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Intraday Analysis 06.06.2023

Jing Ren Jun 6, 2023 81 0

GBPUSD tests support The US dollar retreated after May’s services PMI came in short of expectations. The pair came under pressure at a 12-month high of 1.2670 then a series of lower lows led recent buyers to leave the market, leaving a…
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Fundamental Analysis

RBA to hike, or not?

Daniel John Grady Jun 5, 2023 82 0

There is considerable uncertainty around what the RBA will do when it meets later today (or early tomorrow, depending on your time zone). Part of this is due to signals being given by officials seemingly contradicting the data that has been…
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Technical Analysis

XAUUSD Intermediate Correction Begins Bullish Impulse

Roman Onegin Jun 5, 2023 101 0

In the long term, XAUUSD builds a primary double zigzag consisting of three main sub-waves Ⓦ-Ⓧ-Ⓨ. There is a high probability that a third sub-wave Ⓨ is under development. Judging by the internal structure, the wave Ⓨ will take a…
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Technical Analysis

Intraday Analysis – Gold struggles for support 05-06-2023

Jing Ren Jun 5, 2023 93 0

USDCHF bounces back The US dollar bounced after a surge in May's non-farm payrolls. The pair is testing the former daily demand zone around 0.9100 as it recoups losses from the April sell-off. A series of higher lows on the hourly…
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Technical Analysis

The Week Ahead – Intended effect

Jing Ren Jun 2, 2023 91 0

AUDUSD slips over growth worries The Australian dollar tanks as soft Chinese data reduces risk appetite. Sluggish commodity markets due to growing concerns about China’s demand weigh on overall sentiment. A slump in prices of iron…
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Fundamental Analysis

The Next Worry After the US Debt Ceiling Deal

Daniel John Grady Jun 2, 2023 82 0

With the debt deal all but confirmed, the next question is how the debt issuance could affect the currency market. The impact on yields could help explain the shift in attitude at the Fed. But it also opens up another potential risk factor…
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Technical Analysis

DXY Triple Zigzag Falls Below $100!

Roman Onegin Jun 2, 2023 79 0

In the long term, the dollar index forms a triple zigzag pattern consisting of primary sub-waves Ⓦ-Ⓧ-Ⓨ-Ⓧ-Ⓩ. At the moment, the sub-waves Ⓦ-Ⓧ-Ⓨ-Ⓧ look complete. The second intervening wave Ⓧ is a standard zigzag. Most likely, the…
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Technical Analysis

Join Our Masterclass Webinar: “Using Price Patterns in Trading” | 9-06-2023

Orbex Jun 2, 2023 33 0

Don’t miss your chance to attend another Orbex Trading Masterclass webinar: “Using Price Patterns in Trading” with leading industry expert and seasoned market analyst David Kindley. Do you want to learn how to identify and trade price…
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Technical Analysis

Intraday Analysis – USD pulls lower

Jing Ren Jun 2, 2023 67 0

NZDUSD attempts to rebound The US dollar slips as rising claims for unemployment benefits suggest a looser job market. After breaking below the daily demand zone around 0.6110, the kiwi has been struggling to find buyers. The…
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Fundamental Analysis

NFP Trading: What Could an NFP Surprise Do to the Markets?

Daniel John Grady Jun 1, 2023 90 0

So far this year, analysts have overestimated NFP results pretty much every time. If that were to happen again this time, it could end up convincing a lot of traders that the Fed will hike at the next meeting. With all the…
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