The current USDCAD timeframe shows the internal structure of a large correction pattern, which most likely takes the form of a cycle triple zigzag w-x-y-x-z. Perhaps the first four parts are fully completed, and now Read more…
The pound slipped as the BoE raised its interest rate by a moderate 0.5%. The bearish inertia has taken a front seat after Sterling slipped through March 2020’s lows (1.1420). The RSI’s repeated oversold situations Read more…
The Swiss franc fell after the SNB’s hike came short of the 100bp previously priced in. A clean cut above the support-turned-resistance at 0.9690 is a sign of strong interest. The double top at 0.9870 Read more…
The Japanese yen skyrocketed following the first Japanese currency intervention in 24 years. The pair swiftly reversed its course after flirting with the psychological level of 145.00. A break below 143.50 triggered a liquidation of Read more…
USD/JPY: On the H4 chart, price has reflected off the 1st support at 140.363 and back up to the 1st resistance at 142.574 where the 78.6% Fibonacci line is. Price might possibly reflect off it Read more…
Markets Wednesday’s ‘hawkish’ 75 bps Fed rate hike only reinforced markets’ belief that tightening of global financial conditions still has some way to go. Other central banks including the Norges Bank (+ 50 bps), the Read more…
Daily Pivots: (S1) 158.13; (P) 161.29; (R1) 163.44; More… GBP/JPY’s break of 159.42 support is taken as a early sign of bearish trend reversal. Intraday bias stays on the downside for 155.57 support first. Decisive Read more…
Daily Pivots: (S1) 137.93; (P) 140.82; (R1) 142.91; More…. Focus stays on 138.38 resistance turned support in EUR/JPY. Decisive break there will be an early indication of larger bearish reversal. Deeper fall would be seen Read more…
Daily Pivots: (S1) 0.8699; (P) 0.8729; (R1) 0.8767; More… Intraday bias in EUR/GBP remains neural as consolidation from 0.8786 is still extending. Downside should be contained by 0.8624 support to bring another rally. On the Read more…
Daily Pivots: (S1) 1.4750; (P) 1.4846; (R1) 1.4901; More… EUR/AUD is staying in consolidation from 1.4965 and intraday bias remains neutral first. Further rise is in favor as long as 1.4663 minor support holds. On Read more…