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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...
Japanese Bonds Rise Modestly on Weak Crude Oil The Japanese government bonds gained modestly on Monday on tracking weak cues emerging from crude oil futures. The yield on the benchmark 10-year bonds fell 1bp to -0.100 pct and the yield on short-term 2-year bonds also dipped 1bp to -0...
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...
Gold Just Managing to Hold $1250, 50-DMA Support After sliding for three consecutive weeks, Gold now seems to have stabilized around 50-day SMA support near $1250 region...
USD/CAD Finds Support Near 1.3100 After a brief knee-jerk to the 1.3100 handle, USD/CAD has rebounded to the current 1.3110/20 area ahead of the opening bell in the Old Continent. USD/CAD eyes on oil, Fedspeak Spot is meandering the area of recent multi-week tops above 1...
In our last article here, we discussed the potential move that USDJPY needed to make towards new highs, especially a jump over 110 by targeting more than 110.40. Also, USDJPY broke above the bearish upper-bound that we were expecting to see in order to confirm this bullish rally off the lows...
Daily Analysis of USDX for May 23, 2016 The index still trades sideways to higher levels, consolidating gains above the support at 95.22, where we expect to see a rebound to test the next resistance placed around 95.68 area...
Daily Analysis of GBP/USD for May 23, 2016 It can be seen on the H1 chart that GBP/USD has been trading in corrective mode, trying to resume rally to key levels such as the H1 chart shows. That's why we would like to see some upward moves in the nearest future, at least in the coming days...
This week we expect the revised U.S. GDP data for Q1, as well as #Fed members speeches. Today, the euro zone will release the data on business activity. Find out the key economic events of this week at the Source Link. Please note that this post was originally published on Vistabrokers.com...
EUR/JPY Rejected at 5-DMA, Drops Sharply Towards 123 The EUR/JPY cross is seen in the red ahead of the European open, with the weakness mainly attributed to broad yen strength in response to the G7 Summit held over the weekend. EUR/JPY: heading towards daily lows The EUR/JPY pair now drops -0...
