Forex News

GBP/USD rebounds after intraday crash; remains capped below 1.3100 mark ahead of Brexit vote

The GBP/USD pair trimmed a part of the mid-European session slump, albeit remained capped below the 1.3100 handle amid a flurry of incoming Brexit headlines. The pair lost nearly 200-pips and tumbled to the key 1.30 psychological mark in what could be termed as a knee-jerk reaction to the UK Attorney General Geoffrey Cox’s thumbs …

USD/JPY crosses 200-day MA hurdle on risk reset in equities and upbeat US data

USD/JPY is now trading above the 200-day moving average of 111.32, having hit a low of 110.88 yesterday.  Risk reset in equities is likely pushing JPY lower. At press time, the S&P 500 futures and major Asian indices are flashing green.  USD/JPY scaled the 200-day moving average (MA) hurdle of 111.32 soon before press time …

GBP/USD Technical Analysis: Cable at daily highs challenging 1.3070 resistance

GBP/USD daily chart GBP/USD is bouncing from its main simple moving averages (SMAs) suggesting a bullish bias. GBP/USD 4-hour chart GBP/USD is testing the 200 SMA while the market is below the 50 and 100 SMA. GBP/USD 30-minute chart GBP/USD is trading between the 100 and 200 SMA suggesting a consolidation phase in the short-term. The …

EUR/GBP: Key focus on Brexit; Waiting for UK Monday press volatility

EUR/GBP is higher at the start of the week following concerns over Brexit.  EUR/GBP is currently trading at 0.8655, up from a high of 0.8643 and off the 0.8662 highs.  EUR/GBP is set for a rollercoaster week ahead of Brexit headlines. However, we also have German data on the cards which will be a major …

EUR/USD Forecast: battle is central banks slowing economic growth

ECB’s monetary policy adjustments smashed the common currency. EUR/USD to consolidate next week, bounce sharply afterward as the market is not ready to test 1.1000. Tough week for the common currency, following a more than dovish surprise for the ECB. The central bank was expected to downgrade inflation and growth forecasts and to maintain rates …

EUR/USD refreshes session tops and retreats on mixed US employment details

   •  US economy added only 20K new jobs in February, down from upwardly revised 311K previous.    •  Unemployment rate drops to 3.8% and average hourly earnings also better market expectations.    •  Upbeat US housing market data further extend some support to the USD and capped further gains. The EUR/USD pair built on …

USD/JPY under pressure as treasury yields drop, ECB’s dovish turn failed to lift risk assets

USD/JPY is trading in the red at press time, having breached the double top neckline support in the North American session.  Treasury yields fell yesterday on ECB’s dovish turn.  ECB pushed out rate hike to 2020, confirming market fears that the bloc is headed for a deeper economic slowdown. The risk assets, therefore, could remain …

EUR/USD eyes 2019 lows on dovish ECB, Draghi

The pair drops to fresh 3-week lows near 1.1250. ECB revised lower its prospects for growth and inflation. Draghi noted risks to economic outlook are tilted to the downside. EUR/USD is losing further ground today, testing the mid-1.1200s following the dovish tone from the ECB and Draghi’s press conference. EUR/USD offered on TLTROs, revised projections …

AUD/NZD Technical Analysis: Eyes on 1.0310 and 1.0220

The pair drifts lower, extending the 2018 decline (bar the flash crash lows to 1.0040) that has exceeded 2018 lows up at 1.0488.  However, the lack of momentum to the downside finds the price drifting along the base of the cloud at 1.0365 (a low of 1.0359 was made overnight). A break here opens risk towards …

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