Month: September 2022

Daily Pivots: (S1) 0.9774; (P) 0.9876; (R1) 0.9940; More… EUR/USD’s break of 0.9863 support confirms down trend resumption. Intraday bias is back on the downside for 100% projection of 1.0368 to 0.9863 from 1.0197 at Read more…

Dollar broke out to the upside overnight following hawkish Fed hike. At the same time, it’s closely trailed by Swiss Franc for now, on geopolitical risks. Risk aversion is also keeping Yen afloat in crosses, Read more…

SNB and BoE rate decisions are the remaining focuses of the day. SNB is widely expected to rise interest rate by 75bps to 0.50%, back in positive region. There are some speculations of a larger Read more…

BoJ kept monetary policy unchanged as widely expected. Under the yield curve control framework, short-term policy interest rate is held at -0.10%. BoJ will continue to purchase Japanese government bonds, without setting an upper limit, Read more…

US stocks tumbled broadly after Fed raised interest rate by 75bps overnight, and indicated that rate could reach 4.4% by year end. Chair Jerome Powell reiterated that pledge that “the FOMC is strongly resolved to Read more…

USD/JPY: On the H4 chart, price is still respecting the ascending momentum. We are still bullish bias- Price is testing above the previous low and if bullish momentum continues, it should bring price to first Read more…

Key Highlights USD/CAD gained pace and traded above the 1.3450 resistance. A key bullish trend line is forming with support near 1.3340 on the 4-hours chart. EUR/USD and GBP/USD extended losses below key support zones. Read more…

Short term Elliott Wave view on Nasdaq (NQ) suggests the decline from 8.17.2022 high is unfolding as a zigzag Elliott Wave structure. Down from 8.17 high, wave A ended at 12017.75. Wave B ended at Read more…

The FOMC hiked rates by 75bps today, as expected. The statement was similar to that of July’s.  However, the accompanying “dot plots”, which show where FOMC members think interest rates are headed, were much higher Read more…