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Market Analysis

With the UK Data Releases Imminent, What Does This Mean for GBP/USD?

June 11, 2021

The British economic calendar is all geared towards entertaining traders during the early hours of Friday, at 06:00 GMT with April GDP figures for 2021. Also increasing the importance of that time...

Will the USD/CHF’s Downtrend Continue?

June 11, 2021

Quote well below the 200-SMA. Bearish MACD favours sellers. The USD/CHF pair has remained between 0.8935 and 0.8940 during early session on Friday. The trade price is well below the 200-SMA, and...

Asia-Pacific Shares See Gains Ahead of US Treasury News

June 10, 2021

Talking Points: Asia-Pacific shares saw gains in Thursday trading session. USD strength contains the possible gains for commodities and equities. Investors are becoming cautious amidst a risk-off...

Can AUD/USD Bulls Break the 0.7760 Resistance Level?

June 10, 2021

Bulls target resistance near 0.7745. MACD oscillator sits neutral as traders watch on. During the early session on Thursday, the AUD/USD pair had recovered some of its losses from the previous day....

NZD/USD Bears Eye Up the 200-Day Simple Moving Average (SMA) As They Target 0.7200 USD

June 8, 2021

Talking Points: NZD/USD breaks a two-day uptrend and now looks to head lower. The Immediate downward trend line fights the vital SMA amid recovering Momentum. Additional Bear momentum may await a...

Gold Back to $1900 After Poor US Non-Farm Payroll Data Release

June 8, 2021

Gold returned to the $1,900 fold on Monday for the first time in three trading sessions as the dollar and U.S. bond yields continued their retreat on uninspiring U.S. jobs growth for May. Gold had...

USD/CHF Bulls Still Have Control of the Market Around 0.8990 USD

June 3, 2021

Talking Points:  USD/CHF holds its gains in the early trading session in Europe. The pair eye up additional gains as it sits comfortably above 50-hour SMA. The momentum oscillator indicates a...

OPEC+ Facing Dilemma as Global Economies Spring Back into Action

June 2, 2021

A year after cutting unprecedented volumes of crude, the OPEC+ alliance is expecting world oil markets to get extremely tight. Led by Saudi Arabia and Russia, OPEC believes the excess created when...

Will the EUR/GBP Continue its Bearish Move Towards 0.8580?

June 1, 2021

EUR/GBP moves lower after touching weekly resistance. Downward MACD confirms bearish move. Traders wait on for EU’s CPI and UK’s PMI data release. EUR/GBP has taken a pause at around 0.8590,...

Gold Eyes Up the 2000 USD Barrier As Bulls Take Control of the Market in May

June 1, 2021

Gold keeps a firm hold and is consolidating under an almost new three-month high at 1912 USD in yesterday’s trading sessions, supported by a weak dollar and growing inflationary pressures...

China’s Non-Manufacturing PMI is Supported by High Spending During the Golden Week Holidays

May 31, 2021

The manufacturing PMI grew steadily even though this was a short month. The main risks to this good news are chip shortages, high commodity prices, and the emergence of Covid in Guangdong (the...

USD Index (DXY) Edges Higher Ahead of Data Release

May 27, 2021

US dollar touches resistance on the daily chart. US yields optimism drives index higher. Early during Thursday, the USD edged higher as traders show optimism  ahead of key yield data at the end of...

AUD/JPY Bears Look to Challenge the 20-hour Simple Moving Average

May 25, 2021

Talking Points: AUD/JPY pair sees a small gain in early trading in the Asian session. Additional downward movement could be seen if it falls below 84.30. Current momentum could suggest a wait-and-see...

Oil Holding Steady as News of Iran’s Return to the Oil Markets Fade

May 25, 2021

Oil prices held firm Tuesday, holding around one-week highs after surging more than 3% the previous session as prospects of an early return of oil exporter Iran to international crude markets...

GBP/USD Price Bounces Off Short-Term Support Line

May 24, 2021

GBP/USD extends recovery as it moves from 2-week support line. Market turns its most bullish in five weeks. RSI favours buyers inside rising channel. GBP/USD picks moves to 1.4152, up 0.03%...

