2022

With Covid no longer taking up international relations, the Northern Ireland Protocol was back creating tension between London and Brussels. But, over the weekend, a proposal was quietly put forward by EU representative Sefcovic that could…
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The structure of the USDCHF pair shows the final part of a large double zigzag consisting of cycle sub-waves w-x-y. It is possible that the price reduction in the intervening wave x, which represents the primary standard zigzag, has…
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USDJPY consolidates gains The Japanese yen bounced after the government hinted at intervention to support its currency. The dollar gained momentum after it cleared the previous top at 139.30. However, it soon came under pressure at the…
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Tomorrow is likely to be one of the most important days for the markets this week, because we get some crucial data ahead of the FOMC meeting next week. To make matters more interesting, the Fed is already in its blackout period. Meaning…
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The current chart of the DXY index shows the completion of the global corrective trend. This took the form of a triple zigzag consisting of cycle waves w-x-y-x-z. Thus, the market is currently at the reversal stage, which is forming…
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USDCAD tests key support The Canadian dollar stalled after a surprise rise in unemployment in August. The pair has met stiff selling pressure at the July peak (1.3200). A fall below the consolidation range at 1.3070 caused leveraged…
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GBPUSD hits 30-month low as recession looms The pound suffers from a symptom of high inflation and high interest rates. Expectations of steep rate hikes by the BoE fails to impress traders who tend to shy away from risk assets.…
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Editor's note: On Friday, the BOE announced it would delay the MPC meeting by one week due to the death of Queen Elizabeth II; the meeting will be held at the same time on Sept 22. Earlier this week, cable dropped to lows not seen…
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