DXY: On the H4, with price expected to reverse off the ichimoku cloud resistance, we have a bearish bias that price will drop from our 1st resistance at 102.900 where the 38.2% Fibonacci retracement and Read more…
BoE is widely expected to continue with its tightening cycle, and raise Bank rate by 25bps to 1.00% today. Focus is firstly on the voting, on the whether any hawks would push for faster pace Read more…
China Caixin PMI Services dropped from 42.0 to 36.2 in April, below expectation of 40.9. That’s the second straight month of steep decline, and the worst reading since February 2020. Caixin said decline in new Read more…
US stocks staged a strong rebound overnight after Fed Chair Jerome Powell ruled out a 75bps hike. In the post-meeting press conference, he clearly said in a rare fashion, “a 75 basis point increase is Read more…
We have been keeping a close eye on gold for a potential swing low, and a combination of price action and sentiment analysis suggests we may have seen it. Over the past 48-hours conditions have Read more…
Short Term Elliott Wave View in AUDUSD suggests cycle from April 5 high ended at 0.7027 in wave (1). Down from April 5 high, wave 1 ended at 0.7396 and rally in wave 2 ended Read more…
The FOMC meeting was an out and out exercise in understanding positioning, rates pricing and market sentiment. This was a factor we brought up in the FOMC preview and we’ve seen these dynamics play out. Read more…
Traders may look at today’s press conference as marking “peak hawkishness” for the Fed, at least in the short term… What did the Fed do? As almost universally expected, the Federal Reserve opted to raise Read more…
Summary As universally expected, the FOMC raised its target range for the federal funds rate by 50 bps today. The range now spans 0.75% to 1.00%. The Committee also announced a plan to begin shrinking Read more…