Month: January 2023

The British Pound started a downside correction from the 1.2450 resistance zone against the US Dollar. The GBP/USD pair declined below the 1.2350 level, but it remained well bid near 1.2260. The pair is now Read more…

The ECB prepares to hold its first rate-setting meeting for 2023 on February 2. The market is almost certain that another 50 bps rate hike will be announced next week. The attention falls on the ECB outlook Read more…

Markets Yesterday, the (EMU) PMI’s were the main eco story for trading. Both manufacturing (48.8 from 47.8) and services (50.7 from 50.2) beat expectations, raising the composite PMI to 50.2, the first reading north of Read more…

Daily Pivots: (S1) 1.5408; (P) 1.5455; (R1) 1.5502; More… EUR/AUD’s decline from 1.5976 resumes by breaking through 1.5376 today, and intraday bias is back on the downside. Sustained break of 1.5271 support will carry larger Read more…

Daily Pivots: (S1) 0.8778; (P) 0.8813; (R1) 0.8858; More… Intraday bias in EUR/GBP remains on the upside for retesting 0.8896 resistance. Firm break there will resume whole rise from 0.8896 to 61.8% projection of 0.8545 Read more…

Daily Pivots: (S1) 141.27; (P) 141.74; (R1) 142.21; More…. Range trading continues in EUR/JPY and intraday bias remains neutral. On the downside, break of 137.37 will resume the whole decline from 148.38 to 135.40 fibonacci Read more…

Daily Pivots: (S1) 159.82; (P) 160.82; (R1) 161.65; More… Intraday bias in GBP/JPY stays neutral at this point. On the downside, break of 155.33 low will resume the fall form 172.11 to 153.70 fibonacci level Read more…

Daily Pivots: (S1) 1.0003; (P) 1.0035; (R1) 1.0076; More…. EUR/CHF’s rebound from 0.9873 is still in progress and intraday stays on the upside for resting 1.0095. Firm break there will resume whole rally from 0.9407 Read more…

After its last meeting, the BOC Governor Macklem said that the likely course would be a pause, unless there was a major change in the data. Of course he said it with a lot more Read more…