Intraday Trading

NZDUSD pushes higher The New Zealand dollar inches higher over rising inflation expectations. The latest pullback has found solid support over 0.5740, near the base of a bullish breakout. A higher high above 0.5900 indicates that the…
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USDCHF struggles for support The US dollar plunged after data showed a higher US unemployment rate in October. A break below 1.0000 could prolong the consolidation as the parity level has been acting like a magnet, pulling the price…
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GBPUSD turns lower The pound tumbled after the BoE warned of a protracted downturn. The price lost steam near September’s high (1.1700) and a break below 1.1440 sent buyers packing, turning it into a resistance. A lack of bids at the…
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USDCAD finds strong support The US dollar recovered after the Fed cautioned that rates could go higher than expectations. The rally has come to a halt in May 2020’s consolidation area. A combination of  profit-taking and fresh selling…
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USDJPY seeks to recover The US dollar consolidates over growing expectations of a slower pace of tightening by the Fed. On the daily chart, the greenback is above the 30-day moving average and may continue to attract trend followers.…
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EURUSD falls back The euro retreats over muted GDP growth in the eurozone. The price action is hovering around parity in an attempt to hold onto its recent gains, a sign of the bulls’ strong attachment to this symbolic level. The…
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EURUSD takes a breather Traders took profit in the euro after the ECB raised its interest rates by 75 basis points as expected. A rally back to parity indicates strong interest in defending the historical exchange level. The price hit…
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USDCAD tests key support The Canadian dollar softened after the BoC surprised the market with a smaller-than-expected rate hike. On the daily chart, the rally came to a halt in the supply zone from May 2020 under 1.4000. The greenback…
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GBPUSD finds bids The US dollar softened after Treasury Secretary Yellen said inflation was not entrenched. After receding from the previous high at 1.1500, the pound found support at the base (1.1100) of the current rebound. This is a…
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USDJPY grinds rising trendline The Japanese yen slips over rumours of an intervention once again by the authorities. The pair has been climbing along a rising trendline after it broke above the previous high at 145.80. As the price…
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