Category Archive: 4) FX Trends
GBPJPY Technical Analysis
Here's a quick technical analysis on the GBPJPY with some fundamental background.
For more visit ForexLive.com
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What Happened Today
The US dollar was mostly softer. The
New Zealand dollar was the strongest (~0.85%) helped by cross rate gains
against the Australian dollar, following the RBA’s decision to stand pat. The
Australian dollar fell to one-month lows below NZD1.08. There is scope for
another 0.5%, or so to the next target near NZD1.0750. The RBA’s decision to
leave its cash target at 4.10% was not surprising, and despite the hawkish
rhetoric, the market downgraded the...
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EURUSD Technical Analysis
Here's a quick technical analysis on EURUSD with some fundamental background.
For more visit ForexLive.com
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AUDUSD traders using moving averages to define boundaries today
200 hour moving average, 200 day moving average, and 100 day moving average all tested on the topside. The 100 hour MA (and swing area) stalled the fall.
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What is key technically for the USDJPY as the new week begins
A key level on the USDJPY held support on Friday and earlier today. The technical level will be a key barometer at the start of the trading week.
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EURUSD bias tilts marginally in the sellers favor to start the trading week
The EURUSD is trading with a small negative bias in the short term to start the new trading week. The pair is trading below the 100/200 hour MAs today, giving the sellers the advantage. It will take a move above to tilt the bias more to the upside.
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The Greenback Starts H2 on a Firm Note
Overview: The dollar is recovering from the
month-end losses seen at the end of last week. Only the New Zealand dollar
among the G10 currencies is holding its own. Japanese reports indicate that Tokyo
is in contact with the US Treasury about intervention, which is injecting a
note of caution as the greenback holds below JPY145.00. Chinese officials also
appear to be stepping up their efforts to stabilize the yuan. Among emerging
market currencies,...
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S&P 500 Technical Analysis
Here's a quick technical analysis on the S&P 500 with some fundamental background.
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July 2023 Monthly
Price pressures
remain elevated but economic momentum slowed as Q2 wound down. Many market
participants think this poses a dilemma for policymakers and are skeptical that
the hikes signaled will be delivered because of economic weakness or financial
strains. These developments are thought to limit the tightening cycle before
the inflation genie can be stuffed back into the bottle.Yet, this may underestimate the resolve of most of the
major central...
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Market Continues to Converge With Fed’s Forward Guidance
Overview: A key development in recent days has been
the market's convergence with the Federal Reserve's forward guidance regarding
scope for two quarter-point hikes in the second half. The US two-yield is up
about six basis points today, extending yesterday's 15 bp increase. It is
approaching 5%. The Fed funds futures strip implies one hike has been fully
priced in and about a third of the next one. The dollar has risen against all
the G10...
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GBPUSD Technical Analysis
Here's a quick technical analysis on GBPUSD with some fundamental background.
For more visit ForexLive.com
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EURUSD sellers test the 38.2% target at 1.0867. What next?
The sellers are working the price lower...and back down to key retracement level. Can the sellers keep the momentum going now?
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