Month: August 2022

Equity markets tread water amid US-China tensions over Taiwan. The FTSE is testing the supply zone (7470) at the start of a previous liquidation in early June. A bearish RSI divergence is a sign of Read more…

The New Zealand dollar weakened as the Q2 unemployment rate missed the mark. The pair has met stiff selling pressure at the daily resistance (0.6360) which was the start of the mid-June sell-off. As the Read more…

The Australian dollar tumbles as the RBA’s downbeat outlook may signal a slowdown in future rate hikes. The rally came to a halt in the vicinity of the daily resistance at 0.7050. A bearish RSI Read more…

Daily Pivots: (S1) 131.33; (P) 132.25; (R1) 134.10; More… Intraday bias in USD/JPY is turned neutral first with current recovery. Some consolidations could be seen above 130.38 temporary low. On the downside, below 130.38 will Read more…

Daily Pivots: (S1) 0.9504; (P) 0.9540; (R1) 0.9609; More… Intraday bias in USD/CHF remains neutral with focus on 0.9598 minor resistance. Firm break there should confirm short term bottoming at 0.9468, after defending 0.9471 keys Read more…

Daily Pivots: (S1) 1.0122; (P) 1.0208; (R1) 1.0252; More… Intraday bias in EUR/USD is neutral for the moment, but further rise will remain in favor as long as 1.0095 support holds. Rebound from 0.9951 will Read more…

USD/JPY: On the H4, price is bearish biased and moving strongly in an ascending trendline. It is still respecting the Ichimoku indicator, and has already broken the key support level at 131.527. The chart has Read more…

Daily Pivots: (S1) 1.2122; (P) 1.2200; (R1) 1.2242; More… Intraday bias in GBP/USD remains neutral for consolidation below 1.2292 temporary top. Further rally is expected as long as 1.2062 minor support holds. Above 1.2292 will Read more…

Overall, the development in the financial markets are rather mixed for now, still awaiting further development in Taiwan Strait tensions. Yen’s rally was somewhat choked by the recovery in US benchmark yields overnight. Dollar is Read more…