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It might be an interesting week for the greenback, with the latest CPI inflation numbers hitting the markets on Tuesday at 13:30 GMT, ahead of retail sales figures on Thursday. Overall, these are likely to confirm the American economy remains in good shape, reinforcing the Fed’s ‘on-hold’ stance. As for the dollar, its strength is […]

FXTM Senior Research Analyst, Lukman Otunuga, rounds up all the key market events for this week and pinpoints what traders might be looking out for, including: • #GlobalStocks trade near record highs • US-China “phase one” deal in focus #TradeDeal • Economic data from the United States and the United Kingdom under the radar #GBP […]

FXTM Senior Research Analyst, Lukman Otunuga, rounds up all the key market events for this week and pinpoints what traders might be looking out for, including: • #GlobalStocks trade near record highs • US-China “phase one” deal in focus #TradeDeal • Economic data from the United States and the United Kingdom under the radar #GBP […]

EURCHF found some footing around the 32-month low of 1.0780 last week and returned inside the trading range from 1.0810 to 1.1055. The MACD seems to be losing momentum below its red trigger line, the RSI is still hovering around its 30 oversold mark and the red Tenkan-sen is sloping down as well, while the blue Kijun-sen is still flattening, all […]

USDJPY finally climbed above the strong resistance trendline that has been capping upside corrections since mid-September 2018 and questions are rising now about whether the market can sustain the break in the coming sessions. The positive slope in the RSI, which runs comfortably above its 50 neutral mark is painting a rosy picture for the […]

JPMorgan stock price is slightly lower since the pullback on the record high of 141.00 on January 2. In the very short-term, the market could maintain the downside correction if the RSI keeps sloping down and the MACD continues to lose momentum below its trigger line. Currently, the stock price is hovering within the red […]

GBPCAD at this time is challenging the 1.6960 level – a support where the pair had consolidated after a decline from the nine-month high of 1.7790 – where the supportive trendline, drawn from the low on 3 September 2019 presently resides. The push down seems to be aided by strengthening negative momentum and the bearish […]

Risk assets start week on positive note, driven by optimism of ‘phase one’ trade deal being signed on Wednesday Risk-on sentiment, along with easing Iranian tensions, weigh on safe havens; gold and yen slide Pound under pressure as more BoE policymakers join the rate cut bandwagon Trade deal optimism continues to set market tone The […]

EURUSD started the year on the negative side, closing with marginal losses for the second week. The pair, however, managed to pause its sell-off near the 50-day simple moving average (SMA) on Friday, where the 38.2% Fibonacci of the 1.1411-1.0878 downleg is located, retaining at the same time its upward direction off the 28-month low […]

Gold has declined considerably over the last couple of trading days after the touch on the almost seven-year peak of 1,611 on January 8. The price entered the Ichimoku cloud and is capped by the bearish crossover within the short-term 20- and 40-period simple moving averages (SMAs), assuming a negative correction. The technical indicators in […]

Twitter stock’s recent improving picture looks to be assisted by the fresh bullish crossover of the 50-day simple moving average (SMA) by the 20-day one, as well as the strengthening momentum in technical indicators. The short-term oscillators reflect an improving outlook with the MACD slightly over zero, crossing above its red trigger line, while the […]

Twitter stock’s recent improving picture looks to be assisted by the fresh bullish crossover of the 50-day simple moving average (SMA) by the 20-day one, as well as the strengthening momentum in technical indicators. The short-term oscillators reflect an improving outlook with the MACD slightly over zero, crossing above its red trigger line, while the […]

It’s a busy data week in the UK, with GDP numbers for November hitting the markets on Monday at 09:30 GMT, before inflation figures on Wednesday and retail sales on Friday. The pound seldom reacts to economic data nowadays, but that may change now that the Bank of England (BoE) is considering cutting rates. In […]

AUDJPY continues to post higher peaks and higher troughs within an upward sloping channel since late August, which keeps the broader outlook positive. Moreover, the 50-day simple moving average (SMA) looks ready to cross above the 200-day one soon, which would be another bullish sign. That said, both seem to be flattening out, signaling that […]

The United States and China will finally put pen and paper to the hard-fought ‘phase one’ deal on January 15, ending months of trade uncertainty and hostilities. However, it will be too early for the ebb in trade tensions to have benefited China’s export-heavy economy in the fourth quarter and GDP numbers due out of […]

The United States and China will finally put pen and paper to the hard-fought ‘phase one’ deal on January 15, ending months of trade uncertainty and hostilities. However, it will be too early for the ebb in trade tensions to have benefited China’s export-heavy economy in the fourth quarter and GDP numbers due out of […]

The US dollar index futures rose above the short-term 20-day simple moving average (SMA) and is approaching the 40-SMA, creating the fourth green day in a row. The price is still developing within a downward sloping channel since October 2019. The fast Stochastics and the RSI, signal that the bearish action is running out of fuel and […]

The US dollar index futures rose above the short-term 20-day simple moving average (SMA) and is approaching the 40-SMA, creating the fourth green day in a row. The price is still developing within a downward sloping channel since October 2019. The fast Stochastics and the RSI, signal that the bearish action is running out of fuel and […]

Wall Street hits new records and US jobs data today may add fuel to the rally Canada’s employment figures also due – asymmetric risk for loonie? Pound drops on dovish BoE comments and may still have some way to go Nonfarm payrolls: More fuel for stocks? The main event today will be the US employment […]

GBPJPY appears to have stalled below the flat lines of the Bollinger bands, but buyers are attempting to overtake the mid-band at 143.08, after the bounce off the lower-band. The fresh positive push seems to also be aided by the bullish crossover of the 200-day simple moving average (SMA) by the 100-day one. The short-term […]

USDCNH has been developing in a downtrend since the peak at an all-time high of 7.193 in early-September, with the price retreating below the 200-day exponential moving average (EMA) to touch a five-month low at 6.9156 on Thursday. The sell-off is looking overstretched according to the RSI which seems to be rebounding near its 30 oversold […]

USDCAD recorded its third day of gains after a failed attempt to break significantly below the 21-month low of 1.2950 on Tuesday. In the longer-term timeframe, the pair is still moving in a bearish direction. Chances for a short-term reversal are increasing as the stochastic oscillator is approaching its overbought territory. Moreover, the MACD posted […]

EURTRY’s recent correction stretched below 6.538, which is the 38.2% Fibonacci retracement of the up leg from 6.287 to 6.694 and is now testing the swing low of 6.509. The aggressive dive seems to be eyeing the 50.0% Fibo of 6.490 and looks to be aided by the bearish crossover of the 50-period simple moving […]

Tesla’s stock price skyrocketed to a fresh record high of 498.07 on Wednesday, increasing its weekly gains to 15% due to strong vehicle delivery numbers. The RSI, although well into the overbought territory, has yet to show signs of weakness, keeping the short-term bias strongly positive. Yet, with the indicator approaching a former resistance area, some caution […]