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- December 11, 2020 USD/JPY 104.57 High Starting a New Bearish Leg?
News
October 62020
GBP/USD Back to the 1.3000 Level
The Great Britain pound versus the US dollar currency pair sits just under the 1.3000 psychological level. Where to from here? Long-term perspective The trend that started at the 1.2092 support, after the 1.2075 low was printed, managed to appreciate a hair away from 1.3502. However, as the retracement from 1.3502 failed to find support at 1.3261, the price fell beneath the triple resistance defined by 1.3261, the descending trendline, and the upper line of the ascending […]
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October 52020
Chinese Yuan Flat After Having Best Quarter in a Decade
The Chinese yuan is trading flat against the US dollar, but it has topped 8.0 against the euro to kick off the trading week. The yuan is coming off its best quarter in more than a decade as analysts warn think the yuan could become the next safe-haven currency amid volatility. Can the yuan test 6.6 in the final quarter of 2020? The broader financial market has been surprised by the yuan’s appreciation […]
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October 52020
AUD/USD Under 0.7191. Have the Bulls Met Resistance?
The Australian versus the US dollar currency pair slipped under the 0.7193 level and looks like it has difficulties in regaining it. Could this be a bearish sign? Long-term perspective The appreciation that started from the 0.5701 low advanced until the 0.7413 high. However, after falling beneath 0.7320, the price began a descending movement, as the bullish attempt to validate 0.7191 as support failed. The bullish missed effort left the bears with […]
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October 22020
Euro Falls Against Dollar on Risk-Off Mood, Non-Farm Payrolls
The euro today fell against the dollar reversing all of yesterday’s gains driven by the risk-off market sentiment after US President Donald Trump tested positive for COVID-19. The EUR/USD currency pair’s decline was further fueled by the weak inflation data from the euro area, which could derail the bloc’s economic recovery. The EUR/USD currency pair today fell from an opening high of 1.1744 in the Australian market to a low of 1.1696 shortly after […]
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October 22020
Sterling Pound Rallies As Boris Johnson Acts to Save Brexit Talks
The Sterling pound today rallied against the dollar after the British Prime Minister intervened to try and save the Brexit talks, which seem to be falling apart. The GBP/USD today rallied higher despite the lack of macro releases from the UK docket as the positive Brexit developments boosted investor sentiment towards the pound. The GBP/USD currency pair today rallied from a low of 1.2836 in the mid-Asian session to a high of 1.2953 during the London session and was […]
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October 22020
US Dollar Rises Amid September Jobs Report, Trump Testing Positive for COVID-19
The US dollar is holding its gains to finish the trading week as investors get spooked by a worse-than-expected September jobs report. But the main headline maker is that President Donald Trump and the First Lady tested positive for COVID-19. This was the curveball tossed into the broader financial market with a month to go until the 2020 election. How will the buck react in the coming days? According to the Bureau of Labor Statistics (BLS), […]
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October 22020
Possible Leg Down on USD/JPY from the 105.80 High?
The US dollar versus the Japanese yen currency pair seems to be lacking traction to reach 106.12. Are the bears just around the corner? Long-term perspective The depreciation from the 111.71 high lead to a more or less sideways movement which, from the 109.85 lower high, ebbed and crafted the low of 104.18. From the 104.18 low, a new side sideways movement started, one contained by the 107.00 and 105.09 levels, respectively. After the support was […]
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October 12020
Euro Rallies Against Dollar on Elevated Sentiment, Falls Then Rises
The euro today rallied against the US dollar twice followed by quick retracements despite the upbeat investor risk appetite that boosted risk assets. The EUR/USD currency pair today rallied then gave up all its gains before rallying again as the bulls and bears fought for control amid mixed euro area macro prints. The EUR/USD currency pair today rallied from a low of 1.1717 in the Australian market to a high of 1.1770 […]
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October 12020
US Dollar Weakens As Jobless Claims Slide to Six-Month Low, Consumer Spending Jumps
The US dollar is kicking off October lower as the number of Americans filing for first-time unemployment benefits fell to a six-month low and consumers continued to show some signs of life in August. Still, the greenback is poised for a noteworthy weekly gain against many of its major currency rivals, buoyed by uncertainty in the broader financial markets. According to the Department of Labor, initial jobless claims increased by 837,000 in the week ending September 26, coming in below […]
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October 12020
GBP/CAD Peaking at 1.7294?
The Great Britain pound versus the Canadian dollar currency pair seems to be having a hard time while attempting to conquer 1.7285. Long-term perspective The appreciation that came into being after the double bottom defined by the 1.6705 and 1.6769 lows, respectively, played its part was limited by the 1.6567 firm resistance area, which encouraged the bears to start a fall that would later stop at the zone of the mentioned lows, printing the 1.6810 […]
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