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Forex
Euro Fails at Support – Can it Recover?
The euro failed at the support level of 1.1055. This puts the bias to the downside if the currency pair fails to break out above this level.
If resistance forms near 1.1055 then we expect a possible move to the downside.
The lower… Read More
Preview: US PMI & ADP Employment
Wednesday is April Fool's, and some might be forgiven to wish the last couple of months of trading were an elaborate prank. But the data coming out is still quite serious.
To begin with, this time around, we're going to be paying very… Read More
Preview: March PMIs from China
Over the next few days, we get the release of all the PMIs from China. And this is going to be really interesting!
PMIs are the most up-to-date fundamental data that the markets get. And this data was collected mostly last week.… Read More
The Week Ahead: Herd Immunity
EURAUD Struggles to Keep High Ground
The euro is facing strong headwinds as the block struggles to come up with a concerted rescue plan. Calls for joint bonds to finance coronavirus-related policies have met resistance from Berlin, which… Read More
Chinese Economy in Severe Threat
The outbreak of coronavirus this year has had a devastating impact across the globe, inflicting severe human and economic damage.
In China, the place where the virus originated, the economic situation is drawing great attention and… Read More
WTI Crude oil back at support
Oil prices gradually declined to fall back to the support area near the 22.00 handle.
This marks a third attempt in the commodity near this level. So far, prices are holding up steadily.
However, the bearish price action on the daily… Read More
Will XAUUSD breakout from the ascending wedge?
Gold prices consolidated into the close of last week with an ascending wedge pattern.
With price action below the 1655 handle, this suggests a possible pullback to the gains made in the past few days. But the bias remains mixed, however.… Read More
Can GBPUSD rally back to the 1.286 resistance?
The British pound is in a strong rally as price action continues to close with daily gains over the last four days.
GBP is up nearly 7.80% from the 23rd March close of 1.1540. As price action increasingly looks bullish, it is possible… Read More
Euro on track towards 1.1200 handle
The euro currency maintains a strong bullish momentum, with price action surging close to one percent on Friday.
The common currency closed at 1.1132 and is now likely to challenge the 16th March levels near 1.1200.
But given the… Read More
Palladium – Is the Rally Higher Only a Correction?
The Fed announcement on Sunday put relief into the markets and palladium made full use of the news. It orchestrated on the best weekly rally it ever had.
From a low of $1,600 to a high print of $2,418, so far the movement has been a… Read More