- Thu, 19 May 2016 14:26:15 GMT
AUD/USD on the edge of falling under 0.72
"The $.7200 area that the Aussie is flirting with is important. A convincing break signals a move to $0.7000, which is technical objective. The low set in mid-January is near $0.6830, and in the bigger picture where we think it is heading."- BBH (based on FXStreet) Pair's Outlook [ANNOUNCE]With the FOMC stating that a June rate hike is still on the table,
- Thu, 19 May 2016 13:42:14 GMT
EUR/JPY caged between 123.00 and 124.00
"The yen is set to weaken to 112 per dollar in three months." - Macquarie Bank Ltd. (based on Bloomberg) Pair's Outlook [ANNOUNCE]For the second consecutive day the Euro remained relatively unchanged against the Japanese Yen, having appreciated only ten pips.[/ANNOUNCE] The 20-day SMA and the monthly pivot point keep providing immediate resistance just under the 124.00 major level, preventing the EUR/JPY cross
- Thu, 19 May 2016 09:16:17 GMT
Gold trades at monthly lows post-FOMC
"I don't think gold will go down further as $1,250 should be quite an important support and that should be held and physical interest should be coming in the market around there."- Emori Capital Management (based on Bloomberg)Pair's Outlook[ANNOUNCE]Yesterday the precious metal performed a substantial sell-off on the back of growing American Dollar.[/ANNOUNCE] Gold slumped below the weekly pivot point
- Thu, 19 May 2016 07:41:26 GMT
USD/JPY attempts to remain above 110.00
"The pair however, is not yet able to confirm a break above the critical psychological figure, weighed by nose-diving stocks. Nevertheless the technical bias is now bullish, as the pair finally broke above the 61.8% retracement of its latest daily fall at 109.55, now the immediate support."- Valeria Bednarik, FXStreetPair's Outlook[ANNOUNCE]As was first anticipated, hawkish FOMC Meeting Minutes triggered another
- Thu, 19 May 2016 07:41:08 GMT
GBP/USD struggles to reclaim 1.46
"The market I suggest is heavily hedged, running with short sterling exposure, and will likely turn buying. I sense there is further upside."- Neil Jones, Mizuho Bank (based on Business Recorder)Pair's Outlook[ANNOUNCE]Still being driven by political factors, namely the upcoming EU referendum, the Sterling managed to advance more than 130 pips against the US Dollar yesterday.[/ANNOUNCE] The weekly R2 succeeded
- Thu, 19 May 2016 07:40:54 GMT
EUR/USD tests April low after hawkish Fed
"With April activity indicators consistent with a healthy bounce-back in growth, we see risks of two rate hikes in 2016, with the first coming in the June/July time horizon."- Barclays (based on Reuters)Pair's Outlook[ANNOUNCE]The Federal Reserve's expectations on hike interest rates in June caused the Dollar's rally on Wednesday.[/ANNOUNCE] The EUR/USD pair closed under the 55-day SMA, currently at 1.1289,
- Wed, 18 May 2016 16:05:11 GMT
NZD/USD slumps back under 0.68
"The reversal in overnight risk sentiment on the back of hawkish U.S. Fed rhetoric has temporarily capped the short term Aussie momentum."- OANDA (based on Business Recorder) Pair's Outlook [ANNOUNCE]The New Zealand Dollar edged up against the US counterpart yesterday, but failed to post significant gains.[/ANNOUNCE] The Kiwi's performance is likely to be almost identical to the Aussie's, with the pair erasing
- Wed, 18 May 2016 15:54:06 GMT
USD/CAD takes another shot at 1.2962
"Positioning may be key as the long dollar trade has completely unwound over the last few months, suggesting plenty of scope for it to be rebuilt aggressively." - Banco Santander SA (based on Bloomberg) Pair's Outlook [ANNOUNCE]Although the US Dollar experienced substantial volatility on Tuesday, the given pair remained relatively unchanged and only managed to climb over the immediate resistance in face of
