Intraday Trading

NZDUSD tests resistance The New Zealand dollar recovers from dips as risk appetite makes its return. The pair came under pressure after it tanked below the daily support at 0.6060. With the RSI in the oversold zone, bargain hunters…
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EURUSD attempts to break out The euro recoups losses as traders expect a 50bp interest rate increase by the ECB. A bearish MA cross on the daily chart following a brief consolidation shows that the mood remains cautious at best. A…
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AUDUSD struggles for bids The Australian dollar takes a hit as risk appetite continues to recede across markets despite the RBA’s 50bp hike. A bearish MA cross on the daily chart shows a deterioration in sentiment. A fall below the…
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USDCHF tests resistance The Swiss franc struggles as the Q2 GDP reading disappoints. The greenback has recouped all losses from its July sell-off and is testing the daily resistance at 0.9880. A combination of profit-taking and fresh…
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GBPUSD tests major demand zone The US dollar rallies as hiring remains strong despite moderate wage growth. As the pair approaches March 2020’s lows around 1.1450, the RSI’ oversold situation prompts sellers to take some chips off…
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NZDUSD continues lower The New Zealand dollar softens as risk appetite continues to subside. A bearish MA cross on the daily chart points to an acceleration to the downside. A short-lived bounce to 0.6190 indicates strong headwinds.…
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USDCAD to test key resistance The Canadian dollar softens after the Q2 GDP fell short of expectations. A rally above 1.3060 prompted sellers to cover their bets, opening the path for an extended recovery. A series of higher lows…
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The current USDCAD timeframe shows the internal structure of the long-term correction wave (4) of the intermediate degree. This is part of the global downward impulse Ⓒ of the primary degree. It is likely that the correction wave (4)…
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EURUSD tests resistance The euro claws back losses as traders price in the likelihood of a large-sized rate hike by the ECB. The single currency has been struggling to hold onto the parity threshold. A whipsaw around 1.0080 suggested…
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