Fundamental Scenario of the Yen The Japanese yen was the worst-performing currency this week, falling by 0.6% and trading near a three-month low. Recent preliminary GDP data for the fourth quarter of Japan show a Read more…
USDCAD starts a battle with 200-day SMA However, MACD and stochastic suggest bearish retracement USDCAD has been recouping some losses after the strong bearish movement in the preceding two sessions but is currently finding strong Read more…
NZDUSD claims 200-day SMA and descending trendline But the pair fails to rally, extending sideways move Oscillators improve but remain in negative territories NZDUSD entered a downtrend after getting rejected at the 78.6% Fibonacci retracement of the 0.6536-0.5772 downleg Read more…
Nikkei 225 has continued its bullish momentum despite a technical recession in the Japanese economy. Current price action is just 0.9% away from its 38,957 all-time high printed in December 1989. Medium-term momentum is overbought Read more…
In focus today In the US, the University of Michigan’s preliminary consumer survey (including inflation expectations) and January producer prices figures (PPI) are due for release in the afternoon. Following the strong CPI earlier this Read more…
Daily Pivots: (S1) 1.0737; (P) 1.0761; (R1) 1.0797; More… EUR/USD is extending the consolidation from 1.0693 and intraday bias remains neutral. Outlook will remain bearish as long as 1.0804 resistance holds. Below 1.0694 will resume Read more…
Daily Pivots: (S1) 1.2561; (P) 1.2581; (R1) 1.2621; More… Intraday bias in GBP/USD remains in for the moment and outlook is unchanged. On the upside, break of 1.2691 resistance will indicate that correction from 1.2826 Read more…
Daily Pivots: (S1) 0.8767; (P) 0.8816; (R1) 0.8850; More…. Intraday bias in USD/CHF remains neutral as consolidation continues below 0.8884. Some more consolidative trading would be seen but downside should be contained by 0.8727 resistance Read more…
Daily Pivots: (S1) 149.47; (P) 150.02; (R1) 150.50; More… USD/JPY is extending the consolidation from 150.87 and intraday bias stays neutral. Downside of retreat should be contained by 148.79 resistance turned support to bring another Read more…
Daily Pivots: (S1) 0.6492; (P) 0.6511; (R1) 0.6544; More… Intraday bias in AUD/USD remains neutral as consolidation from 0.6442 is still extending. Outlook will stay bearish as long as 0.6621 resistance holds. Below 0.6442 will Read more…