AUDUSD started the day with strong positive momentum, quickly recouping yesterday’s mild losses to peak marginally above the 20-day simple moving average (SMA) and the 0.6962 level, which previously was unbreakable. That is also where Read more…
WTI crude oil futures made a notable attempt to surpass the medium-term descending channel and the bearish crossover within the 40- and the 200-day simple moving averages (SMAs). Currently, the momentum is weak but if Read more…
In the long term, EURUSD currency is expected to form a bearish corrective trend, which may take the form of a double zigzag consisting of cycle waves w-x-y. It is likely that at the time Read more…
WTI crude climbed after Saudi Arabia suggested trimming output. Both 20 and 30-day moving averages previously acted as resistance in a month-long retreat. A break above 95.00 and the MAs prompted sellers to cover, easing Read more…
Gold consolidates as traders await Fed comments from Jackson Hole. After the precious metal gave up more than half of its recent gains, the bulls are seeking to hold above the major support (1680) from Read more…
The New Zealand dollar treads water as Q2 retail sales numbers disappoint. The pair is grinding the demand zone (0.6150) from a bullish breakout in mid-July. A bullish RSI divergence shows a deceleration in the Read more…
Markets There’s no stopping the core bond sell-off for the moment. UK Gilts remain underperformers with UK money markets betting on aggressive BoE action (4.5% policy rate peak mid-next year). Double digit inflation and the Read more…
Market movers today Today’s key economic release is the IFO survey of the business climate in August. After the relative weak preliminary PMI release on Tuesday, the IFO survey will probably also show a decline Read more…
Daily Pivots: (S1) 0.9919; (P) 0.9959; (R1) 1.0008; More… Intraday bias in EUR/USD stays neutral as consolidation form 0.9899 is extending. Upside of recovery should be limited by 1.0121 minor resistance to bring another fall. Read more…
Daily Pivots: (S1) 1.1753; (P) 1.1797; (R1) 1.1839; More… Intraday bias in GBP/USD stays neutral and consolidation from 1.1716 is extending. Upside of recovery should be limited by 1.2002 support turned resistance to bring another Read more…