Foreign Exchange

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 […]

EURUSD Price Analysis – December 30 The EURUSD pair spiked to the highest level since mid-August at the price level of 1.1211 and entered the consolidation phase. At the time of writing, the pair was ranging near the price level of 1.1200, adding 0.2% per day. Key Levels Resistance Levels: 1.1515, 1.1450, 1.1280 Support Levels: […]

USDCHF Price Analysis – December 24 The USDCHF pair recorded a small daily gain on Monday and entered the consolidation phase on Tuesday, as the markets seem to be already in a festive mood. At the time of writing, the pair remained unchanged at 0.9817 level. Key Levels Resistance Levels: 1.0231, 1.0027, 0.9876 Support Levels: […]

With USD/CHF on the cusp of a bearish engulfing month, we take a look at the pattern’s forward returns alongside the Swiss franc’s seasonality.   Unless USD/CHF can close above 0.9864 by the end of the year, its on track to close December with a bearish engulfing candle. It’s by no means a not a […]