USDCAD seems to be forming a long-term correction wave (4) of the intermediate degree, which is part of the global downward impulse –– of the primary degree. Perhaps the correction wave (4) is a side Read more…
AUDUSD is surging above the medium-term descending trend line, adding some optimism for a short-term bullish bias. The simple moving averages (SMAs) are also confirming this move as they are pointing upwards, and the technical Read more…
You had the feeling that Wall Street, with perpetually itchy buy-button trigger fingers, was primed for this FOMC. As expected, the FOMC raised the Fed Funds target by 0.75%, to a target range of 2.25%-2.50%. Read more…
EUR/USD Wednesday’s expectations for low volatility ahead of the Fed’s decision were realised. The Euro moved steadily higher around the opening of the European session, reaching its key level of 1.0170, but quickly corrected the Read more…
The S&P 500 soared as the Fed dropped the dreadful option of a full percentage rate hike for now. From the daily chart’s perspective, the market mood is cautious at best. However, there might still Read more…
WTI crude bounces higher as US inventories show a larger-than-expected rise. The price is having a hard time holding onto its recent gains after it broke below last April’s low at 94.00. Sentiment has turned Read more…
The US dollar softened after the Fed raised rates by 75bp as expected. The medium-term direction still points to the upside but intraday price action may remain choppy. The pair has struggled to find bids Read more…
Markets The Fed as expected lifted policy rates by 75 bps to what is now considered a neutral 2.25/2.50%. Chair Powell made clear that more tightening is appropriate as inflation remains high and the labour Read more…
Daily Pivots: (S1) 1.2785; (P) 1.2848; (R1) 1.2889; More… USD/CAD’s fall from 1.3222 is resuming and intraday bias is back on the downside. Sustained break of 1.2818 support will bring deeper fall back to 1.2516 Read more…
Daily Pivots: (S1) 0.6934; (P) 0.6974; (R1) 0.7034; More… AUD/USD’s rise from 0.6680 resumed after brief retreat and intraday bias remains on the upside. Sustained trading above 55 day EMA (now at 0.6965) will pave Read more…