RichDadph-FX

RichDadph-FX

The EUR/USD currency pair is testing the critical 1.0800 region, with potential further losses expected below the 200-day SMA. Preliminary PMI data shows manufacturing resilience but weakness in services in key Eurozone countries. A soft technical outlook and extended losses near the 200-day moving average underline the pair's vulnerability. Key support and...

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The AUD/USD pair faces downward pressure amid a resilient US Dollar, hitting 10-week highs. While US investors anticipate potential tightening of the Federal Reserve's interest rate policy, Australian inflation softening supports an unchanged rate by the RBA. Technical indicators point to mixed sentiment with bearish bias. Market eyes are on the US PMI data for...

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The EUR/JPY currency pair faces short-term bearish pressure, declining to lows near 157.00. Key support levels emerge at 156.00, 152.50, and 151.40, marked by various SMAs. Despite the immediate downturn, the longer-term trend remains bullish, supported by the 200-day SMA at 147.51. The situation provides both short-term and long-term trading opportunities, all...

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Gold prices are trading cautiously around $1,895, affected by factors like US yields, China's economic woes, and anticipation of the Federal Reserve's actions. Investors eye Jerome Powell's upcoming speech for insights into the US economy and the Fed's monetary policy. A disappointing rate cut by the People's Bank of China adds to the complexity. Markets are also...

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The EUR/USD market analysis reveals a complex landscape in September. Concerns over the Euro's weakness are raised by prominent institutions, while key support levels hold. The contrast between the US and the Eurozone's economic situations and concerns over inflation drive market sentiment. Scotiabank's analysis indicates potential gains above 1.10, but the market...

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The NZD/USD dropped sharply below 0.6100, impacted by China's sluggish economic recovery and the US Dollar's strength. Disappointing Chinese trade data and a narrowed US trade deficit contributed to the decline. Mixed signals from US central bank speakers added complexity. Technically, the NZD/USD is approaching key support levels. Traders now await critical...

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The USD/CAD pair witnessed a surge amid a resilient US Dollar and dropping oil prices. The Canadian Dollar was impacted by weak employment figures and the decline in oil prices, a crucial export product. Meanwhile, the US is bracing for persistent inflation, with headline and core CPI remaining steady. The financial landscape is further complicated by potential...

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The USD/JPY currency pair is poised for a rally, fueled by anticipation of the US CPI data and the USD's strength. Market sentiment leans bearish with the expected S&P500 opening and recent global oil price trends may force the Fed's hand in rate hikes. Meanwhile, the BoJ shows optimism towards inflation targets, and Philadelphia Fed President advocates patience...

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The GBP/JPY pair remains bullish in the short-term perspective as shown by the daily chart. The Relative Strength Index (RSI) has surged past the midpoint, indicating a bullish tilt, and the Moving Average Convergence Divergence (MACD) records subtle red bars, signaling an ebbing selling pressure. The pair is strongly positioned above the 100-day and 200-day SMAs,...

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The GBP/USD pair has experienced an upward bias, reaching a yearly high of 1.3160 and then pulling back to 1.2815, finding support at the 61.80% Fibonacci level at 1.2851. However, the price action formed a spinning-top candle followed by a bearish candle, indicating potential weakness. The immediate resistance level is around 1.2906, marked by the recent high...

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Expert analysts from Commerzbank, Scotiabank, and ING share insights on the EUR/USD pair. As the market anticipates an ECB rate hike, caution is advised. The Euro's trajectory might pause, making it crucial to stay vigilant. Scotiabank suggests a potential bearish trend, while ING warns of room for correction in the overvalued EUR/USD. Economic concerns in the...

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The USD/CAD pair has been exhibiting a bearish trend, and technical momentum remains unfavorably oriented for the USD. The recent attempts at a recovery from around 1.3100 were met with resistance near the 20-period daily Exponential Moving Average (EMA) at 1.3230. This suggests selling pressure and a potential continuation of the downside move. Fundamentally,...

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GBP/USD analysis from Société Générale and Scotiabank provides valuable insights for traders. While Société Générale highlights key support levels and the potential for an extended uptrend, Scotiabank emphasizes the GBP's rebound and resistance levels. By combining these perspectives and taking actionable steps, traders can make informed decisions and navigate the...

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The USD/CAD currency pair encountered strong resistance around the 1.3300 level during the New York session. This resistance was influenced by factors such as a cautious market sentiment, negative expectations for second-quarter corporate earnings, and a decline in the US Dollar Index (DXY) despite the anticipation of interest rate hikes. Additionally, the...

RichDadph-FX

In this market analysis, we delve into the recent price movements of the EUR/USD currency pair. With the euro and the US dollar engaged in a tug-of-war, traders are closely monitoring key levels to identify potential opportunities. Our analysis will provide insights into the current state of the pair and offer a decision signal to guide your trading...

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In light of recent market developments, including the decline in the US dollar and the positive response to the US Core PCE data, the short-term outlook for gold appears promising. The XAU/USD currency pair has rebounded, breaking a downtrend line and reaching its highest level in three days. Considering the analysis provided, it is suggested that the current...

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The USD/JPY currency pair has surged to a new year-to-date high of 141.91, driven by safe-haven flows and an increase in US Treasury bond yields. However, the pair's failure to surpass the 142.00 level could trigger a potential sell-off. The presence of a rising wedge pattern on the charts adds uncertainty to the near-term outlook, while Japanese authorities'...

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The oil price opened the week lower due to concerns about global trade being impacted by geopolitical tensions at the G7 summit. China's ban on US-manufactured microchips and the antagonism between the US and China caused worries about global growth. However, the oil price recovered after the US Dollar weakened on continued debt-ceiling uncertainty. The...