Foreign Exchange

Although the pound failed to recover losses against the euro on Tuesday, the currency did manage to return to multi-month highs against the US, Australian, Canadian and New Zealand dollars. GBP/EUR spent most of the day below the €1.1750 level, GBP/USD rallied from $1.2803 to $1.2843, GBP/AUD advanced to AU$1.7105 (close to 2017 highs), GBP/NZD […]

The euro started the week strongly, but the same couldn’t be said for the pound. After spending most of last week holding multi-month highs, Sterling dropped against the euro and put on a mixed performance against several of the other major currencies. GBP/EUR brushed a low of €1.1771 and closed the day at €1.1757, GBP/USD […]

The EUR/USD went upwards last week, reaching the resistance line at 1.0750. The upwards movement was not significant enough to bring about a Bullish Confirmation Pattern in the market, unless the resistance line at 1.0800 is breached to the upside. The bearish correction that was experienced on Friday may bring good opportunities to go long […]

Here’s the market outlook for the week: EURUSD Dominant bias: Bearish This pair trended upwards last week, briefly went above the resistance line at 1.0750, and then retraced southwards. There are support lines at 0.0700 and 0.0650, which may attempt to impede any bearish attempts this week. The bearishness in the market still holds, until […]

After an explosive start to the week pound fluctuations have been fairly minimal, with the currency managing to hold on to the multi-month highs achieved after Tuesday’s election announcement. GBP/EUR began the week around €1.1790 and looks set to close it above €1.19, GBP/USD is up from $1.25 to $1.28, GBP/AUD is riding high at […]

The pound racked up serious gains earlier in the week and has (so far) largely managed to hold on to them. The GBP/EUR exchange rate remains above the €1.19 level, GBP/USD is clinging to six-month highs of $1.28 and GBP/CAD advanced from C$1.7199 to C$1.7285. However, GBP/AUD eased back from A$1.7100 to A$1.7020 while GBP/NZD […]

“Come with me and we’ll write that brighter future. Come with me and we’ll make that change. Come with me as we rise to meet this moment. Come with me and together let’s seize the day.” Lyrics from the first platinum single by Backstreet Boys / One Direction / a.n.o.t.h.e.r boy band? (delete as appropriate). […]

We thought this week would be a fairly quiet one in the world of currency… how wrong we were. UK Prime Minister Theresa May delivered a major bombshell on Tuesday morning when she announced the intention to hold a snap election on June 8th. The news sent shockwaves through the currency market and sent the […]

With demand for higher-risk currencies dropping in reaction to growing geopolitical tensions, the pound was able to hit new highs against currencies like the euro and US dollar. The GBP/EUR exchange rate advanced to €1.1821 – it’s highest levels since February – while GBP/USD approached $1.26. GBP/AUD stormed 0.7% higher as soon as markets opened […]

The EUR/JPY dropped 270 pips last week – having dropped roughly 730 pips since March 13, 2017. Our targets for last week were exceeded, as price closed below the supply zone at 115.50, aiming at the demand zone at 115.00. The targets for the next several trading days are located at the demand zones at […]