Bulls moving in on the bear’s break of 1.2090 structure
Share: GBP/USD is setting the foundations for a bullish setup with the 1.2180s eyed in a 50% mean reversion target. A 38.2% Fibonacci retracement is located at 1.2195. Nevertheless, bears will be lurking considering the break of structure at 1.2090. GBP/USD bulls moved in on Tuesday and are setting the foundations for a […]
Bears eye a run to 1.2170, but watch out for the trap
GBP/USD bulls face the task of getting back over the line ahead of the NFP. Bears are taking on a key layer of support with eyes to 1.2170. GBP/USD is on the defensive following a recent break of daily structure that led to a colossal sell-off in the London and New York equities opening hours. […]
US Dollar bears celebrate Fed’s dovishness
What you need to take care of on Thursday, February 2: The US Dollar plummeted following the US Federal Reserve’s monetary policy decision. The central bank decided to hike its benchmark rate by 25 basis points (bps) as widely anticipated by market players. The statement showed that policymakers changed the wording on inflation, noting that […]
Bears move in and eye a break of critical support
USD/CAD bulls look to the 50% mean reversion target of the bearish impulse. Bears eye supports below 1.3300, targeting 1.3250/20 and then 1.3200 / 1.3150. USD/CAD has blown off on Tuesday as preliminary domestic data showed the economy growing at a slightly faster pace than the Bank of Canada expected in the fourth quarter. This brings us […]
Upbeat China PMI, IMF growth forecasts probe bears around mid-0.7000s
AUD/USD picks up bids to challenge two-day downtrend. China official PMIs came in firmer for January, IMF revised up growth forecasts. Aussie Retail Sales, cautious mood ahead of the key data/events previously weighed on prices. US data eyed ahead of Fed meeting, risk catalysts are important too. AUD/USD probes the two-day downtrend while picking up […]
Bond bears quietly plot their move against the BOJ again
<p style="" class="text-align-justify">Just when you thought the BOJ could afford some time to breathe a little easier, it looks like it may barely last over a week. Talk of the central bank perhaps <a href="https://www.forexlive.com/centralbank/ex-boj-official-says-bank-likely-to-begin-phasing-out-extraordinary-measures-by-sepoct-20230125/" target="_blank" rel="follow">looking to begin normalising policy</a> later this year and a lack of pushback on that from Kishida earlier <a […]
Bears eye a retracement opportunity
NZD/USD bulls are taking on major resistance as the greenback falters. Bulls eye a break of recent highs but bears are lurking. NZD/USD has come up into a major resistance and it begs the question as to whether the bulls will stay the course as we head into critical events on both the United States and […]
Bears are moving in and eye a break of structure
AUD/USD bulls are in charge at the start of the week but bears are lurking. The US Dollar bulls need to show up to enable the Aussie is going to break the downside structure. As per the start of the week’s analysis, AUD/USD Price Analysis: Bulls eye 0.7020, bears target a break of H1 structure, […]
Bears taking on bullish commitments near 1.3450 key area
USD/CAD bears are taking on a double bottom near 1.3450 support area. Bears eye a 61.8% Fibonacci retracement near 1.3415 should the double bottom (DB) be breached. USD/CAD is eating into the bullish rally’s tracks from yesterday’s business with 1.3450/30 eyed as a potential support structure in what has been a choppy descent from above 1.3500 on […]
USD/JPY Price Analysis: The yen strengthens, as bears stepped in around 128.60s
On Thursday, the USD/JPY fails to hold to its gains and trades beneath its opening price by 0.33% after hitting a daily high of 128.88. At the time of Source link