Intraday Trading

USDJPY struggles for bids The US dollar consolidates as traders reassess future rate hike moves by the Fed. A bearish RSI divergence and MA cross on the daily chart suggest the start of a correction. A short-lived rebound came to a…
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GBPUSD tests resistance The US dollar tumbled after a slowdown in core inflation in July. A bullish MA cross on the daily chart suggests an improvement in sentiment but the pound needs to consolidate its gains so a rebound could have…
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USDCHF struggles to rebound The Swiss franc consolidates as July’s unemployment rate holds steady. A bullish RSI divergence suggests a deceleration in the previous sell-off. Successive breaks above 0.9580 and 0.9630 prompted the…
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EURUSD tests support The US dollar surged after July’s nonfarm payrolls more than doubled the market’s expectations. Multiple tests of the demand zone around 1.0100 suggests solid interest in keeping the rebound intact. 1.0290 next to…
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GBPUSD consolidates The pound treads water as the BoE warns of a recession after raising rates by 50 bps. The rebound came to a halt at 1.2300, a major resistance from the daily chart. A bearish RSI divergence already showed a slowdown…
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USDJPY bounces back The US dollar clawed back losses as services PMI exceeded expectations. A bullish RSI divergence indicates a loss of momentum in the sell-off. The pair bounced off the demand zone around 130.50 at the start of the…
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AUDUSD over-extends The Australian dollar tumbles as the RBA’s downbeat outlook may signal a slowdown in future rate hikes. The rally came to a halt in the vicinity of the daily resistance at 0.7050. A bearish RSI divergence showed a…
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EURUSD finds support The US dollar continues to retreat as profit-taking goes on ahead of nonfarm payrolls. The latest rally found support over 1.0100 after it cleared 1.0200. A series of higher lows indicates mounting buying pressure…
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USDCAD struggles for support The Canadian dollar consolidated after Canada’s GDP showed signs of slowing down in May. A series of lower lows and a fall below the daily support at 1.2840 further weighed on short-term sentiment. A…
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USDJPY struggles for bids The Japanese yen rallied after July’s CPI exceeded expectations. A lack of support from the 30-day moving average (136.50) has put the dollar bulls on the defensive. Then a drop below the demand zones around…
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