Month: November 2023

Market movers today The key market mover today will be the FOMC meeting tonight. We expect the Fed to stay on hold in line with consensus and market expectations, and look for no further hikes Read more…

Daily Pivots: (S1) 1.3829; (P) 1.3860; (R1) 1.3907; More… USD/CAD’s rally resumed after brief retreat and intraday bias is back on the upside. Current rally should target retest on 1.3976. Decisive break there will resume Read more…

Daily Pivots: (S1) 0.6309; (P) 0.6343; (R1) 0.6372; More… Range trading continues in AUD/USD and intraday bias stays neutral. Outlook remains bearish with 0.6398 resistance intact. On the downside, break of 0.6269 will resume larger Read more…

Daily Pivots: (S1) 1.0531; (P) 1.0603; (R1) 1.0648; More… Intraday bias in EUR/USD remains neutral for the moment. On the downside, break of 1.0522 support will turn bias back to the downside for retesting 1.0447 Read more…

Daily Pivots: (S1) 1.2112; (P) 1.2157; (R1) 1.2193; More Range trading continues in GBP/USD and intraday bias stays neutral. With 1.2336 resistance intact, downside breakout is expected. On the downside, firm break of 1.2036 will Read more…

Daily Pivots: (S1) 0.9040; (P) 0.9074; (R1) 0.9139; More…. Intraday bias in USD/CHF stays on the upside at this point. Sustained trading above 0.9086 resistance will pave the way back to 0.9342 resistance next. On Read more…

Daily Pivots: (S1) 149.87; (P) 150.80; (R1) 152.56; More… Intraday bias in USD/JPY remains on the upside for 151.93 key resistance. Firm break there will target 100% projection of 129.62 to 145.06 from 137.22 at Read more…

The forex markets displayed a calm demeanor during Asian session today, with traders eagerly anticipating FOMC rate decision. After experiencing a tumultuous selloff, Yen found some semblance of stability, courtesy of verbal intervention by Japan. Read more…

The short-term Elliott wave view in the GBPJPY suggests that the cycle from 03 October 2023 low is nesting higher & expected to accelerate higher. Up from there, the rally to 183.81 high ended wave Read more…

The ongoing rally from last Friday, 27 October low has taken on the form of an impending “bearish flag” formation. Coupled with a weak market breadth condition (less than 50% of Nasdaq 100 component stocks Read more…