The GBP/USD is currently stuck between a hard place and a rock, but I think it will rise further over time. Although right now it is facing resistance due to fears over the economic impact of the latest national lockdown, the downside looks to be limited. I think the cable will be provided stronger support […]
GBP/USD likely heading to 1.40s Read More »
I wated to share some thoughts on the cable as it is in line with how I look for trade ideas and hopefully you might learn a thing or two from this article. Although I could be completely wrong about this, I have seen such setups many times to make me confident about what I
Why I think GBP/USD’s “double top” is a bear trap Read More »
There hasn’t been much to get excited over in FX over the past couple of days, but with vaccine optimism still the more dominant theme, the US dollar continues to be sold. If the trend continues, the EUR/USD is a candidate to look for long opportunities on, given that most people are bearish on it
EUR/USD short squeeze imminent? Read More »
Following the publication of another impressive US jobs report, risk assets have extended their gains with European and US indices rising sharply. In case you haven’t seen the headlines, a good 4.8 million non-farm jobs were added in June with the unemployment rate falling to 11.1% from 13.3%. What’s more, the prior month saw an
FTSE breaks out on impressive NFP beat Read More »
Following Thursday’s big falls for equities (because of concerns over economic recovery and new infections), the dollar has come back to life on haven flows. With the dollar extending its gains this late in the day on Friday, it looks set to extend its advance against the likes of the euro and pound next week.
EUR/USD in reversal as dollar comes back to life Read More »
The Cable continues to show constructive price action as the dollar continues to weaken on reduced haven flows. Similar price action has been observable on the other major pairs with the EUR/USD breaking higher and USD/CAD lower etc. Have a look at this chart of the cable: The GBP/USD has now broken it bearish trend
GBP/USD heading to +1.26? Read More »
Gold has been stuck in an ugly range for several weeks now. But more recently, the pressure has been growing for a downside breakdown as stocks surged on lockdown easing hopes and amid central bank support. Today, the metal was testing a key support level, and traders were wondering whether support will hold given the
Will gold hold THIS pivotal level? Read More »
The risk-sensitive AUD/JPY turned lower from a key resistance range in overnight trading, mirroring the price action on Wall Street where US stock indices gave up earlier gains to close at their lows Tuesday evening. The AUD/JPY has now for the second time in as many weeks failed to break thru the prior long-term support
AUD/JPY hits key resistance Read More »
Thanks to record low rates and QE, not to mention increased haven demand, gold has managed to retain most of its recent gains. And now it may have formed a key technical signal that it wants to break new 2020 highs. Take a look at this daily chart of gold: On Thursday, gold may have
GOLD creates THIS bull signal ahead of NFP Read More »
Crude oil prices jumped 5% at the Asian open then fell around 2-3% in the immediate reaction to the OPEC+’s historic decision to cut oil output by 9.7 million barrels a day, just shy of the initial proposal of 10 million bpd. Though the reaction hasn’t been great, I think crude prices will likely climb
Crude oil likely bottomed amid OPEC+ historic deal Read More »
