Daily Pivots: (S1) 1.3049; (P) 1.3077; (R1) 1.3103; More… No change in GBP/USD’s outlook as consolidation from 1.2999 is still extending. Intraday bias remains neutral and further decline is mildly in favor with 1.3297 resistance Read more…
Daily Pivots: (S1) 1.0850; (P) 1.0895 (R1) 1.0924; More… Intraday bias in EUR/USD stays on the downside for retesting 1.0805 low first. Firm break there will resume larger down trend from 1.2248. Next target is Read more…
Overall, the markets are rather steady so far in the last trading day of the week. Major Asian indexes are treading water. That followed a late rebound in US markets overnight. Euro weakens mildly and Read more…
WTI crude oil continued to gyrate lower this week. EU has yet confirmed banning Russian coal and even if they do, it’s not expected to take effect until August. Oil embargo is not in sight. Read more…
Atlanta Fed President Raphael Bostic said yesterday, “it’s time that we get off of our emergency stance — I think it’s really appropriate that we move our policy closer to a neutral position — but Read more…
Key insights from the week that was. This week witnessed a significant change in the RBA’s policy outlook. Rate expectations also drove market outcomes offshore. Beginning with the RBA, the April decision statement saw the Read more…
Key Highlights USD/JPY started a fresh increase from the 121.20 support zone. A key bullish trend line is forming with support near 123.75 on the 4-hours chart. EUR/USD started a consolidation phase near the 1.0900 Read more…
It’s been a decent week for the dollar, but there is the potential for mean reversion as we head towards the weekend with 100 resistance looming. Thursday US cash market close: The Dow Jones Industrial Read more…
Short term outlook in Nasdaq (NQ) suggests the rally to 15270.96 ended wave ((X)). The Index has resumed lower in wave ((Y)), although it still needs to break below the last low on March 15 Read more…
For now, the USD reigns supreme – the trade-weighted USD sits at the highest levels since May 2020, as does the USDX, although this USD basket is heavily skewed towards the EUR. However, the bullish Read more…