Corrective Pullback for USD/CHF as it Battles Previous Resistance Below 0.9000

May 19, 2021

USD/CHF bounces off late February lows, refreshing an intra-day top. Previous weekly bottom guards immediate upside, some volatility ahead. Sellers may aim for mid-0.8900s before early January tops....

Gold is at Risks of a Pullback as it Enters the Overbought Zone

May 18, 2021

Talking Points:  Gold rebounds from multi-month highs as Treasury yields attempt a bounce. USD bears take a break, as the focus moves to the Federal Open Market Committee (FOMC) meeting. The...

AUD/USD Tests the 200-SMA Inside a Rising Channel

May 18, 2021

  AUD/USD eases from one-week top. Overbought RSI, bearish chart pattern keep stop buyers. Sellers need a clear break of 0.7750 for fresh entry.   AUD/USD fades the post-RBA (Reserve Bank...

DXY Bears Should Ignore Recent Uptick Towards 90.50

May 17, 2021

  DXY picks up bids to refresh intra-day high, consolidates Friday’s losses. MACD teases bulls but multiple hurdles to the north keep bears hopeful.   US dollar index (DXY) stays firmer...

EUR/USD Inches Higher

May 11, 2021

The Euro moved slightly higher against the US Dollar during Monday’s session, however gains were capped by firm Treasury yields. These have returned to the same levels they were prior to Friday’s...

NZD/USD Retreats Below 0.7300 as Bulls Fight with a Two-Month Barrier

May 11, 2021

Talking Points: NZD/USD revisits intraday low following an early rocky trading session in Asia. The momentum line suggests a short-term correction of gains close to the multi-day high. Continued...

Crude Trading Higher After Ransomware Cyber Attack

May 10, 2021

Refined product prices this morning are trading slightly higher, after the Colonial pipeline in the US was temporarily shut following a ransomware cyberattack on Friday. This pipeline is of...

SPX500 Elliot Wave Cycle Trend To Complete Near 4643.1

May 10, 2021

  The SPX500 index looks to be forming a large impulse V of a cycle degree. At the time of writing, the impulse V has completed the primary sub-waves (1)-(2)-(3)-(4). From November 2020 onwards,...

The Dollar’s Share of Global Foreign Exchange Reserves Has Fallen to a 25-Year Low

May 7, 2021

The share of US dollar (USD) reserves held by central banks fell to 59%, its lowest level in 25 years, during Q4 of 2020, according to the IMF’s Currency Composition of Official Foreign Exchange...

All Eyes on the Federal Reserve as Dollar Holds 2-Week Highs

May 6, 2021

The dollar (USD) was lingering below a two-week high on Thursday, consolidating ahead of the Non-farm Payroll (NFP) that may provide some idea on when the Federal Reserve will dial back monetary...

Dogecoin’s (DOGE) Target of Hitting 1 USD Appears Unstoppable.

May 5, 2021

Talking Points: DOGE has just hit a new record high of 0.495 USD. DOGE’s network activity has also increased again. The crypto coin appears to have little resistance ahead. DOGE has achieved a...

Binance (BNB) Targets $600 and Potentially Higher

April 28, 2021

Talking Points: BNB witnesses a fall in bullish momentum following a 15% uptrend. A small retreat towards 520 USD or lower may provide buyers with the chance to buy-in. The supply territory between...

Global Economy Poised for Rapid Recovery

April 27, 2021

The global economy looks set to recover this year, from the turmoil brought on by the coronavirus pandemic, at a pace not seen since the 1970s, as strong momentum is beginning to build in most major...

Stellar (XLM) Is on the Verge of a 200% Rally

April 22, 2021

Talking Points: XLM is testing a 3-day demand territory between 0.453 USD and 0.546 USD. A successful climb above this could launch XLM to huge gains. If the support level at 0.422 USD is broken, XLM...

Corn at its Highest for 8 years, Buoyed by Poor U.S. Weather Conditions

April 22, 2021

Chicago corn futures gained more ground on Thursday, with prices jumping to a new eight-year high as cold weather in the United States and declining crop conditions in Brazil raised worries over...