Intraday Analysis – XAU remains under pressure
AUDUSD seeks support The Australian dollar recovered after a hawkish RBA hinted at further hikes. A drop below the daily support of 0.6870 has dented the optimism in the short-term. The four-month long rally could be in for a bit of consolidation after the aussie cleared the daily resistance at 0.6900 which […]
Long-term trend remains tilted to the upside – SocGen
Share: The rally in EUR/USD came to a shuddering halt after the dovish market interpretation of the ECB rate decision. Still, economists at Société Générale note that the long-term points to the upside. Further profit-taking cannot be ruled out “Tactically, further profit-taking cannot be ruled out.” “The ECB may try to correct the […]
Recovery remains elusive below $75.40
WTI picks up bids to snap three-day downtrend at monthly low. Bearish MACD signals, previous support line challenge buyers. Upside appears doubtful below 100-DMA, descending trend line from August also challenges the Oil buyers. Seven-week-old horizontal support limits immediate downside ahead of 2023 bottom. WTI crude oil licks its wounds near the one-month low, picking […]
USD/JPY refreshes daily low on weaker US ADP report, focus remains on FOMC
USD/JPY turns lower for the second straight day and is pressured by a combination of factors. Bets for smaller Fed rate hikes, sliding US bond yields, weaker US ADP report weigh on the USD. The cautious market mood benefits the safe-haven JPY and contributes to the modest downall. The downside seems cushioned as the focus […]
Remains firm around 0.9210 after hitting a high shy of 0.9240
USD/CHF is downward biased but subject to a mean reversion move towards 0.9300. Solid resistance lies at 0.9235/40, with the confluence of technical indicators rejecting the USD/CHF rally. USD/CHF Price Analysis: Bulls are hopeful if the pair remains above 0.9158. After slumping on Wednesday, the USD/CHF stages a comeback recovering the 0.9200 psychological level, eyeing […]
EUR/USD Consolidates Around the 1.09 Handle as the Dollar Index Remains Vulnerable
EUR/USD Price, Charts and Analysis: Recommended by Zain Vawda Download Our Updated Euro Forecast for Q1 2023 READ MORE: CAD Breaking News: BoC’s 25bps Rate Hike Receives Dovish Reaction, Loonie on Offer EUR/USD OUTLOOK EUR/USD continued its advance from yesterday holding above the 1.09 handle following the European open. The Euro gained steam against the […]
Recovery remains elusive below 0.9255-60 hurdle
USD/CHF picks up bids to extend the previous day’s rebound from weekly low. Convergence of 200-SMA, support-turned-resistance line and a descending trend line from early January appears tough nut to crack for bulls. Impending bull cross on MACD, sustained bounce off 23.6% Fibonacci retracement suggest further recovery. USD/CHF grinds higher past 0.9200, mildly bid while […]
Recovery remains elusive below 1.3520
USD/CAD picks up bids to reverse intraday losses, probes two-day downtrend. Multiple moving averages stand tall to challenge recovery moves. MACD, RSI conditions suggest further weakness but 10-week-old support line restricts immediate downside. USD/CAD licks its wounds during a sluggish Monday morning as the pre-Fed blackout joins the Lunar New Year holidays in China. Even […]
EUR/USD Price Analysis: Remains consolidative below 1.0900
EUR/USD comes under pressure but remains bolstered by 1.0800. Next on the upside emerges the key barrier at 1.0900 the figure. EUR/USD fades the initial test of the 1.0860 region and returns to the negative territory on Friday. Extra range bound mood looks likely for the time being, while the surpass of the so far […]
Euro (EUR/USD) Latest – The Bullish Trend Remains in Place as the ECB Talks Tough
EUR/USD Price, Chart, and Analysis ECB ramps up the hawkish rhetoric. EUR/USD benefits from ongoing US dollar weakness. Recommended by Nick Cawley Get Your Free EUR Forecast The European Central Bank is not for turning and will continue to raise interest rates, and keep them there for long enough, ‘so that we can return inflation […]