2023

USDJPY tests resistance The Japanese yen struggled as the Q4 GDP fell short of expectations. The pair’s latest retracement found support over the psychological level of 130.00 which coincides with a resistance level from a previous…
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Following the last FOMC meeting, it seemed the Fed was quite happy with how much inflation was coming down. The rhetoric shifted from "keep raising" to "only a couple more hikes left". That was a dovish shift that was welcomed by the…
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In the long run, GBPUSD seems to be forming a global triple zigzag w-x-y-x-z. The final wave z most likely takes the form of a primary triple zigzag Ⓦ-Ⓧ-Ⓨ-Ⓧ-Ⓩ. Now the focus in on the development of the primary wave Ⓩ. It can take…
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USDCAD to test major support The Canadian dollar surged after a blowout jobs report fuelled speculation about further tightening. The recent consolidation has failed to secure a foothold above 1.3370, which has turned into a fresh…
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USDJPY awaits BOJ boss nomination The Japanese yen steadies as markets expect a new face at the top of the Bank of Japan. Eyes are now on the successor to incumbent Governor Haruhiko Kuroda, whose term ends in April, as traders look…
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Overnight, there was considerable movement in the USDJPY with rampant press speculation over who would be nominated as the next governor of the BOJ. There has been a lot of anticipation about the announcement, since the new governor is…
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We talked about the EURUSD pair a few reviews ago. The construction of a bearish cycle impulse, consisting of five main sub-waves I-II-III-IV-V continues. Most likely, correction IV is under development. This complex correction looks…
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GBPUSD stages recovery The pound retreats as traders reposition ahead of a series of UK data. After coming off December’s high of 1.2440, the pair is staging a bounce from the demand zone around the psychological level of 1.2000. The…
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Tomorrow there is a trove of UK data before the market opens. But the most important is likely to be the first look at GDP figures for last quarter. That could be the make-or-break instance for the BOE and even the government's policy, and…
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