EURUSD keeps negative tone in the first trading day of 2024 and extends pullback from a multi-month high (1.1139) into third consecutive day. Break through initial support at 1.1041 (Fibo 23.6% of 1.0723/1.1139 upleg) extended Read more…
The medium-term downtrend phase of USD/JPY in place since the 15 November 2023 high has reached a potential inflection level at 140.25. A potential countertrend corrective rebound scenario may unfold next. Watch the first immediate Read more…
China Caixin Manufacturing posts slight growth The Australian dollar is in positive territory on Tuesday. In the European session, AUD/USD is trading at 0.6826, up 0.22%. The week between Christmas and New Year’s was subdued Read more…
EUR/GBP rebounds from 0.8650 on weaker-than-projected UK factory data. The outlook of the UK manufacturing sector remains gloomy due to deepening cost of living crisis. German HICP is seen significantly higher in December. The EUR/GBP Read more…
UK PMI Manufacturing was finalized at 46.2 in December, down from November’s 47.2. This marks the seventeenth consecutive month where the index has remained below the neutral 50 threshold, indicating ongoing contraction. According to S&P Read more…
GBPUSD pares some gains after posting a 4-month peak But remains within its upward sloping channel Positive bias holds as momentum indicators are skewed to the upside GBPUSD had been forming a profound structure of higher highs Read more…
Eurozone’s PMI Manufacturing was finalized at 44.4 in December, up slightly from November’s 44.2. Despite this minor uptick, marking a seven-month high, the index remained below the critical 50.0 threshold, signaling a continued deterioration in Read more…
Daily Pivots: (S1) 179.07; (P) 179.80; (R1) 180.30; More… Intraday bias in GBP/JPY stays neutral as range trading continues. Further decline is expected as long as 184.15 resistance holds. On the downside, break of will Read more…
Daily Pivots: (S1) 155.24; (P) 156.10; (R1) 156.55; More… Range trading continues in EUR/JPY and intraday bias stays neutral. On the upside, above 158.55 will resume the corrective rebound from 153.15. On the downside, break Read more…
Daily Pivots: (S1) 0.8653; (P) 0.8677; (R1) 0.8693; More… Break of 0.8649 minor support argues that EUR/GBP’s rebound from 0.8548 has completed at 0.8713. Intraday bias is back on the downside for retesting 0.8548 support. Read more…