The Australian dollar climbed back after the unemployment rate dropped to 4.2% in December. A surge above 0.7270 was the bulls’ attempt to initiate a reversal. As sellers covered their bets, the way might be open for a meaningful rebound. The follow-up correction met solid buying interest at 0.7170. Sentiment would remain upbeat as long […]

The Dow Jones 30 retreats as traders take profit ahead of next week’s Fed meeting. The index has given up all its gains from the late December rally and fell through the daily support at 34700. This bearish breakout could extend losses to the psychological level of 34000, a critical floor to prevent a deeper […]

GBPJPY continues to trend southwards so far this month following the peak at a two-month high of 157.75, with the price recently slipping back below its 20-day simple moving average (SMA) to reach a new low at 154.39 on Friday. The pair is decelerating within the lower bearish Bollinger zone and the momentum indicators are […]

USD/JPY falls in risk off trade USD/JPY is heading lower for a third straight session. Risk off trade is boosting demand for the safe haven yen in addition to a tick higher in Japanese inflation to 0.8% YoY in December, up from 0.6%. The minutes from the latest BoJ meeting also showed that policymakers saw upward […]

The Euro started a fresh decline from well above the 1.1450 zone against the US Dollar. The EUR/USD pair traded below the 1.1400 support zone to move into a bearish zone. There was also a move below the 1.1350 level the 50 hourly simple moving average. A low was formed near 1.1300 and the pair […]

NZDUSD has detached from the converged simple moving averages (SMAs) and has dipped below the multiple lower wicks of the candles from January 6 till the 11. The stabilized SMAs are endorsing a more neutral trajectory in the price as the pair remains rangebound, oscillating between the 0.6678-0.6700 floor and a 0.6890-0.6910 ceiling. The falling […]

USD and JPY are coming higher as stocks continue to weaken with SP500 breaking below 4500. So risk-off may resume which can allow USD to recover even more. EURUSD came higher last week after US CPI figures. Pair moved to the upper side of a corrective channel line, to around 1.1490 where bulls slowed down […]

USDCAD has found strong support at the 200-day simple moving average (SMAs) over the last few sessions, remaining above the 1.2500 psychological number. The RSI indicator is also appearing weak in the negative region, while the stochastic oscillator is heading up after the bullish crossover within the %K and %D lines in the oversold zone. […]

EUR/USD The rally of the pair turned out to be fake as expected and the downtrend resumed from the high at 1.1480. During yesterday’s session, the support at 1.1320 was violated, but has not yet been breached. The lack of buyers around 1.1360 and their low activity around 1.1320 suggests that a new decline towards […]

Gold surged over geopolitical tensions between the West and Russia over Ukraine. Following a three-week-long sideways grind, the break above the triple top at 1830 indicates strong commitment from the buy-side. 1850 is the next level to clear, which would lead to November’s peak at 1877. The RSI has shot into the overbought area, and […]