EUR/USD – Breakdown for the week ahead
Essential Insight EUR/USD has broken out of a significant consolidation zone between 1.07950 and 1.09830, to the upside. EU unravels a EUR 2.4 trillion 7-year recovery plan. Dollar Index takes a tumble below key 98.85 support level. EUR/USD bullish trade idea. Technical EUR/USD has broken out of a consolidation zone between 1.07950 and 1.09850 (a […]
EUR/USD – Short Trade Idea
Technical EUR/USD is currently testing a key monthly resistance level at 1.09900. Price has previously rejected 3 times from this zone with each rejection seeing a bearish rally to at least 1.09000. The 1-hour timeframe shows price moving in a rising channel structure, with prices currently breaking below. A bearish candle close below this channel […]
GBP/USD – Short Trade Idea. Price Action Defying Fundamentals
Essential Insights GBP/USD rallied sharply towards the upside on USD weakness Fundamentals still weight heavy on prices Market may be overly optimistic on reopening of economies Technical Prices rallied over 100 pips to 1.23600 before retreating. This move comes as the dollar index fell sharply from around 99.72 to 99.00 on improved risk appetite. As […]
USD/CAD – Short Term Bullish But Fall Imminent ?
Essential Insights Crude Oil gains but Cad left behind Canada’s terms of trade have improved USD gains proving a difficult barrier for lower exchange rates Technical USD/CAD has rejected from a a key daily support zone at around 1.38760. Previously , rejections from this area have seen prices push to around 1.40000. The 8-day EMA […]
GBP/USD – 21 May 2020 Update
Essential Insights GBP has remained relatively unchanged after briefly crossing below the 1.22 level Bearish pressure remains despite better than expected UK data Technical Price action over the last few days suggests that the pound is set to remain under the 1.23 mark and is likely to extend its losses as prices fail to push […]
EUR/USD – A level to must watch
Essential Insights Increased Risk Appetite US-China Tensions Increasing Euro Underpinned By Stronger Dollar Technical EUR/USD is at a major technical decision zone, at around 1.09870. Prior price action shows a fall below this level, tends to see this pair moving down to around 1.08150. Although prices penetrated through the 1.09870 zone, they still closed back […]
GBP/USD – Long Trade Idea
Technical GBP/USD is currently resting on a critical daily support at around 1.22380. Prices are currently rejecting from this area, potentially signifying a bullishing push to come. However, even though prices are sustaining themselves above the weekly support, it is struggling to break above the 200-day EMA at 1.22558. Price is now testing this EMA […]
NZD/JPY – Long Trade Idea
Recent price action shows a small falling wedge forming on the lower timeframe. A break above this wedge could see the upper trendline resistance of the channel being met shortly after.
USDJPY – 15 May 2020 Update
Essential Insights USD/JPY is experiencing difficulties breaking and sustaining price above the 107 level. US initial jobless claims declined from 3176k to 2981k, but still disappoint. US Retail Sales are estimated to have dropped 10% in April. Technical USD/JPY is struggling to maintain prices above the 107 level. Upon retesting the 107 level, following the […]
USD/JPY Update 13 May 2020
– Falling Yield Capping Upside Gains.
– USD/JPY struggling to hold 107 handles.
– Mixed themes impacting the greenback.
EUR/USD – Euro existence under threat?
EUR/USD is currently trading in a channel range. Reduced bets on Euro advancement. European Leaders are struggling to form unity.