2023

AUDUSD tests resistance The Australian dollar inched higher after the RBA reiterated that further tightening might be needed. The price action has stabilised over 0.6600 and a steady grind upward suggests that sellers have taken some…
Read More

Investors are going to be looking for some clarifications out of the minutes from the last FOMC meeting. The market and the Fed are at odds about the future of rate hikes. More importantly for how the dollar behaves, there is considerable…
Read More

USDCHF attempts to bounce The US dollar slipped after soft ISM manufacturing data in June. Following a pop above the psychological level of 0.9000, a brief pullback was contained at 0.8940, a key demand zone near a series of recent…
Read More

The RBA might or might not raise rates by 25bps later tonight when it meets, depending on who you ask. This could set up some significant market fluctuations, since traders aren't dialed into the results. Either way it goes, it could still…
Read More

EURUSD bounces back The US dollar gave up some gains after the PCE showed a cooldown in May. The pair’s trajectory has turned corrective after it came into the supply zone of 1.1010 from the May sell-off. A fall below the recent swing…
Read More

AUDUSD retreats as RBA may pause sooner The Australian dollar weakens as traders bet the RBA would halt its rate hikes sooner. Inflation slowed to a 13-month low in May, which could prompt the central bank to ease its hawkish tone.…
Read More

Next will have a complicated start. The US will have a shortened trading session on Monday, and then be closed on Tuesday for Independence Day. Canada Day is on Monday, as well. Many traders will take Monday off as part of an extended…
Read More

In the long term, XAGUSD seems to be forming a corrective trend consisting of cycle waves w-x-y-x-z. At the time of writing, an intervening wave x is being constructed, taking the form of a triple zigzag Ⓦ-Ⓧ-Ⓨ-Ⓧ-Ⓩ of the primary…
Read More

USDJPY grinds rising trend line The Japanese yen dipped after the CPI in the Tokyo area fell short of expectations in June. The pair has been climbing along a rising trend line from mid-June and the bullish mood means that pullbacks…
Read More

The release of key industrial data from China tomorrow and next week could substantially shake up global markets. The world's largest manufacturer, and second largest economy, has been seen as the hope of driving the world's economy…
Read More