Brexit, UK tax concerns probe bulls above 1.2350, PMIs eyed
GBP/USD clings to mild gains after reversing from 7.5-month high the previous day. UKICE reports no likely change to Brexit terms despite UK’s latest hardships. Concerns surrounding UK’s tax cuts in upcoming budget, tax probe on Conservative leader also probe Cable buyers. Preliminary readings of UK/US PMIs for January, BOE’s Pham eyed for fresh impulse. […]
XAU/USD bulls move in ahead of key events and pending Federal Reserve
Gold price runs higher within the consolidation and towards recent bull cycle highs. Gold price will now depend on key United States economic events ahead. The Federal Reserve is looming and all will be revealed at the start of February. Gold price has been a touch higher at the start of the week, digging into […]
Bulls approach 1.2435 hurdle amid five-day uptrend
GBP/USD picks up bids to refresh intraday high; extends previous two-week winning streak. RSI conditions, six-week-old resistance line challenge Cable buyers. 21-SMA, ascending trend line from early January puts a floor under the price. GBP/USD stays on the front foot as bulls keep the driver’s seat during early Monday morning in Asia, after a two-week […]
AUD/USD bulls reclaimed 0.6900 as the USD wobbles
A risk-on impulse favored risk-perceived currencies like the Australian Dollar. The US housing market continues to deteriorate, as shown by Existing Home Sales plunging. Fed officials favor a deceleration of rate hikes, though the higher-for-longer stance remains unchanged. The AUD/USD edged higher in the mid-North American session on Friday, following a soft employment report from […]
Bulls reclaim the 20/200-DMAs, eyeing a weekly close above 140.50
EUR/JPY bounced off the day’s lows at 139.03 and hit a daily high of 141.19 before losing steam. The EUR/JPY reclaiming and achieving a daily close above the 200-day EMA keeps bulls hopeful of higher prices. The Euro (EUR) rallies sharply on Friday, ahead of the weekend, as the Japanese Yen (JPY) weakened following the […]
Bulls are trapped, 0.6950 eyed before further downside potential to test below 0.6800
AUD/USD bears are stalling, for now, and there are eyes on 0.6935 with the 38.2% Fibonacci around 0.6950 Bears eye a break of 0.6905 to open the price imbalance below and a run to 0.6800 and 0.6750 below there. AUD/USD bulled in breakout traders when the price broke 0.7000 and reached the 0.7060s. At this juncture, the […]
Dovish surprise in US retail sales leaves little to salvage dollar bulls
The Bank of Japan dismissed market rumors about further adjustments in the yield curve control and left the policy unchanged today, disappointing recent yen buyers. The Bloomberg report released yesterday about the ECB plans to execute more caution in the rest of the tightening cycle caused brief market embarrassment sending EURUSD to 1.08 and below, […]
Equities Stall but Bulls Stand Firm
Dax, Dow Jones, FTSE Outlook: Dow Jones outlook weighed down by Goldman Sachs earnings – DJI uncertain around 34,000. FTSE 100 trades flat as narrow range forms below the all-time high. Dax 40 futures remain optimistic despite technical headwinds Recommended by Tammy Da Costa DailyFX Analysts Discuss Their Q1 Equity Outlook Dax 40 Outlook: In […]
EURUSD Hits New 9-Month High But Bulls May Be Out of Puff
EUR/USD Price, Chart, and Analysis There wasn’t much data for traders to digest on Monday, but suspicions that Eurozone borrowing costs will rise sharply keep the Euro supported EUR/USD rose back above 1.08 It’s a far cry from the slide below parity seen last year Bulls remain in charge but may be over-extended Recommended by […]
AUD/USD bulls eye a break of 0.6990s as domestic data underpins hawkish RBA sentiment
AUD/USD supported on domestic recent data. Bulls eye a break of the inverse head and shoulders. AUD/USD is trading at 0.6970 and in a tight 10-pip range between 0.6967 and 0.6977 on the day so far. The price has been capped below the recent 0.6990s recent highs in what has been a choppy consolidation range […]