Daily Pivots: (S1) 1.2344; (P) 1.2395; (R1) 1.2463; More… Range trading continues in GBP/USD above 1.2306 and intraday bias remains neutral. Further decline is expected with 1.2468 minor resistance intact. On the downside, break of Read more…
Canada GDP was flat at 0.0% mom in March, slightly above expectation of -0.1% mom. Services-producing industries was flat while goods-producing industries contracted -0.1% mom. Overall, 12 of 20 industrial sectors posted increases in March. Read more…
The official services and manufacturing PMIs were much weaker than expected, adding to the move into defensive assets on concerns over China’s economy. The Manufacturing PMI fell from 49.2 to 48.8 instead of the expected Read more…
The official services and manufacturing PMIs were much weaker than expected, adding to the move into defensive assets on concerns over China’s economy. The Manufacturing PMI fell from 49.2 to 48.8 instead of the expected Read more…
It is assumed that the GBPUSD pair can build a corrective cycle wave IV. Perhaps this correction takes the form of a triple zigzag of the primary degree Ⓦ-Ⓧ-Ⓨ-Ⓧ-Ⓩ. At the time of writing, the Read more…
Daily Pivots: (S1) 149.66; (P) 150.14; (R1) 150.55; More…. Intraday bias in EUR/JPY remains neutral at this point. On the downside, break of 148.83 support will extend the corrective pattern from 151.60 with another falling Read more…
Daily Pivots: (S1) 1.0689; (P) 1.0718; (R1) 1.0763; More… Intraday bias in EUR/USD stays neutral and further decline is expected with 1.0757 minor resistance intact. On the downside, break of 1.0671 will resume the fall Read more…
Daily Pivots: (S1) 0.6494; (P) 0.6526; (R1) 0.6550; More… Intraday bias in AUD/USD is back on the downside with breach of 0.6489 temporary low. Current down trend from 0.7156 should target 61.8% projection of 0.7156 Read more…
New Zealand’s ANZ Business Confidence Index climbed from -43.8 to -31.1 in May, offering some positive news for the economy. Own Activity outlook also edged higher, moving from -7.6 to -4.5. A more granular look Read more…
Key Highlights Gold price found support near the $1,930 zone. A major bearish trend line is forming with resistance near $1,960 on the 4-hour chart. EUR/USD spiked below 1.0700 before the bulls took a stand. Read more…