Bounces off 14-month low but stays on the bear’s radar below 0.9200
USD/CHF consolidates recent losses around the lowest levels since November 2021. A two-month-old bearish channel, downbeat oscillators keep sellers hopeful. Bear cross, clear downside break of key ascending trend line adds strength to the bearish bias. Recovery remains elusive unless the quote stays below 200-DMA. USD/CHF picks up bids to lick its wounds around the […]
Intraday Market Analysis – GBP bounces back
GBPUSD seeks support The high beta pound edges higher on improved market sentiment. A surge above 1.2080 has prompted short-term sellers to cover their positions. This could be the signal the bulls have been waiting for after the pair drifted lower in search of support. As the RSI returns to the neutrality […]
S&P 500, Nasdaq, Dow Jones Forecast: Support Bounces in-Play
Indices Talking Points: Yesterday’s sell-off ran down to supports in the S&P 500, Nasdaq and Dow. Prices held that support earlier in today’s session before pushing a rally in the afternoon. The stage is still setting for the CPI report set to be released on Thursday morning. The analysis contained in article relies on price […]
Intraday Market Analysis – USD bounces back
NZDUSD tests key support The US dollar soared after jobless claims showed resilience of the labour market. On the daily chart, the directional bias remains up with the pair seeking to secure a foothold. A previous sharp drop found support over 0.6200, but its failure to reclaim 0.6360 could be detrimental to […]
USDCAD bounces off the 100 day MA today…and again
Yesterday, the USDCAD moved sharply lower despite the fact that oil prices were tumbling to the downside. Below is the post on the pair. Here is the link: https://www.forexlive.com/technical-analysis/oil-is-down-350-but-usdcad-is-lower-by-134-20230104/ Maybe the move to the downside (higher CAD CAD The Canadian dollar (CAD) is the official currency of Canada and at the time of writing is […]