Currency

With a bearish structure on the weekly chart and potential H&S top on the daily, we’re looking for an eventual breakdown. We can see on the weekly chart that GBP/CHF remains in a long-term bearish trend. There have also been four failed attempts to break above the 200-week eMA, with the most recent attempt being […]

It’s been a turbulent session, but that’s not to say risk cannot pick itself back up from here. If Trump allows. It was clearly a game of two halves for traders, with risk-off dominating the first half upon news of Iran attacking US bases in Iraq. Yet fears subsided and markets reversed course when it was confirmed […]

The British pound sterling. It is a currency that has been the topic of many a lively conversation amongst investors over the last few years. With the UK about to leave the European Union in early 2020 (if, Boris Johnson gets his way and implements the result of the 2016 referendum), the pound has been […]

AUD/NZD Considers Bearish Breakout After a month confined to a range, AUD/NZD could be building up towards another leg lower. The decline from 1.0865 came hard and fast, shedding over -4.4% in five weeks. That there were no pullbacks apparent on the daily timeframe serves as a testament to the strength of its decline. Sure, it’s […]

Market Brief: US Troops To Remain In Iraq FX Brief: The US denied reports that they were preparing to remove their troops from Iraq, after an unsigned letter was leaked online suggesting the US were doing just that. The top US general later told reporters the letter was “poorly worded” and that they’re not withdrawing […]

Yen Demand Subsides And Key Levels Hold (For Now) Tension in the Middle East have mostly dominated sentiment since Friday. However, the US session saw a mild rebound in risk and equities shrug off concerns with the lack of any further escalation. Going into the session it was noted several yen pairs were at key levels of support, […]

USD/JPY Holds Support Despite Rise In Geopolitical Tensions As noted earlier, there were some impressive gaps at this week’s open for gold, WTI and S&P futures after a slew of headlines over the weekend saw tensions in the Middle East escalate further. Yet it’s worth noting that the gap didn’t make it over to USD/JPY, despite […]

Whilst the dollar’s bounce could extend further, bears are likely to seek opportunities to fade into the current rally. Needs less to say, the USD had a terrible December in line with its seasonal tendency. Yet prices are undergoing a much-needed correction after such a volatile move. The question now becomes as to whether it […]

Just before Christmas we highlighted two potential patterns developing on AUD/USD. It didn’t take too long to confirm which one had the upper hand. Come boxing day AUD/USD closed to its highest level since July. And it didn’t stop there, rallying another 90 pips to take the Aussie back above 70c. Whilst the weaker USD […]

Assuming we don’t see a repeat of January 2019’s yen flash-crash, we’re looking for these pairs to extend their bullish trends. It was one year tomorrow that JPY pairs exhibited extreme volatility in a low liquidity environment. Given that Japanese exchanges will remain closed until Monday, liquidity is expected to remain low for the remainder […]