Forex News

CADJPY bounced off from support with positive momentum

Medium-term technical outlook on CAD/JPY click to enlarge charts Key Levels (1 to 3 weeks) Intermediate support: 81.90 Pivot (key support): 81.40 Resistances: 83.45, 84.80 & 85.20 Next supports: 80.10 & 78.80/20 Directional Bias (1 to 3 weeks) Bullish bias in any dips above 81.40 key medium-term pivotal support for another round of potential upleg …

Market Brief: Pound, Bitcoin Rebound

Market update: At 13:30 GMT, GBP and USD were the strongest while EUR and NZD were among the weakest in major currencies. Stocks were higher and gold was lower. View our guide on how to interpret the FX Dashboard GBP rose as UK Prime Minister Boris Johnson’s Conservative Party remained comfortably ahead of the Labour Party …

Deal or No Deal

There have been a few headlines out today suggesting that a China-US trade deal for Phase One is just about done.  The key sticking point right now seems to be the which tariffs should be lifted before the deal is signed.  One would have to think that some type of deal will get done, even …

USD/CAD chipping away at resistance amid BOC’s policy U-turn

Last week’s Canadian data releases beat expectations, yet the North American dollar finished the week lower against her southern neighbour. Manufacturing and retail sales both fell less than expected, while CPI was in line. The market was focused more on speeches by Bank of Canada’s Governor Stephen Poloz and Senior Deputy Governor Carolyn Wilkins. Mr …

Market Brief: Indices Burst Toward Record Highs, Boosted by Trade Rhetoric

View our guide on how to interpret the FX Dashboard. China’s Global Times is reporting that a “broad consensus” has been reached around a Phase One trade deal between the US and China, though the precise scale of the tariffs to be removed are not clear. Separately, China issued new laws on intellectual property in a …

USD/CHF Hesitates Below Parity (A Level Undefeated Since May)

USD/CHF is approaching parity, a level which is clearly on the radar for market participants. Despite several failed attempts, USD/CHF has not closed above parity since May 2019. We could quibble over the fact that it opened above 1.0000 by a whisker on the 19th of June, yet the fact it marked the beginning of …

Market Brief: Muted Risk-On After ‘Rinse And Repeat Trade’ Headlines

View our guide on how to interpret the FX Dashboard FX Brief: There was a small burst of risk-on following reports that US and China had agreed to continue with phase one talks. Given this doesn’t actually cover any new ground at all (as we’ve been here already…) then its hard to envisage a spill-over effect …

Gold Needs to Reverse Soon if It is Going Higher

Gold and the stock market are considered traditionally to be inversely related. When prices of stocks go down, the price of gold moves higher, and vice versa.  That is indeed the case today as we can see on the correlation coefficient oscillator at the bottom of the chart on a daily timeframe.  The correlation coefficient …

Daily Forex Technical Strategy (Mon 25 Nov)

EUR/USD – Broke below 1.1050, down move validated click to enlarge chart The pair has staged a breakdown below the lower limit of the 1.1050 neutrality zone on last Fri, 22 Nov as per highlighted in our previous report (click here for recap). Flip to a bearish bias in any bounces below 1.1050 key short-term …

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