Daily Pivots: (S1) 1.6046; (P) 1.6136; (R1) 1.6272; More… Intraday bias in EUR/AUD remains on the upside for the moment. Rise from 1.5354 should now target 100% projection of 1.5354 to 1.6168 from 1.5559 at Read more…
Daily Pivots: (S1) 131.55; (P) 131.82; (R1) 132.19; More…. Intraday bias in EUR/JPY remains on the upside at this point. Corrective pattern from 134.11 should have completed three waves down to 127.36. Further rally should Read more…
Daily Pivots: (S1) 1.0547; (P) 1.0574; (R1) 1.0628; More…. Intraday bias in EUR/CHF remains on the upside at this point. Rise from 1.2098 medium term bottom should target 8.2% retracement of 1.1149 to 1.0298 at Read more…
The markets are steady in Asia in a quiet start to the week. Euro is softening slightly, paring some of last week’s gain. Aussie and Kiwi also turn weaker on mild risk aversion. On the Read more…
Key Highlights EUR/USD started a fresh increase above the 1.1400 resistance. It broke a key bearish trend line with resistance near 1.1235 on the 4-hours chart. GBP/USD also recovered above 1.3550 and tested 1.3620. Crude Read more…
Bitcoin’s rebounded strongly over the week and and it’s now trading back above 42k handle. The decline from 68986 is seen as the first leg of a long term corrective pattern. Such fall should have Read more…
China PMI Services dropped from 53.1 to 51.4 in January, above expectation of 50.5. PMI Composite dropped from 53.0 to 50.1. Wang Zhe, Senior Economist at Caixin Insight Group said: “To sum up, both the Read more…
Australia retail sales dropped -4.4% mom in December to AUD 31.93B. For Q4, sales rose 8.2%, fastest on record. Ben James, Director of Quarterly Economy Wide Statistics, said: “Consumers enthusiastically returned to discretionary spending following Read more…
Australia AiG Performance of Services Index rose 6.6 pts to 56.2 in January, hitting the highest level since June last year. Looking at some details, sales rose 5.3 to 58.9. Employment rose 0.5 to 56.7. Read more…
Given the lacklustre bounce on gold alongside a rise in short bets and closure of longs last week, we retain the view that its recent bounce is corrective. As of Tuesday 1st February 2022: Net-long Read more…