Jun 21 2019 @ 02:36
With a long-term trendline broken and bears clearly back in control, the inflection point for the year has likely been seen. Just under two weeks ago, we outlined a case for USD/CAD to challenge long held views and perform a bearish reversal. At the time, it was resting precariously on its 2018 trendline, although the […]
Jun 18 2019 @ 03:55
We’ve been patiently monitoring corrective price action on USD/JPY in hope of it confirming a swing high. With an FOMC meeting on tap, the meeting could spark the volatility required to make or break the bearish bias. We can see on the daily chart the USD/JPY has had a decent relationship with the 50% […]
Jun 17 2019 @ 04:19
EUR/USD Plunges Back Within Range Ahead Of Fed Stronger-than expected retail sales from the US saw EUR/USD break key support amid its most bearish session in seven weeks. This places it firmly back within range, where traders could look to fade into rallied below the 1.1265 area and target the 1.1100 lows. However, given 1.1100 […]
Jun 16 2019 @ 05:54
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Jun 13 2019 @ 03:30
GBP/USD is struggling to breach a strong resistance cluster. Given its bearish trend, we’re keeping a close eye out for a break lower. A retracement from the June low has stalled at a resistance zone The resistance zone between 1.2750 – 1.2773 comprises of the February low, a recent swing high and a 78.6% Fibonacci […]
Jun 13 2019 @ 03:24
AUD/JPY Falls On Risk Aversion And Data Miss Trump has opted to keep the $325 billion tariff on Chinese goods ‘open’, ahead of the G20 meeting, and says he expects to meet Xi this month. It’s also been reported Trump is to meet President Abe ahead of the G20 meeting. Trade tensions weighed on markets […]
Jun 13 2019 @ 03:21
AU Unemployment Miss Data Drives The Aussie Lower Unemployment may have remained steady, but it’s not on track for RBA’s target, which is seeing a rise in calls for RBA to cut in July. Today was really all about the unemployment rate, which remained steady at 5.2% but missed expectations to fall to 5.1%. Were […]
Jun 12 2019 @ 03:18
With the recent bouts of risk-off sentiment along with political woes and Brexit concerns for the UK, it’s no major surprise to see GBP/JPY under such heavy selling pressure. And, as noted in Monday’s COT report, the British pound has seen a pickup of short bets and closure of longs, whilst traders are now the […]
Jun 12 2019 @ 03:15
Tomorrow’s employment set could prove to be a volatile affair for Australian markets, as it could be seen as a proxy for how soon or how many times RBA are to cut in this cycle, depending on the unemployment rate. RBA cut rates to a historical low at their June meeting and, whilst the statement […]
Jun 11 2019 @ 02:55
Near the end of April we flagged that NZD/CAD could be on the verge of a major breakdown. Recent price action remains constructive of that view. Unsurprisingly, commodity currencies have felt the heat throughout the trade war. However, other factors have been at play to weigh on AUD, CAD and NZD with varying degrees such as […]
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