Retail stocks have taken a beating, but inflation, supply chain woes, and other cost concerns don’t tell the full story. Retail stocks have seen huge price drops because pretty much every retailer has issued a Read more…
EUR/USD: Fed FOMC Meeting Results Last week’s events were based on Friday, June 10, when US inflation statistics were released, which amounted to 8.6% against the expected 8.3%. Having learned these disturbing data, market participants Read more…
EUR/USD recovered ahead of 1.0339 lower last week but stayed well below 1.0786 resistance. Initial bias remains neutral this week first and further fall is in favor. On the downside, sustained break of 1.0339/48 will Read more…
USD/JPY edged higher to 135.58 last week but retreated since then. Initial bias remains neutral this week and some more consolidation cannot be ruled out. But further rally is expected as long as 131.34 support Read more…
GBP/USD dived further to as low as 1.1932 last week but quickly recovered. Initial bias remains neutral this week for some consolidations. But outlook stays bearish as long as 1.2666 resistance holds. On the downside, Read more…
USD/CHF was rejected below 1.0063 resistance last week and dropped sharply. Further fall could be seen this week. However, fall from 1.0048 is viewed as the third leg of the corrective pattern from 1.0063. Strong Read more…
Business inventories show how much merchandise remains to be sold and are considered a leading indicator to gauge future economic conditions. Canva What Are Business Inventories? Business inventories are an economic indicator that focuses on Read more…
AUD/USD’s fall from 0.7282 extended lower last week but recovered ahead of 0.6828 support. Initial bias remains neutral this week first. On the downside, firm break of 0.6828 support will resume larger fall from 0.8006. Read more…
USD/CAD rose to as high as 1.3077 last week. The breach of 1.3075 resistance suggests that rise from 1.2005 is resuming. Initial bias stays on the upside this week. Sustained trading above 1.3022 fibonacci level Read more…
GBP/JPY’s correction from 168.57 should have completed at 159.97 last week. Initial bias is now mildly on the upside for retesting 168.67. Decisive break there will resume larger up trend. On the downside, however, break Read more…