The USDJPY remains constructive and edges higher on Wednesday, following weak Japanese data overnight and a bear trap under Fibo support at 131.51 (61.8% of 129.50/134.77). Wednesday’s action, however, is rather quiet, as markets await Read more…
Stock futures higher as Powell avoids rate bet pushback; Treasury’s 10-year bond auction in focus as CPI data looms; Tesla seeks permission for $775 million Texas factory expansion; Apple looking to use in-house display screens Read more…
The Australian dollar is trading quietly on Wednesday. AUD/USD is at 0.6904, up 0.14%. Australian CPI climbs to 7.3% Australian inflation pushed higher in November, rising to 7.3% following a 6.9% gain in October. This Read more…
NZDUSD got trapped around 0.6370 immediately after the bounce on the 50- and 200-day simple moving averages (SMAs) at 0.6200. Interestingly, the congestion is developing around the lower boundary of the broken 2021-2022 bearish channel. While Read more…
USDJPY is moving slightly higher within the medium-term downward sloping channel, but the momentum is weak to continue the bullish structure above the 50.0% Fibonacci retracement level of the upward wave from 114.64 to 151.93 Read more…
The Euro keeps bullish bias in early Wednesday and regains traction after bulls took a breather (Tuesday’s Doji). Full reversal of January’s pullback (1.0705/1.0483) generates initial signal of continuation of larger uptrend from 2022 low Read more…
ECB Governing Council member Francois Villeroy de Galhau told Radio Classiqu, “activity in France is showing a better than expected resistance,” and a hard landing should be avoided. He expects inflation in France to peak Read more…
Most likely, the AUDUSD currency will form a bearish triple zigzag Ⓦ-Ⓧ-Ⓨ-Ⓧ-Ⓩ in the long term, where the primary wave Ⓩ is a simple zigzag (A)-(B)-(C). At the moment, an impulse wave (C) is being Read more…
The S&P 500 rallied after Fed Chair Powell avoided appearing hawkish in his latest remarks. The rally hit a bump in the former demand zone (3950) from December. Selling by previously trapped bulls weighs on Read more…
The Australian dollar strengthened over better-than-expected retail sales in November. On the daily chart, the price has been grinding along the 30-day average (0.6720). A close above the double top (0.6890) is a sign that Read more…