Euro Rises Against USD Amidst the COVID-19 Virus

Is USD/JPY Poised For a September Breakout?

Traders Pause as Non-Farm Payroll Approaches

October 5th

GBP/USD - Is Cable Ready for a Bounce?

October 5th

US Dollar Strength Takes a Break Ahead of…

October 5th

AUD/USD Sitting Waiting, Bullish Reversal

October 5th

GBP/USD – Cable Set to Consolidate Ahead of Non-Farm Payroll

Hourly Chart – GBPUSD 3/10/17 14:00 EST SupportResistanceS1: $1.3352R1: $1.3454S2: $1.3340R2: $1.3470S3: $1.3220R3: $1.3488 Essential Insights An increase in the ISM Manufacturing PMI in the US last night added selling pressure to Cable, which is fast approaching the key support zone at 1.3220.  With US news dominating the latter part…
October 3rd

AUD/USD The Aussie Continues to Slide in October

Daily Chart – AUDUSD 3/10/2017 06:00 am SupportResistanceS1: 0.7800R1: 0.8000S2: 0.7730R2: 0.8011S3: 0.7700R3: 0.8060 Essential Insights The Aussie briefly dipped below 0.78 as renewed expectations of a December Fed hike and the prospect of US tax cuts saw the AUD continue to fall.  Technicals The AUD has continued to fall…
October 3rd

USD/JPY – US Dollar Strength Continues Ahead of Key Data

4-Hour Chart – USDJPY 3/10/2017 14:00 EST SupportResistanceS1: 109.10R1: 110.25S2: 108.75R2: 111.20S3: 108.20R3: 114.00 Essential Insights The USDJPY has started the week in strong fashion, rising from lows of 112.44 on Monday to as high as 1.1300 early in Tuesday’s trading session.  We expect the US Dollar strength to continue…
October 3rd

EUR/USD – Further Weakness Sees The Euro Break Key Support

Daily Chart – EURUSD 3/10/2017 14:00 EST SupportResistanceS1: 1.1875R1: 1.2000S2: 1.1750 R2: 1.2075S3: 1.1460R3: 1.2250 Essential Insights The key support zone at 1.1750 failed to contain a fall in the EURUSD early in the week, but with a light start on the fundamental news front, traders may need to wait until…
October 3rd

EURO Strength Diminishes on Draghi Speech

Daily Chart – EURUSD 28/9/2017 14:00 EST SupportResistanceS1: 1.1875R1: 1.2000S2: 1.1750 R2: 1.2075S3: 1.1460R3: 1.2250 Essential Insights The EURUSD has continued its move lower in the last 24 hours, making a new four-week low of 1.1715 last night.  With no major European news due for the remainder of the week, we…
September 28th

AUD/USD What Goes Up Must Come Down

Daily Chart – AUDUSD 28/9/2017 7:45am SupportResistanceS1: 0.7947R1: 0.8060S2: 0.7870R2: 0.8102S3: 0.7822R3: 0.8124 Essential Insights Donald Trump announced his “once-in-a-generation opportunity” tax reform plans overnight, however, FX markets paid little attention. The Aussie was already trading around the mid 78’s having fallen from the early ’80s of last week. The…
September 28th

GBP/USD Recent Upside Momentum Fades

Hourly Chart – GBPUSD 26/9/17 05:05 GMT SupportResistanceS1: $1.3352R1: $1.3454S2: $1.3340R2: $1.3470S3: $1.3290R3: $1.3488 Essential Insights Last week’s upside momentum in Sterling has faded away as Cable moved lower. The Focus had moved across the Atlantic this week with Janet Yellen’s most recent speech stoking December rate rises hope for…
September 28th

USD/JPY – US Dollar Makes a New 10-Week High

Daily Chart – USDJPY 28/9/2017 14:00 EST SupportResistanceS1: 109.10R1: 110.25S2: 108.75R2: 111.20S3: 108.20R3: 114.00 Essential Insights The US Dollar strength regained momentum yesterday as the USDJPY made a new 10 week high.  The last week of the trading month may see this pair test the resistance level at 114.00, but…
September 28th

Cable Traded Sideways Despite Moody’s Downgrade of the UK

Daily Chart – GBPUSD 26/9/17 05:05 GMT SupportResistanceS1: $1.3470R1: $1.3566S2: $1.3354R2: $1.3594S3: $1.3400R3: $1.3620 Essential Insights Cable was largely range-bound either side of the weekend, following Theresa May’s Brexit speech in Florence. Ratings agency Moodys cut the UK’s credit rating from AAA to Aa2 late that afternoon. However, this was…
September 26th

German Election Unsettles the EURO

Daily Chart – EURUSD 26/9/2017 14:00 EST SupportResistanceS1: 1.1875R1: 1.2000S2: 1.1750 R2: 1.2075S3: 1.1460R3: 1.2250 Essential Insights The EURO opened the week with an opening gap of nearly half a cent in reaction to the German election that saw Angela Merkel elected for a fourth term as Germany’s Chancellor.  The overhead…
September 26th

US Dollar Strength Pauses on Overseas Tensions

Daily Chart – USDJPY 26/9/2017 14:00 EST SupportResistanceS1: 109.10R1: 110.25S2: 108.75R2: 111.20S3: 108.20R3: 114.00 Essential Insights As the close correlation of the US Dollar and the US stock market continues, heightened tensions on the Korean Peninsula have paused last week’s US Dollar momentum.  The rhetoric between President Trump and North…
September 26th

Pairs in Focus: The Aussie Got Lowe

Daily Chart – AUDUSD 26/9/2017 8:54am SupportResistanceS1: 0.7947R1: 0.8060S2: 0.7870R2: 0.8102S3: 0.7822R3: 0.8124 Essential Insights Despite economic data misses, a still live December Fed meeting and falling iron ore prices the Aussie dollar was still hovering above the 80 cent level. It took a speech by RBA governor Philip Lowe…
September 26th