We would like to inform you that due to the seasonal change in Daylight Savings Time, the trading hours of various instruments will be affected between March 8 and March 27. The normal trading hours will be resumed from there onwards. Please view the tables below to see which instruments will be affected and how: […]

We would like to inform you that due to the seasonal change in Daylight Savings Time, the trading hours of various instruments will be affected between March 8 and March 27. The normal trading hours will be resumed from there onwards. Please view the tables below to see which instruments will be affected and how: […]

We would like to inform you that due to the seasonal change in Daylight Savings Time, the trading hours of various instruments will be affected between March 8 and March 27. The normal trading hours will be resumed from there onwards. Please view the tables below to see which instruments will be affected and how: […]

US data, virus bill, Biden boost lift stocks but sentiment shaky as virus continues to spread Dollar rebound short-lived as more rate cuts expected BoC follows Fed and RBA in cutting rates; are ECB and BoE next? Oil steady as OPEC begins meeting to discuss output cuts Virus stimulus and US politics boost equities Stocks […]

US data, virus bill, Biden boost lift stocks but sentiment shaky as virus continues to spread Dollar rebound short-lived as more rate cuts expected BoC follows Fed and RBA in cutting rates; are ECB and BoE next? Oil steady as OPEC begins meeting to discuss output cuts Virus stimulus and US politics boost equities Stocks […]

EURGBP bulls hit a wall near the 200-day simple moving average (SMA) which perfectly curbed last week’s aggressive rally, with the price edging down to the 0.8600 territory on Wednesday. The price is currently ready to enter the 0.8647-0.8560 restrictive region formed by the 50% and 38% Fibonacci retracement levels of the 0.9018-0.8275 downleg, where a consolidation […]

USDJPY is looking strongly bearish in the short-term after plummeting below its moving averages in the preceding week and penetrating the ascending trend line. Prices hit a five-month low of 106.84 on Wednesday and the technical indicators are all pointing to further negative momentum in the near term. The stochastics are heading downwards, and the […]

USDCNH is plunging for the ninth consecutive day after the pullback on the 7.0561 resistance, breaching the 23.6% Fibonacci retracement level of 6.9624 of the down leg from 7.1944 to 6.8433 today.  The price is also registering a six-week low of 6.9159 within the Ichimoku cloud. Technical indicators are moving south with the RSI approaching its 30 oversold mark and the MACD dropping below its zero level, while the red Tenkan-sen […]

GBPCHF slumped below the 200-day simple moving average (SMA) which proved an easy obstacle this time but the former strong support region around 1.2190 from the 2016-2017 period came to the rescue. Although the RSI, Stochastics and Bollinger bands reflect oversold conditions, the indicators have yet to reverse north, keeping the short-term bias negative. Should […]

EURJPY is close to break the 120.00 psychological level which is near the 40-period simple moving average (SMA) on the 4-hour chart. According to the RSI, the market could maintain positive momentum in the very short-term as the indicator is positively sloped near its neutral threshold of 50. Also, the stochastic oscillator posted a bullish crossover within its %K […]

Fed surprises with emergency 50-bps cut but markets continue to fear the worst US stocks stage turnaround after Joe Biden wins big on Super Tuesday Dollar slumps, yen and gold surge after Fed’s shock rate cut; is BoC next? Fed fails in attempt to soothe market panic The US Federal Reserve shocked markets by slashing […]

Gold recouped all the losses it made on Friday after stepping on the 50-day simple moving average (SMA), with the price returning to the 1,600 territory. The short-term risk is still on the upside as the RSI has rebounded near a descending trendline and back above its 50 neutral mark, though with the MACD remaining […]

GBPUSD has been trading lower over the last three months with weak momentum, reaching a new four-month low of 1.2725. The risk is still to the downside as the pair remains beneath the Ichimoku cloud and the 20- and 40-day simple moving averages (SMAs). The RSI indicator is flattening below the 50 level, while the […]

The Bank of Canada is expected to join the Federal Reserve and Reserve Bank of Australia in cutting interest rates this week as the global wave of central bank action to counter the economic fallout from the coronavirus outbreak begins. The BoC will announce its decision on Wednesday at 15:00 GMT and is widely anticipated […]

AUDUSD is testing the descending trendline stretched from the 0.7031 high again following Friday’s bounce on the decade low of 0.6433, and expectations are for more upside to come, with the rising RSI and MACD backing any potential move higher. Should the market close above the trendline, the bulls would aim for the 0.6670 barrier, […]

WTI oil futures for April delivery slipped as low as 43.50 on Monday and near 2018 lows before bouncing up on Monday. With the RSI rising above its 30 oversold mark and the MACD stabilizing below its signal line, the market could follow a sideways path in the coming sessions. Any attempt for improvement could […]

US 100 stock index found strong footing near the 200-day simple moving average (SMA) once again, refusing to slip below the 8,000 number. In the short-term, the market could follow a neutral path, holding above its recent lows, as the RSI is moving towards its 50 neutral mark and the MACD is stabilizing within the […]

RBA cuts rates, others expected to follow as virus cases show no sign of slowing G7 statement eyed as markets pin hopes on stimulus to combat outbreak Stocks bounce back on stimulus talk but doubts on commitment caps gains Yen and gold edge up, dollar mixed ahead of Super Tuesday RBA first to cut, others […]

EURUSD bulls forcefully entered the 1.1100 territory on Monday and peaked at a two-month high of 1.1183, but failed to close above the former supportive ascending trendline even though the pair pierced through it. The price also surpassed the 200-day simple moving average (SMA) but the RSI and Stochastics are currently flagging overbought conditions, suggesting […]

EURUSD bulls forcefully entered the 1.1100 territory on Monday and peaked at a two-month high of 1.1183, but failed to close above the former supportive ascending trendline even though the pair pierced through it. The price also surpassed the 200-day simple moving average (SMA) but the RSI and Stochastics are currently flagging overbought conditions, suggesting […]

The deterioration in the US preliminary IHS Markit PMI survey in February was partially attributed to the coronavirus outbreak and markets are now turning their attention to the more important ISM PMI indices for release on Tuesday (manufacturing) and Thursday (non-manufacturing) at 15:00 GMT to confirm potential disruptions in US business activities. Should the numbers ratify concerns, especially […]

Central banks in Australia and Canada will hold policy meetings next week – the first since the outbreak of the coronavirus escalated into a global crisis. But with policymakers having limited firepower, they will probably maintain a wait-and-see approach until a clearer picture starts emerging about the impact of the virus, whose spread has multiplied […]

The Reserve Bank of Australia (RBA) will wrap up its policy meeting early on Tuesday, at 03:30 GMT. Markets assign a 20% chance for an immediate rate cut, so if the RBA keeps policy unchanged, the aussie could spike higher on the decision. That being said, policymakers will probably strengthen their easing bias and send […]

USDCHF remains under pressure and the risk is to the downside as prices continue to drift lower from the 38.2% Fibonacci retracement level of the downward wave from 1.0235 to 0.9610 at 0.9850. The revisiting of the 16-month low of 0.9610, suggests the formation of a possible trading range if the price fails to post a lower low in the daily […]

Global stocks fall apart amid growing fears of a virus-induced recession Yen and euro shine amid the mayhem, dollar and commodity currencies get hammered More de-risking possible today, Chinese PMIs and virus news over the weekend are a huge risk Pandemic fears throw global markets into havoc The worsening outlook for the world economy continues […]