Forex

GBP/USD’s rise from 1.2036 resumed last week and edged higher to 1.2793. But with subsequent retreat, initial bias stays neutral this week for consolidations first. Outlook will stay bullish as long as 1.2499 support holds. On the upside, break of 1.2793 will resume the rally to 61.8% projection of 1.2068 to 1.2731 from 1.2499 at

Despite much volatility last week, USD/JPY’s fall from 151.89 is still in progress. But as a temporary low was formed at 140.94, initial bias is neutral this week first for consolidations. Upside should be limited well below 146.58 resistance to bring another decline. Break of 140.94 will target next fibonacci level at 136.63. In the

EUR/USD rose to 1.1008 last week but failed to break through 1.1016 resistance and retreated. Initial bias remains neutral this week first. Further rally is expected as long as 1.0722 support holds. Break of 1.1016 will resume the whole rise from 1.0447 to retest 1.1274 high. In the bigger picture, price actions from 1.1274 are

USD/CAD’s fall from 1.3897 resumed and accelerated lower last week, closing below 1.3378 support. The development argues that whole rise from 1.3091 has completed at 1.3897 already. Initial bias stays on the downside this week. Sustained trading below 1.3378 will bring deeper fall to 1.3091 support next. For now, risk will stay on the downside

Inflation data from the US supported investor expectations of looming rate cuts. Powell said that the rate hike cycle was likely at an end. Economists do not foresee any changes at the upcoming BOJ meeting. In the USD/JPY weekly forecast, the winds of change are steering towards a bearish outlook. This trend comes as the

Inflation reports from the US showed further easing, supporting a Fed pivot. Policymakers were dovish at the Fed meeting on Wednesday, signaling an end to rate hikes. The BOE held its hawkish tone, stating that inflation was still concerning. The GBP/USD weekly forecast shows a bullish trajectory. The narrative unfolds with the Bank of England

Explore Ripple’s groundbreaking foray into the global FX market through Project Mariana, a collaboration with BIS. Stay informed with DailyCoin. Source link

Share: USD/JPY is down almost 2% from Monday’s opening bids. A pivot from the Fed saw the US Dollar decline sharply across the broader forex market. Next week pits the BoJ’s last rate call of the year against US GDP & PCE figures. The USD/JPY wrapped up the trading week struggling to develop

This article is contributed to us by Kelvin Wong, Senior Market Analyst at OANDA Asia Pacific Pte. Ltd. The global foreign exchange (FX) market, the largest financial market in the world by trading volume, exerts a significant influence on global economic activity. Forex, or foreign exchange, is a dynamic marketplace where buyers and sellers engage

Daily Pivots: (S1) 1.2653; (P) 1.2724; (R1) 1.2835; More… Intraday bias in GBP/USD is turned neutral with current retreat. Some consolidations would be seen but outlook will stay bullish as long as 1.2499 support holds. On the upside, break of 1.2793 will resume the rally from 1.2036. Next target is 61.8% projection of 1.2068 to

Daily Pivots: (S1) 0.8627; (P) 0.8680; (R1) 0.8728; More…. Intraday bias in USD/CHF remains mildly on the downside for the moment. Current decline from 0.9243 should extend to target 0.8551 key support level. For now, near term outlook will stay bearish as long as 0.8819 resistance holds, in case of recovery. In the bigger picture,

US November Services and Manufacturing PMIs from S&P Global November services PMI from S&P Global 51.3 points vs 50.6 expected October services PMI was 49.4 points Manufacturing 48.2 points vs 49.3 points expected (prior was 49.8 points) Composite index 51.0 points vs 50.7 points prior Cost pressures gained momentum as input prices […] Source link

Today’s PMIs marked the end of a busy week. They would either confirm or challenge yesterday’s ECB en BoE case for signaling steady rates for the foreseeable future. It turned out to be the latter for Frankfurt, triggering Bund outperformance vs US Treasuries. Source link

EUR/USD Forecast – Prices, Charts, and Analysis Euro Area business activity remains weak. EUR/USD fails its first re-test of 1.1000 Recommended by Nick Cawley Recommended by Nick Cawley FX Trading Starter Pack Most Read: ECB Keep Rates Steady with Tentative Inflation Downgrades, EUR/USD Rises The Euro Area economy continues to struggle and is set to

The market is likely to keep moving higher in the coming days, but there will eventually be some profit-taking, which could be quite sharp.  The S&P 500 had a small rally during Thursday’s trading session, and it seems like the loose monetary policy of the Federal Reserve will continue to be a major factor. However,

Daily Pivots: (S1) 179.23; (P) 180.22; (R1) 182.10; More… GBP/JPY recovered after dipping to 178.32 and intraday bias is turned neutral first. Deeper decline is expected as long as 184.30 resistance holds. Break of 178.32 will resume the whole decline from 188.63. Sustained break of 178.02 will pave the way to 38.2% retracement of 148.93

DXY: The DXY (US Dollar Index) chart currently shows an overall bearish momentum, indicating a potential for price to make a bearish continuation towards the 1st support. The 1st support level at 101.46 is identified as an overlap support that aligns with a confluence of Fibonacci levels i.e. the 161.80% extension and the 61.80% projection

In the early Asian session on Friday, the EUR/USD pair is experiencing a surge of momentum, approaching the key 1.1000 level. Source link

GBPAUD reversed from support level 1.8945 Likely to rise to resistance level 1.9200 GBPAUD currency pair recently reversed up from the strong support level 1.8945 (which has been repeatedly reversing the pair from the start of July) intersecting with the lower daily Bollinger Band. The support level 1.8945 was strengthened by the 38.2% Fibonacci correction

Skerdian Meta Lead Analyst Skerdian Meta Lead Analyst. Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank’s local branch, Aksioner. Skerdian specialized in experimenting with