Currency

The Cable consolidated throughout last week in the context of an uptrend. Price tested the accumulation territory at 1.2850, but closed above it. A closer look at the market reveals that the uptrend is getting tired, thereby increasing chances of a large pullback, which could happen this week. A movement below the accumulation territory at […]

Here’s the market outlook for the week: EURUSD Dominant bias: Bullish This pair is bullish in the medium-term, but neutral in the short-term. Price tested the support line at 1.0850, closing above the support line at 1.0900 on Friday. A movement above the resistance line at 1.1000 would strengthen the existing bullish bias, while a […]

Yesterday wasn’t too super for the pound, with GBP exchange rates broadly declining in the wake of the BoE’s latest interest rate decision. GBP/EUR dropped to a low of €1.1838, GBP/USD fell from $1.2944 to $1.2853, GBP/AUD edged from AU$1.7570 to AU$1.7439, GBP/NZD closed the day at NZ$1.8839 (up from a low of NZ$1.8774) and […]

When I first went to university the initial week was filled with the usual getting to know the lay of the land such as how the library works (in a surprisingly mysterious way I might add), where various labs where and what the protocol for various subjects was. One of the most striking events was […]

Towards the end of yesterday’s European session GBP/EUR was holding above €1.1900, with GBP/USD fluctuating around $1.2950. The pound dropped against the Australian, New Zealand and Canadian dollars however, with GBP/AUD falling back to AU$1.7521 (down from a high of AU$1.7652). Although GBP/NZD tumbled from NZ$1.8813 to NZ$1.8634 ahead of the Reserve Bank of New […]

Gradual pound gains seem to be the theme of the week, with Sterling spending Tuesday sneaking its way higher against the majors. GBP/EUR advanced to a May high of €1.1921, GBP/USD tiptoed to an eight-month high of $1.2981, GBP/AUD surged from AU$1.7557 to AU$1.7649, GBP/NZD closed the day above NZ$1.8800 and GBP/CAD recovered from C$1.7673 […]

The pound managed to hold its own against the other majors at the beginning of the week despite a lack of UK news. The GBP/EUR exchange rate meandered from €1.1817 to €1.1864, GBP/USD lingered at $1.2933 (close to an eight-month high), GBP/AUD jumped to a new eight-month high of AU$1.7636 and GBP/NZD advanced to NZ$1.8800. […]

Macron 66.1% Le Pen 33.9% Emmanuel Macron is France’s new president after convincingly beating the National Front candidate Marine Le Pen in the second round run-off. After a fairly low turnout, it was the centrist candidate Macron who was victorious. However it was always going to be the market reaction that we cared about rather […]

A trio of unexpectedly upbeat UK economic reports for the services, manufacturing and construction sectors left the pound pretty upbeat as markets closed for the weekend and Sterling remains close to multi-month highs. The GBP/EUR exchange rate begins this week at €1.1827 (up from this morning’s low of €1.1786), GBP/USD remains above $1.2950, GBP/AUD is […]

The USD/JPY went upwards last week, testing the supply level at 113.00. The supply level would be tested again and possibly breached to the upside, as price targets other supply level at 113.50 and 114.00. On the other hand, there is also a possibility of a bearish correction this week or next, which could threaten […]