Foreign Exchange

GOLD (XAUUSD) Dominant Bias: Bullish Gold trended upwards in January and February 2017. Price topped at 1263.61 on February 27 and then began to pull back. The pullback is significant, (about 4,600-pip movement to the south), but it is not strong enough to override the extant bullish outlook on the market, unless price pulls back […]

The EUR/JPY moved up by 270 pips last week, closing above the demand zone at 121.00. There is a strong Bullish Confirmation Pattern in the 4-hour chart, and further upwards movement is expected this month, which would take price towards the supply zones at 121.50, 122.00 and 122.50. Super Trading Strategies: http://www.advfnbooks.com/books/supertradingstrategies/index.html EUR/USD: This market...

Here’s the market outlook for the week: EURUSD Dominant bias: Bearish EURUSD went downwards last week, tested the support line at 1.0500, and then rallied significantly on Friday. Actually, the Friday rally might end up being a good opportunity to sell short at better prices (unless the resistance line at 1.0700 is breached to the […]

The market’s appetite for US dollars seems to be insatiable and influenced how all other currencies move. Sterling was no exception as dealers seem to back a second interest rise in the US. Lael Brainard, a rate-setter at the Fed and usually considered a dove hinted that a rate hike is “appropriate soon”, which in […]

Theresa May will be licking her wounds this morning, as the House of Lords voted against changes to Article 50 Bill. The same Bill had passed through the House of Commons with little restrain, which had been expected to happen this time also. Theresa May, may now need a plan B for triggering Article 50 […]

Historically, the movement on PayPal shares (NASDAQ:PYPL) has been choppy, but the overall movement has been bullish. The current price action shows the bullishness in the market. In the past several months, the market has been quite choppy but bullish. 4 EMAs are used for this analysis, and they are EMAs 10, 20, 50 and […]

This morning, the green back is slightly weaker on the pound as the markets have reacted to Donald Trump’s congress speech. This reaction was fairly limited and markets are instead focusing on significantly higher risks of a rate rise by the Fed at the 14-15 March meeting, especially after the comments from New York Fed […]

Tonight Donald Trump will be addressing Congress and this will attract the attention of the markets, as previously Trump has promised to announce “something phenomenal” in relation to tax. Tonight we may find out some of the detail on the tax plans and this could lead to volatility in the USD. Looking further ahead it […]

The EUR/JPY dived by over 180 pips last week, closing below the supply zone at 118.50 on Friday. There is a clean Bullish Confirmation Pattern in the 4-hour chart, and further dive is possible this week, which may take price towards the demand zones at 118.00, 117.50 and 116.50. EUR/USD: The EUR/USD is in a […]

Last week, Sterling fought to regain some fairly modest ground against the majors whereas; political uncertainties in the Eurozone thanks to upcoming elections and Trump’s fiscal policies severely damaged the euro and dollar respectively. Markets haven’t completely forgotten about Brexit though as it looks like Sterling could take an impact this week due to the […]