Forex Trading Blog and Market Insights

Intraday Analysis – USD attempts to rebound 27-06-2023

Jing Ren Jun 27, 2023 56 0

USDCHF forms triple bottom The US dollar bounces as risk aversion compounds the Fed’s hawkish stance. The bull’s second attempt came to a halt at 0.9010 which is a support-turned-resistance after a mid month sell-off. A failure to…
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Fundamental Analysis

US Durable Goods: Recession Fears Over?

Daniel John Grady Jun 26, 2023 68 0

Durable goods orders are seen as a relatively good indicator of whether the economy is headed for a slowdown. This is particularly relevant for the US at the moment, because there are conflicting signs in the data. Many economists last year…
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Technical Analysis

DXY Triple Zigzag Drops Below $100!

Roman Onegin Jun 26, 2023 84 0

The long-term outlook for the dollar index shows a triple zigzag pattern. This consists of primary sub-waves Ⓦ-Ⓧ-Ⓨ-Ⓧ-Ⓩ. At the moment, the sub-waves Ⓦ-Ⓧ-Ⓨ-Ⓧ look completed. The final wave Ⓩ is forming. Judging by the internal…
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Technical Analysis

Intraday Analysis – EUR pulls back

Jing Ren Jun 26, 2023 71 0

EURUSD probes support The euro fell after lacklustre PMI showed a manufacturing recession. The rally first came to a halt in the supply zone around 1.1010 from the early May sell-off and a subsequent tumble below 1.0900 indicates a…
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Technical Analysis

The Week Ahead – AI fever steals the show

Jing Ren Jun 23, 2023 92 0

AUDUSD retreats as RBA awaits more data The Australian dollar falls back as doubt grows over the RBA’s hike push. Minutes from the central bank’s latest meeting showed signs of hesitation as to whether to hit the pause button again…
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Technical Analysis

AMZN Bearish Impulse Drops to $80!

Roman Onegin Jun 23, 2023 64 0

In the long term, AMZN develops a bearish correction b taking the form of a zigzag Ⓐ-Ⓑ-Ⓒ of the primary degree. Prices are now in the final intermediate wave (5) of the leading diagonal Ⓐ. As part of wave (5), a long correction 4…
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Technical Analysis

Gold Heads to $1900 after Dropping $50!

David Kindley Jun 23, 2023 63 0

Risk appetite continues to shift against the yellow metal as the $1900 comes into play. With US Indices hitting yearly highs, it seems the Dollar market is now the main focus for investors. Will there be firm support at the said…
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Fundamental Analysis

The Loonie Could Bring More Surprises

Daniel John Grady Jun 23, 2023 1,116 0

Earlier this week, the Canadian dollar hit a 9-month high, as the USDCAD continued to drift lower. This is remarkable additionally because in the same period, the greenback has also been getting stronger. The Loonie has had its own special…
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Technical Analysis

Intraday Analysis – CHF gives up gains

Jing Ren Jun 23, 2023 57 0

USDCHF bounces back The Swiss franc softened as the SNB disappointed with a mere 25 basis point rate hike. A previous rebound came under pressure in the supply zone of 0.9000, which was a sign of a lingering downbeat mood as sellers…
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Fundamental Analysis

Japan Inflation and Set Up for Ending YCC?

Daniel John Grady Jun 22, 2023 78 0

The yen has fluctuated considerably in the wake of the latest release of BOJ minutes, as market participants digested some of the comments. Not surprisingly, the debate revolves around how to interpret inflation trends. Which is…
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