Category Archive: 4) FX Trends
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.
For more visit ForexLive.com
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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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EURUSD bounces and tests a key short term resistance. Can the sellers stall the rally?
The swing area between 1.0886 and 1.0896 is being tested. Key short term barometer for the EURUSD pair.
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USDCAD buyers trying to push higher but fail at topside resistance target
The USDCAD moved above the 200-hour MA yesterday but stalled in a swing area target between 1.3271 to 1.32853.
Today, the buyers pushed against that target again on two separate occasions and stalled on both tries. That helps to neutralize the buyer's bias. What next for the pair?
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USDJPY overbought but buyers are still in control
Trending markets can get overbought and stay overbought. That is the case with the USDJPY. It has been up 6 of the last 7 days (and up strongly in June), and the RSI on the daily is overbought, but trending markets can get overbought and overbought and overbought.
Having said that the pair has a topside channel trend line along that could be a level to lean against. Also the low of a swing area on the daily chart. Both are near the 145.00 area....
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GBPUSD falls to support target at 1.2599. Can the price move below the target?
The better claims and GDP sends the USD higher and the GBPUSD lower. The price low has moved down to a downside target at 1.2599 (call it 1.2600). A move below that level is needed to increase the bearish bias technically today.
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