitical tensions between "Trade Wars" and tension between Iran and US, this should be enough to support Gold Prices...
Seeming to be indecisive after reaching $1,3000 mark dropping to current $1286.825 - this could be in part of upbeat comments with US and China - and with Greenback holding a strong position it seems like Gold isn't ready for a...
AUD/USD has been under selling pressure - and with spot price of gold falling and AIG Performance of Services Index for April coming up in the Asian session.
*still only learning, would appreciate any input - thanks and good luck!
USD/JPY is struggling to hold above 200 DMA and with mixed Japanese Data the sentiment seems to be weighing on the pair. I expect to see a short week ahead reaching support around 110.80
Looking at Monthly charts, price still has room to advance upward; so I anticipate it to return up near December Highs ( 113.20-113.80 )
*A break below 110.80 would open doors...