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 »
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 »
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[Video] USD/JPY printing bearish price action Read More »
Despite ongoing risk off tone in the equity and commodity markets, the USD/JPY has been rallying sharply amid widespread dollar strength. But rates have now arrived at a key technical juncture. What happens next is important: a break above the resistance zone could pave the way for further sharp gains, while a rejection here could
USD/JPY arrives at key juncture Read More »
Following ECB’s decision to announce a massive, open-ended, €750 billion asset purchase programme in an effort to mitigate the economic impact of the virus outbreak, the EUR/USD has nosedived. Already under pressure because of a rallying US dollar, this package was the final nail in the coffin for the single currency. If it stays below
EUR/USD dumped on ECB stimulus, Coronavirus Read More »
I was asked by a friend about my views of the EUR/USD. So wanted to share what I said to him here. I will keep it very brief, but first have a look at this EUR/USD chart showing price action on H1, Daily and Monthly time frames: Monthly is currently displaying a doji candle. The
The EUR/GBP has risen sharply over the past two and half weeks. Ongoing Brexit concerns have weighed on sterling while the euro has been supported by concerns the ECB will not loosen its policy like other central banks have this week in response to the outbreak of the coronavirus. However, with the virus spreading across
EUR/GBP hits resistance Read More »
Did the Fed just cut interest rates because of the economic impact of the coronavirus or because of the recent slump in equity prices? Whatever the reason, supporters of Trump will claim that his renewed criticism of the Fed has done the trick. But make no mistake about it, the President will continue to call
Fed surprises but is the 50 bp cut too early? Read More »
The EUR/USD has been creeping higher over the past few days, after a big drop in early Feb. But this appears to be a dead cat bounce. The hourly chart shows price failing to hold above old highs, where it has just created a rather large bearish engulfing candle. If I am reading this correctly,
EUR/USD about to dive? Read More »
I was asked why I closed the EUR/GBP trade just ahead of target and so I thought let me post a quick article with the reasons, so you could understand my thinking. Below is the hourly chart of the EUR/GBP I posted a few days ago on Telegram as a trade signal in the discretionary
EUR/GBP short trade rationale Read More »
