Forex

Former President Barack Obama recently broke precedent when he came out with public political commentary. Of course, the argument can be made that the current situation is unprecedented, and most leaders are working in uncharted territory.… Read More

There have been arguments that the euro is set to get stronger in comparison to other currencies (especially the dollar and pound) in the medium term. The key fundamental reason given for this is that Europe is exiting lockdowns sooner.… Read More

Falling shares in Hong Kong drove the Hang Seng index to a 3-month low of 22500 this morning. With prices bouncing off of the multiyear trendline support TS1, a rebound is likely. The trendline connects the Oct '08 and Fed '16 lows at… Read More

The USDCNH structure shows a bullish trend consisting of waves ①-②-③-④-⑤. The first four parts of the primary degree pattern appear to be fully complete. After wave ④ completed in a triangle correction, we saw the pair start to rise… Read More

The GBPJPY structure shows a primary complex pattern consisting of an (A)-(B)-(C) standard zigzag. Wave (A) is a 5-wave bullish impulse, and wave (B) a double zigzag consisting of minor sub-waves W-X-Y. Wave (C) is currently under… Read More

There have been a number of different stimulus programs announced to deal with the economic fallout of COVID-19. And they can get quite confusing. Especially when we consider that each country, and often parts of countries, have their… Read More

The 2-hour chart of CADCHF shows that the pair has been trading within an ascending channel since March 19. Despite trading within the lower end of the regression channel, it remains above the trendline resistance TR1 (now support). And… Read More

Record Rise in Jobless Claims The latest data released from the Office of National Statistics this week showed that the number of people claiming unemployment benefits in the UK rose by its highest level on record from March to April.  2.1… Read More

The pound sterling is building up gains on the back of a weaker USD. But, the current price action suggests that the gains might be overdone for the moment. This comes as there is a confluence of the horizontal resistance level and… Read More

The euro is building upon the dollar weakness as price broke out to a two-week high intraday before pulling back. This upside move now invalidates the head and shoulders pattern that we were watching. Price is reversing well before… Read More