Currency

Renewed trade optimism and strong earnings from the US on Friday has seen Asia shares break broadly higher today, with the Nikkei 225 trading at its highest level since early December. We can see on the Nikkei 225 futures market that the trend structure is increasingly bullish, and today’s range expansion shows the index accelerating […]

A summary of the weekly Commitment of Traders Report (COT) from CFTC to show market positioning among large speculators. EUR traders extended their net-short exposure to their most bearish level since December 2016 Traders continue to bet on low volatility, with the VIX net-short exposure at its most bearish level since WTI net-long exposure its […]

XRPUSD Long-term Trend – Bearish   • Distribution territories: $0.45, $0.50, $0.55 • Accumulation territories: $0.25, $0.20, $0.15   Roughly a week ago, XRP’s price was going down after it failed to break through the $0.40 mark during its bull run. Recently, the cryptocurrency traded at little over $0.35 for a few days, it has […]

If the DAX can hold current support levels before breaking to new cycle highs, it could reaffirm the strength of its bullish channel. The DAX has seen some large swings around the 200-day eMA, although a decent trend structure is emerging within a bullish channel on the daily chart. Prices are consolidating near 6-month highs […]

Around 1am London, EUR/USD spiked higher and, upon closer inspection saw the bid for Euro was broadly based. This leaves a potential bullish breakout on the cards for UK or US trading session ahead of the weekend. Whilst the driver is currently unknown, it may be related to Jerome Powell reportedly asserting “Fed independence” at […]

Since early February, AUD/JPY has moved sideways in a 240-pip range. We highlighted its potential to roll over from its highs on Monday and, whilst that potential still remains, we have to be open to the potential for a bullish breakout too. Since the prior analysis, the intraday double top failed to materialise, as prices […]

The EU granted the UK’s flextension until 31st October, four-month longer than PM May requested. Yet whilst today’s ‘meh’ reaction points towards Brexit fatigue, the coiling nature of GBP suggests volatility could be brewing. As Matt Weller pointed out just yesterday, it was more a question of how long an extension would be over whether […]

BTCUSD Medium-term Trend: Bullish   • Resistance levels: $7,000, $7,200, $7,400 • Support levels: $5,000, $4,800, $4,600   Yesterday, April 9, the price of Bitcoin was in a bearish trend. The price fall was as a result of the $5,300 resistance level. The bulls could not make further progress as a result of this hurdle. […]

The bullish wedge on AUD/NZD continues to play out nicely, having reached a 10-week high as of yesterday. But the trend may be in need of a pause, before further gains materialise. If successful, the bullish wedge targets the 106.37 highs. Whilst some may prefer not to label it a wedge due to the prominent […]

Once only big institutions such as banks could trade foreign exchange (forex) but now there are many brokers that offer forex trading to private traders. It is an attractive trading instrument for people looking for liquid assets and markets. There are many brokers available, offering different currency trading pairs, so when you choose a forex […]