- Wed, 18 May 2016 15:43:05 GMT
AUD/USD reluctant to remain above 0.73
"The lack of follow through above 0.7355 indicates lackluster momentum and the current movement is viewed as the start of a consolidation phase, likely between 0.7200 and 0.740." - UOB Group (based on FXStreet) Pair's Outlook [ANNOUNCE]The AUD/USD currency pair was able to only pierce the immediate resistance and close trade at 0.7325.[/ANNOUNCE] The bearish momentum is now likely to prevail and push
- Wed, 18 May 2016 14:15:34 GMT
EUR/JPY still stuck between 123.00 and 124.00
"We're looking for further BOJ easing in July, but there's always the risk that they might move in June." - Barclays Plc. (based on Bloomberg) Pair's Outlook [ANNOUNCE]The EUR/JPY pair was unable to maintain trade above the 124.00 mark on Tuesday, as the immediate resistance cluster proved to be impenetrable.[/ANNOUNCE] Ultimately, the cross remained almost completely unchanged, with risks of resuming flat trade
- Wed, 18 May 2016 08:19:07 GMT
Gold retreats before FOMC minutes
"Gold has been supported as of late as the ongoing theme over the several sessions has been economic global concerns, and that has been a driver behind that safe haven demand for gold."- High Ridge Futures (based on CNBC)Pair's Outlook[ANNOUNCE]Three consecutive days of gains resulted in the testing of the weekly R1 back on Monday, but yesterday gold has been
- Wed, 18 May 2016 08:08:17 GMT
USD/JPY on the edge of breaking the pattern
"There's a nervousness among traders now that the Japanese officials have stepped up their verbal interventions...and so traders are speculating that the Japanese central bank will step in eventually if dollar/yen goes too low."- Commerzbank (based on Business Recorder)Pair's Outlook[ANNOUNCE]Despite substantial upside volatility, the US Dollar was unable to stabilise above the resistance line of the falling wedge pattern.[/ANNOUNCE] The
- Wed, 18 May 2016 07:57:14 GMT
GBP/USD on the edge of falling back under 1.44
"We are still cautious ahead of the vote. Unless the polls really show a decisive Stay lead, rallies in sterling can be seen as an opportunity to sell."- Swissquote Bank SA (based on Bloomberg)Pair's Outlook[ANNOUNCE]The British Pound appreciated against the US Dollar for the second day yesterday, with the resistance area around 1.4482 managing to limit the gains.[/ANNOUNCE] Today the
- Wed, 18 May 2016 07:46:05 GMT
EUR/USD probes 55-day SMA ahead of EU CPI
"We look for losses to the 1.1216 April trough. Further down lurks the 1.1144 24th March low and the 1.1060/58 December high and the March 16 low."- Commerzbank (based on FXStreet)Pair's Outlook[ANNOUNCE]EUR/USD tested the weekly pivot point resistance line at 1.1346 on Tuesday; however, the bears took control over the market after US data showed better than anticipated inflation in
- Tue, 17 May 2016 13:37:07 GMT
NZD/USD keeps consolidating between 0.6760 and 0.6840
"The U.S. dollar is coming back and that's where it will be for the second half of the second quarter and into the third quarter." - Brown Brothers Harriman (based on Bloomberg)Pair's Outlook [ANNOUNCE]Due to the Kiwi being a commodity-linked currency, the NZD/USD currency pair managed to retreat from intraday lows yesterday and end the day in the green zone with a
- Tue, 17 May 2016 13:26:04 GMT
AUD/USD takes another shot at 0.73
"The dampening of RBA easing expectations will help to ease some of the downward pressure on the Aussie in the near-term." - MUFG (based on FXStreet) Pair's Outlook [ANNOUNCE]An increase in oil prices yesterday caused the AUD/USD currency pair to edge higher, but the rally was unsufficient to maintain trade above the 0.73 major level.[/ANNOUNCE] The 0.73 mark is still reinforced by the
