With a sparse US data calendar this week, Fed talk will likely to dominate dollar price action ahead of the June FOMC meeting (note Bullard, Williams and Harker are all due to speak today...
EUR/USD 4H Chart: Channel Down Comment: The bias towards the Euro is negative, but only in the near term. EUR/USD is expected to bounce off of the upper edge of the channel at 1.1250 and then head towards a cluster of supports between 1.1150 and 1.1115 dollars...
EUR/USD Turns Negative Near 1.1200 The single currency has lost its initial smile, now dragging EUR/USD to post session lows in the 1.1210 area. EUR/USD lower post-PMIs Spot’s recovery run out of steam around overnight peaks near 1.1240, retracing the advance to the current low-1...
EUR/GBP Turns Flat at 0.7730 Post Euro-zone PMI Data On Monday, the EUR/GBP pair built on to its Friday’s sharp recovery and touched a session peak level of 0.7754 during European session but has now erased all of its gains to currently trade at 0.7730...
Weekly Trading Outlook - The Forex Week Ahead: May 23rd – 26th Mon: EUR – EuroZone PMIs & Consumer Confidence Tue: EUR – German GDP, ZEW Survey, GBP – Public Finances, NZD – Trade Balance Wed: USD – Advance Goods, Services & Composite PMIs, Crude Oil Inventories, CAD – BOC Rate Decision...
EURUSD Pauses Decline, Rises Back Above key 1.12 Level EURUSD remained above the key 1.12 level for a second trading day after dipping below it last Thursday for the first time since late-March. The lower Bollinger Band at 1.1179 lent support and helped prices bounce. The 1...
USD/JPY Around 110 a Prime Sell Opportunity for Japanese Hedgers – Deutsche Bank Taisuke Tanaka, Strategist at Deutsche Bank, notes that as expected, the Sendai G7 meeting of finance ministers and central bank governors only put together a compromise agreement on macro-policy coordination...
Technical Analysis of GBP/CHF for May 23, 2016 Technical outlook and chart setups: The GBP/CHF pair still has room left on higher side, while it is trading at 1.4365 levels at this moment. The pair is expected to drop to 1.4280 levels before reversing higher again...
Daily Analysis of Major Pairs for May 23, 2016 EUR/USD: Compared to USD/CHF, EUR/USD moved in the opposite direction last week. The price closed below the resistance line at 1.1250, as it threatens to test the support line at 1.1200. This support line, including another support line at 1...
Fxwirepro Short Term Outlook: Gold May Test $1180 Support Over FED Hike Gold has suffered big downfall last week, making it the worst in at least two months, over hawkish statements from several FOMC policymakers and FOMC minutes that strongly indicated that June meeting is very much alive and ma...
EUR/JPY 123.00-124.00 Trading Range Holds, Drops to the Lower End Holding its 5-day trading range, the EUR/JPY pair reversed after testing 124.00 handle on Friday and has now dropped back to the vicinity of 123.00 mark...
FxWirePro: NZD/JPY Breaks Major Resistance at 74.45, Good to Long Dips NZD/JPY has broken above strong trendline resistance currently at 74.45, bias higher. Bullish Shark pattern evidenced on NZD/JPY dailies. Pair has edged higher from Potential Reversal Zone at 72.54...
EUR/USD Focus Remains on the 1.1140 area – Commerzbank Karen Jones, Head of FICC Technical Analysis at Commerzbank, argued the pair’s attention remains on the 1.1140 region. Key Quotes “EUR/USD held steady on Friday following a week of relentless downside pressure”. “Our attention is on the 1...
EUR/USD Remains Capped Below 1.1240 ahead of PMIs The EUR/USD pair is seen moving back and forth in narrow range amid a quiet session, awaiting fresh impetus from a series of services and manufacturing PMI reports to be released from the Euro area...
USD Firm in the Near Term but Medium-Term Bearish – Unicredit Research Team at Unicredit, suggests that as the market digests the hawkish FOMC shift, the USD is likely to remain firm; but the re-adjustment of expectations towards a more normal tightening cycle is not enough to revive the “diverge...
GBP/USD Testing Highs Near 1.4530 The sterling is now marginally up vs. the greenback, taking GBP/USD to the upper end of the range near 1.4530. GBP/USD attention to ‘Brexit’ The pair is extending last week’s gains above the 1...
Coming up in today’s London session will be PMI data releases from throughout Europe, followed by comments from Fed’s Bullard late in the session. As always on Mondays kick start the week with my prepared currency update below...
FxWirePro: Silver Falls Sharply Below $16.40, Faces Strong Support at $16.31 XAG/USD is currently trading around $16.38 marks. It made intraday high at $16.54 and low at $16.37 levels. Intraday bias remains slightly bearish till the time pair holds key resistance at $16.41 marks...
FxWirePro: GBP/JPY Faces Strong Support at 159, Good to Sell on Rallies Major resistance- 162.30 (21 day W MA) Major support – 157.85 (21 day MA) The pair has made a high of 161.65 on Friday and started to decline from that level. It is currently trading at 159.49...
