The dollar has come off the boil after rallying during the New York afternoon when President Trump abruptly called off talks with the Democrats on further fiscal aid until after the election. This catalysed a bout of risk-off positioning, which featured dollar and yen buying in currency markets. Tru
After peaking on day 17 the dollar printed its lowest point on Wednesday, day 24. That places it in its timing band for a daily cycle low. The dollar's decline retraced almost to the 50 % fib level before printing a bullish reversal off of support from the 50 day MA. Now a swing low and a close a
Daily Pivots: (S1) 104.96; (P) 105.32; (R1) 105.69; USD/JPY is staying in range below 105.80 and intraday bias remains neutral first. On the upside, break of 105.80 will resume the rebound from 104.00 to 106.94 resistance next. on the downside, break of 104.92 will suggest completion of rebound from
Dollar and Yen recover some ground in Asian session but it’s unsure if this week’s pull back is completed yet. There were little reactions to the President debate of Donald Trump and Joe Biden. Asian markets are mixed despite some solid data out of China. DOW future is currently down around -200 pts
Daily Pivots: (S1) 104.99; (P) 105.25; (R1) 105.61; Intraday bias in USD/JPY remains on the upside at this point. Rebound from 104.00 would target 55 day EMA (now at 106.02). Sustained break there will raise the chance of bullish reversal and target 106.94 resistance for confirmation. On the downsid
Analysts at Morgan Stanley offered a bearish outlook on iron-ore prices over the next 12 months, in its latest client note. Key quotes “Shipments from Vale increasing and demand from China (steel output) easing.” “China demand eases during the country's winter with slowing construction.” “Some suppo
Photo: iStock Iqbal V. Gandham, the former UK CEO of multi-asset brokerage eToro, has joined digital currency platform CoinBurp as its non-executive advisor, the company announced on Monday. In his new role, Gandham will be responsible for supervising the company’s growth strategy. Additionally, h
#AUD/JPY# AUDJPY is testing our 1st suppor at 75.26 where the horizontal swing low is. Price could touch 1st support and bounce from there. Take caution that Ichimoku signals that further downside could come.
EUR/USD has charted a bearish reversal pattern on the daily chart. A close below 1.1770 would confirm the trend change. EUR/USD is trading near the head-and-shoulders (H&S) neckline support of 1.1770 at press time. A close below the support line would confirm H&S breakdown or a bullish-t
Daily Pivots: (S1) 1.2774; (P) 1.2847; (R1) 1.2915; Intraday bias in GBP/USD remains neutral for brief consolidations. Further decline remains in favor with 1.3035 minor resistance intact. Decisive break of 38.2% retracement of 1.1409 to 1.3482 at 1.2690 will argue that the rise from 1.1409 might be
Daily Pivots: (S1) 135.36; (P) 135.98; (R1) 136.40; Intraday bias in GBP/JPY remains neutral for the moment. Further fall will remain mildly in favor as long as 138.38 minor resistance holds. Sustained break of 38.2% retracement of 123.94 to 142.71 at 135.53 will suggest that whole rebound from 123.
GBP/USD bears catch a breather at six-week low, dropped nearly 200-pips on Tuesday. An ascending trend line from March 20, June month’s high add to the support. Bulls need a clear break of late-August low to attempt recovery moves. GBP/USD retraces from the multi-day low of 1.2950 to 1.2962 during