- Tue, 17 May 2016 13:15:32 GMT
USD/CAD attempts to retake 1.29
"The question over this week is will the Canadian dollar play catch-up to oil or will the trend continue in favor of the US data and the US dollar." - BMO Capital Markets (based on Business Recorder)Pair's Outlook [ANNOUNCE]As was anticipated, the psychological resistance line at 1.2962 caused the USD/CAD to make a U-turn and even fall back under the 1.29 level.[/ANNOUNCE]
- Tue, 17 May 2016 13:15:16 GMT
EUR/JPY retakes 124.00
"We're looking for further BOJ easing in July, but there's always the risk that they might move in June." - Barclays Plc. (based on Bloomberg) Pair's Outlook [ANNOUNCE]On Monday the European single currency edged higher against the Yen, retaking the 123.00 major level and breaching the immediate resistance in face of the weekly PP.[/ANNOUNCE] Risk appetite keeps driving the EUR/JPY cross, with the
- Tue, 17 May 2016 08:38:08 GMT
Gold gives up at weekly R1 amid risk-on mood
"There is more of a positive tone to rhetoric on the gold price outlook that may effect prices, but eventually it is the U.S. dollar that is the key driver."- Argonaut Securities in Hong Kong (based on CNBC)Pair's Outlook[ANNOUNCE]After testing the most immediate daily resistance line, which is represented by the weekly R1 at 1,287.68, the bullion was forced to
- Tue, 17 May 2016 08:27:11 GMT
USD/JPY gravitates towards 109.00
"We are still expecting dollar/yen to move back above 110 in May, and comments on Friday or before (the G7 meet) could trigger that move."- BMO Capital Markets (based on Business Recorder)Pair's Outlook[ANNOUNCE]Even though the US Dollar edged higher against the Yen on Monday and even erased Friday's losses, the resistance trend-line of the falling wedge was not put to
- Tue, 17 May 2016 07:16:35 GMT
GBP/USD attempts to retake 1.45
"Daily and weekly price signals are negative but momentum appears weak. Look for range-trading, with a downside bias."- Scotiabank (based on FXStreet)Pair's Outlook[ANNOUNCE]Demand, represented by the 100-day SMA, was sufficient yesterday to trigger a rebound, but with the 1.44 major level barely retaken. [/ANNOUNCE]The GBP/USD pair remains driven by concerns of the upcoming EU referendum, and increasing support of ‘Bremain'
- Tue, 17 May 2016 07:16:26 GMT
EUR/USD expects heavier momentum triggers
"The U.S. dollar is coming back and that's where it will be for the second half of the second quarter and into the third quarter."- Brown Brothers Harriman (based on Bloomberg)Pair's Outlook[ANNOUNCE]Yesterday EUR/USD regained only a tiny percentage of Friday's losses, as data-free trading session ended with no distinctive leadership of either bulls or bears.[/ANNOUNCE] As for the first daily
- Mon, 16 May 2016 14:33:11 GMT
NZD/USD sets eye on 0.68
"Despite the sharp drop last Friday, downward momentum is lackluster and we see limited downside potential from here. Those who are shorts should look to book partial-profit at 0.6670." - UOB Group (based on FXStreet) Pair's Outlook [ANNOUNCE]The New Zealand Dollar behaved in accordance with the forecast, as it weakened against the US Dollar, with volatility limited by the 0.6760 level.[/ANNOUNCE] Since the
- Mon, 16 May 2016 14:22:04 GMT
USD/CAD stuck between 1.29 and 1.2962
"Retail data renewed speculation of a US rate hike, and this has turned the [US] dollar stronger." - Samsung Futures (based on Business Recorder) Pair's Outlook[ANNOUNCE]The psychological resistance at 1.2962 prevented the US Dollar from posting larger gains against its Canadian counterpart on Friday.[/ANNOUNCE] The same level remains a strong resistance today, while the nearest cluster is located around 1.3015, represented by