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News
April 92020
AUD/NZD Facing the Weekly Resistance of 1.0361
The Australian dollar versus the New Zealand dollar currency pair is at the old weekly support of 1.0361. Will the bulls conquer it again? Long-term perspective The descending movement that started after 1.0837 was confirmed as resistance extended to as low as 0.9993, but, after confirming the weekly support of 1.0037, a strong rally began, one that now puts to the test the double resistance made possible by the 1.0361 level and the trendline that starts […]
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April 82020
Pound Rallies as PM Johnson Still in ICU; UK COVID-19 Deaths Rise
The Sterling pound today rallied for the third straight session against the US dollar amid hope that Boris Johnson was recovering despite rising COVID-19 deaths in the UK. The GBP/USD currency pair posted gains as investors reacted calmly to rising coronavirus deaths in the UK and the risk posed by the pandemic to the British economy. The GBP/USD currency pair today rallied from an Asian session low of 1.2288 to a high of 1.2419 in the American session and was near […]
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April 82020
Chinese Yuan Weakens As Officials Weigh Additional Fiscal, Monetary Stimulus
The Chinese yuan is weakening midweek as a new report suggests officials are considering additional fiscal and monetary stimulus to rejuvenate the post-coronavirus economy. As the country gradually returns to normal and even ends the lockdown in Wuhan, authorities are discussing a wide range of options. Over fears of a second wave, China could serve as a case study for the rest of the world in what to do after COVID-19. According to Reuters, the Peopleâs Bank of China (PBoC) is anticipated […]
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April 82020
Importance of risk management in Forex trading
The Forex market contains many different aspects and factors which are necessary for traders to know about. You need to know about the aspects to make profits in the trades, without understanding the market properly you won’t be able to make profits. Likewise, risk management plays a crucial role in the market you need to […]
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April 82020
AUD/CAD Might Be Ready to Break the Trendline
The Australian dollar versus the Canadian dollar currency pair got very close to an area that may decide the very fate of the pair for the medium-term, if not for the long-term? Long-term perspective The depreciation that started from the peak of 0.9149, after the confirmation of the 0.9093 level las resistance, extended all the way to 0.8062 low. After a sharp retracement, the price started an ascending and very volatile movement. Even if it appears that the high […]
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April 72020
Euro Rallies on Hopes That Europe Is Flattening the COVID-19 Curve
The euro today rallied against the US dollar buoyed by the latter’s decline as investors favoured riskier currencies including the single currency. The EUR/USD currency pair hit new 3-day highs ending the downtrend that was in place for the past six sessions. The EUR/USD currency pair today rallied from an opening low of 1.0790 to a high of 1.0925 in the American session but had pulled back slightly from its daily highs at the time of writing. […]
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April 72020
Pound Rallies Despite Record COVID-19 Deaths and Johnson in ICU
The Sterling pound today rallied higher against the US dollar despite the fact that the UK Prime Minister Boris Johnson being hospitalised in ICU. The GBP/USD currency pair posted gains as buyers stepped in capitalising on the greenback’s fall from recent highs. The GBP/USD currency pair today rallied from an opening low of 1.2217 in the Asian session to a high of 1.2384 in the mid-London session but was off these highs at the time of writing. The risk-off […]
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April 72020
Swiss Franc Slips As SNBâs Total Sight Deposits Surge Again
The Swiss franc is sliding against the US dollar and the euro on Tuesday as the central bankâs sight deposit holdings surged by their second-highest level in 12 months. For more than a year, Switzerland has been actively trying to depreciate the francâs value as investors continue to pour into the traditional safe-haven asset, even as financial markets rebound. The Swiss franc has significantly appreciated throughout the turbulence, affecting the manufacturing sector and overall exporting industry. […]
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April 72020
Bulls Still Aiming for 1.7811 on GBP/CAD?
The Great Britain pound versus the Canadian dollar currency pair sits in an interesting zone. Is this area a good starting ground for the bulls, or is it already too late for them? Long-term perspective The appreciation that started at the 1.6620 level extended all the way to the long-time resistance area of 1.7811. But it retraced from there, slipping under the intermediary level of 1.7499. The price is now sitting just above the possible […]
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April 62020
Japanese Yen Weakens As Abe Unveils $1 Trillion Stimulus Package
The Japanese yen is losing against multiple currency pairs to start the trading week, prompted by Tokyo unveiling a massive $1 trillion stimulus package to curb the economic fallout from COVID-19. While Japan has refused to institute a nationwide lockdown, Prime Minister Japanese yen declared a state of emergency to prevent coronavirus infections â domestic cases have topped 4,000. Can the worldâs third-largest economy come out of the public health […]
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