Daily Analysis of GBP/USD for May 05, 2016 The H1 chart structure is calling for a short-term bearish consolidation below the 200 SMA on the H1 chart, after the pair found resistance around the 1.4549 level...
Oil Climbs Back Above $45.00 Level WTI crude oil prices got a boost on Thursday from a raging wildfire in Alberta, lifting the commodity back above $45.00 handle. of late, the black gold had been witnessing some selling pressure on renewed fears of oversupply...
FxWirePro: AUD/CAD Extends Recovery from 6-Month Lows at 0.9453, Edges Above 61.8% Fib, Good to Buy Dips AUD/CAD is extending recovery from 6-month lows at 0.9453 hit post RBA surprise cut. The pair has cleared 61.8% Fib retrace of the Sept-Dec rally at 0.9539 and is currently trading at 0...
UK Service PMI to Highlight Negative Impact of Brexit Uncertainty - MUFG Lee Hardman, Currency Analyst at MUFG, notes that the Cable has been one of the hardest hit crosses by the recent rebound in the US dollar falling sharply after an intra-day high early this week at 1.4770...
NZD/USD Recovers to Move Back Above 0.6900 Handle Extending its bounce from Wednesday's low of 0.6860, the NZD/USD pair rose above 0.6900 on Thursday and is currently trading at the day's peak of 0.6910. On Wednesday, the pair faded its spike to 0...
UK Services PMI Preview: What to Expect of GBP/USD? The GBP/USD pair deflates from daily highs as we head towards the European open, shrugging-off solid bounce staged by the oil prices. The major pares gains and trades around 1...
USD/RUB: Downside Accelerated Below 64.34 – BBH Analysts at BBH suggested the pair could met further downside pressure following a break below 64.34. Key Quotes “USD/RUB retraced the entire November-January rise before this week’s correction”. “A break below the November 20 low near 64...
USD/CHF Better Bid Around 0.9580, Session Highs The USD/CHF pair is seen defending the bids amid broad based USD softness, as a lack of fresh fundamental drivers amid holiday-quiet markets, keep the major largely muted. USD/CHF fails near 0...
EUR/USD Intermarket: US Yields Collapse Amid Supply Environment Based on intermarket analysis, which helps explain why certain moves occur but most importantly, what are the current main drivers for a certain asset class, the vigorous rise in the EUR/USD exchange rate since April 24th, which has...
USD/CAD Still Looks to Oil Dynamics – Rabobank Strategist at Rabobank Christian Lawrence has assessed the prospects of the pair and crude oil...
Gold Holding Above $1280, Upside Seems Capped Gold managed to recover from Wednesday's low near $1272 support on disappointing US private sector employment report but faded its spike to $1290...
GBPCAD: Extending the Recovery - Scotiabank Research Team at Scotiabank, suggests that the GBPCAD is extending the May recovery though the 1.85 area, taking out trend resistance off the 2.09 high and 40-day MA at 1.8531 in the process. Key Quotes “The force appears strong in this one now...
Follow EUR/GBP Higher, USD/JPY Stretched – Deutsche Bank Oliver Harvey, Macro strategist at Deutsche Bank, suggests that the EUR/GBP is their top scoring currency pair in G10 and is highly trending to the topside and is not at all stretched on both RSI and risk reversal metrics, suggesting the mo...
USD/CAD: Risks are Clearly Tilted Higher for a Test of 1.2988 - Scotiabank Research Team at Scotiabank, suggests that the USD/CAD’s rebound developed strongly and they are shifting their bias materially as a consequence...
EUR/USD Unchanged Below 1.15, ECB on Sight EUR/USD is now attempting a consolidative pattern below the 1.1500 handle amidst thin trade conditions. EUR/USD focus on US data, ECB The pair is barely moving, as the usual cautiousness pre-Payrolls seems to have taken over sentiment already...
FxWirePro: GBP/NZD Breaks Major Trendline Support and slips Below 1h 50-SMA, Good to Sell Rallies GBP/NZD rejected at day's highs by 2.1102, and is currently trading at 2.1016 levels. The pair has broken major trend line support at 2.1047 on the hourly charts and has slipped below the 1H 50-SMA...
Australian Bonds Continue to Rally After RBA Rate Cut, Despite Firm Economic Data The Australian government bonds continued to rise Thursday for three consecutive days as investors pour into safe-haven assets after Reserve Bank of Australia lowered its interest rate by 25 bps to historic low of 1...
FxWirePro: Time to Invite Shorts in Bearish Hedging Strategies for EUR/JPY Long Term Risks Glimpse on Technicals: The pair has been bouncing from last 3-4 days after testing supports at 121.680...
Canada's Weak Trade in March Suggests Q1 GDP Growth Likely to be Weaker Than Anticipated Canada’s trade deficit broadened from downwardly revised $2.5 billion in February to $3.4 billion in March. Exports in March fell 4.8%, surpassing the decline in imports of 2.4%. Export volumes declined 2...
