DE40

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…
Read More

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…
Read More

USDCAD bounces back The Canadian dollar held as the March retail sales showed a smaller-than-expected contraction. The pair is in a narrowing consolidation between 1.3400 and 1.3560. A bullish breakout would be a decisive signal that…
Read More

GBPUSD seeks support The US dollar recoups some losses ahead of the FOMC this Wednesday. The latest horizontal consolidation has managed to stay above the 30-day SMA and suggests that the bias remains bullish in the medium-term. A…
Read More

USDJPY pulls back The Japanese yen edged higher as inflation in March gathered speed. The price has met stiff selling pressure at the start of the mid-March sell-off at 135.10. A shooting star pattern in this supply zone carries weight…
Read More

AUDUSD seeks support The Australian dollar bounced after the RBA minutes showed that another rate hike was considered. On the daily chart, the price is still in a flag-shaped consolidation following its break below this year’s low of…
Read More

GBPUSD breaks major resistance The pound soars as BoE Chief Economist hints at more rate hikes. A climb over the double top at 1.2430 from December and January’s highs on the daily chart forced sellers to cover, further driving up…
Read More

USDCAD tests support The Canadian dollar bounced on upbeat retail numbers in January. On the daily chart, the upward bias remains intact with the two-week long pullback securing solid buying over 1.3630 at the confluence of the 20-day…
Read More

USDJPY drifts lower The US dollar slips as traders expect a modest 25 bp hike from the Fed amid banking troubles. A drop below the recent swing low of 132.40 has invalidated the rebound and put the pair back on a bearish trajectory in…
Read More