Forex News

AUD/NZD Technical Analysis: Break of 1.0365/70 can validate recent pullback after Aussie employment data

AUD/NZD is on bids around 1.0340 during early Asian sessions on Thursday. The quote recently bounced from intra-day low of 1.0297 as eight-year low (4.9%) Australian unemployment rate grabbed more market attention than soft employment change figure of 4.6K versus 14.0K expected and 39.1K prior. While oversold levels of 14-bar relative strength index (RSI) and …

GBP/USD: Sharp intraday slump to 1-week low finds some support near mid-1.3100s

   •  May’s confirmation for a short delay until June 30 prompts some aggressive selling.    •  Technical selling below 1.3200 handle/200-hour SMA further aggravates the momentum. The bearish pressure surrounding the British Pound picked up the pace in the last hour, with the GBP/USD pair tumbling to mid-1.3100s or one-week lows. The market reaction …

AUD/USD drops 40 pips as trade optimism fades, risk sentiment sours

The Aussie dollar is losing ground in Asia, currently down 40 pips from the high of 0.7091 in early Asia.  Risk sentiment has soured on reports that China China may walk back concessions.  RBA’s Bullock said the central bank is encouraging lenders not to tighten too much.   AUD/USD is currently trading at 0.7061 (50% …

GBP/USD spikes beyond 1.3300 mark and retreats

   •  Upbeat UK earnings data/fall in unemployment rate provided a minor lift earlier.    •  Incoming Brexit headlines further boost sentiment surrounding the British Pound. The GBP/USD pair remained well bid through the mid-European session and spiked beyond the 1.3300 handle in the last hour, albeit quickly retreated few pips thereafter. The pair regained …

AUD/JPY Technical Analysis: Rising wedge breakdown on 4H

AUD/JPY’s previous 4-hour candle closed at 78.99, confirming a rising wedge breakdown – a bearish reversal pattern.  So, the pair may fall back to 78.83 (4H 200-candle MA). Validating that bearish case is the negative crossover of the 5- and 10-candle moving averages (MA).  On the higher side, a break above 78.74 would confirm a …

EUR/USD recedes from tops near 1.1360

The pair’s recovery falters around the 1.1360 region. The greenback remains on the defensive near 96.40. ZEW survey due tomorrow ahead of EU Summit on Thursday. The leg lower in the greenback is allowing EUR/USD to extend the recovery from post-ECB lows near 1.1180 to today’s tops around 1.1360. EUR/USD looks to data, risk trends, …

EUR/JPY Technical Analysis: Mildly bid, but range breakdown likely

EUR/JPY is currently trading at 126.28, representing marginal gains on the day, having created a doji candle on Friday, signaling indecision in the market place.  Notably, doji has appeared after a four-day winning streak. So, that candle largely represents bullish indecision. The cross, therefore, could see a downside break of the sideways channel established on …

EUR/USD Forecast: eyes on the Fed and, once again, Brexit

EUR gained as a result of Pound upsurge, still lacking self-strength. EUR/USD dominated by bulls ahead of the Federal Reserve meeting  It was a tough week for the greenback, which remained out of the market’s favor after the mixed employment report released in the previous week, and weaker-than-expected US data released throughout the week. American …

EUR/USD Technical Analysis: Euro trading above 1.1300 figure in the New York session

EUR/USD daily chart EUR/USD is trading in a bear trend below its main simple moving averages (SMAs). EUR/USD 4-hour chart EUR/USD is trading between the 100 and the 200 SMAs suggesting a consolidation above 1.1300 in the medium-term. EUR/USD 30-minute chart EUR/USD is trading above its main SMAs suggesting bullish momentum in the short-term. A …

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