FX

Accumulation is taking place in EUR/GBP below the bearish 50 EMA channel.  EUR/GBP bulls seeking a test of the M-formation’s neckline.  The following is an analysis of EUR/GBP that illustrates a bullish hypothetical scenario based on price behaviour, chart patterns and market structure.  EUR/GBP daily chart The M-formation is a bullish reversion chart pattern and

EUR/CHF has failed at the 200-day moving average (DMA) at 1.0898. Now, the pair is set to move downward as low as the 1.0629 November low, in the view of Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank. Negative below the 1.0941 2008-2021 downtrend “EUR/CHF last week failed at its 200-DMA at 1.0898.

US Stocks Technical Analysis Elliott Wave Forecast overview: Markets are very close to the top of Intermediate Wave (3) top caution is required over the week ahead. Elliott Wave Analysis Wave Count:Amazon AMZN  Elliott Wave v of (v).Alphabet GOOGL  Elliott Wave (v) of v) of 5 of (3).Apple AAPL  Elliott Wave v) of 5 of

GBP/USD Weekly Forecast: Range bound with an eye on the BOE Weak July GDP data restrains sterling and rate hike expectations. GBP/USD finishes the week on par and at the middle of three-month range. Sterling’s recovery on Thursday and Friday ended, temporarily, the threat of the GBP/USD breaking below 1.3765 support and entering the lowest

Gold breaks beneath $1,800, bears target $1,700. US 10-year Treasury yields rise, underpinning demand for the US dollar. Fed speakers in the week agree on prospects of bond tapering this year. Gold edges lower during the New York session, trading at $1,789.08 down 0.30% at the time of writing. Meanwhile, the US 10-year Treasury yields, which

Previewing next week’s key data releases from the US, TD Securities analysts said that food and energy prices probably rose fairly strongly again in August but added that the Core CPI likely rose at its slowest pace since February. Key quotes “Rents probably rose solidly again, but used vehicle prices, which have been surging, likely declined.

USD/CNH prints three-day downtrend, bears attack weekly bottom. Descending RSI line, not oversold, joins SMA breakdown to back the sellers. Convergence of six-week-old support line, 61.8% Fibonacci retracement becomes a tough nut to crack for bears. USD/CNH takes offers around 6.4400, down 0.17% intraday during the three-day fall ahead of Friday’s European session. In doing

As expected, the European Central Bank (ECB) kept its key interest rates unchanged and announced a slow down in the pandemic purchase program from the fourth quarter. According to analysts from Danske Bank, the current rise in inflation is still seen as largely temporary by the ECB. They largely share with the central bank the cautiously

Indonesia’s Retail Sales fell by 2.9% on the year in July vs. a 2.5% increase seen in June, the latest survey conducted by Bank Indonesia (BI), the Indonesian central bank, released on Thursday. The retail volume was reported when Indonesia was at peak of another coronavirus wave. more to come …

The 55-week moving average at 1833 has capped the gold price rally. Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, expects the yellow metal to suffer further slippage. See – Gold Price Forecast: XAU/USD to hit $1871 on erosion of August highs at $1834 – Credit Suisse The 55-week ma has provoked initial failure

EUR/USD fades corrective pullback after two-day fall, sellers attack intraday low of late. Cautious mood ahead of the ECB, covid woes keep bears hopeful. DXY ignores pullback of US Treasury yields from two-month top, stock futures stay mildly bid. Coronavirus updates, stimulus news and Fedspeak can entertain traders but all eyes on ECB’s tapering decision.

Silver struggled to capitalize on last week’s bullish breakout momentum through a trading range. The formation of an ascending trend channel supports prospects for additional near-term gains. The emergence of dip-buying adds credence to the positive outlook and favours bullish traders. Silver attracted some buying near the $24.20 resistance breakpoint and has now trimmed a

USD/CAD retreats to 1.2520 session low, as the US dollar index eases. Magnitude 6.5 earthquake hits Canada, no tsunami alert. Markets eye BoC Interest Rate Decision on Wednesday. USD/CAD is trading around the 1.2520 mark, as the US dollar index (DXY) drags lower toward 92.10 at the time of writing. The US benchmark index S&P

Irish deputy prime minister Leo Varadkar said on Monday that they are expecting the UK to announce an extension of the Northern Ireland import grace periods and the UK customs controls on EU imports, Reuters reported, citing Irish state broadcaster RTE. Varadkar further added that the European Commission is expected to note the decision and reiterated

Victoria’s daily coronavirus numbers arrived earlier which shows that the state has recorded 246 new, locally acquired cases of coronavirus and zero in hotel quarantine. ”That figure is up from yesterday’s 183 local cases and the highest number of daily cases in more than a year. The Department of Health says of today’s 246 cases,

GBP/USD prints fresh two-week highs above 1.3870 as the US dollar remains weak Pound prints fresh highs across the board during the American session. US dollar consolidates post NFP losses, even as US yields rise sharply. GBP/USD up for the third day in a row, gains a hundred pips from a week ago. The GBP/USD

The Korean won depreciated by 1.6% against the US dollar in August, making a cumulative 8% year-to-date depreciation. A positive is that the pace of vaccination has been accelerating lately, which is set to boost KRW in the medium-term, according to strategists at MUFG Bank. Progress in vaccination will boost KRW in medium-term “Progress in

Late Thursday, The Telegraph came out with the news suggesting that the UK PM is on the way to announce next week a tax hike to pay for an overhaul in social care. Johnson will reveal a rise in national insurance that will see around 25 million people pay extra tax, the report said. FX