Weekly FX Chart Outlook Nov 11-15 For the week ahead it is like digging out after what was not a normal trading week. So, use last week’s low/high as broad ranges (see below) that either have to narrow unless the USD highs are taken out. Most at risk is EURUSD, which found support…
Weekly FX Chart Outlook Nov 11-15 For the week ahead it is like digging out after what was not a normal trading week. So, use last week’s low/high as broad ranges (see below) that either have to narrow unless the USD highs are taken out. Most at risk is EURUSD, which found support…
The bullish sentiment surrounding the US dollar due to Trump’s re-election has waned. The week ended with downward pressure eroding most of the previous gains. The US is set to review inflation figures and the Consumer Price Index, which could further impact the AUDUSD pair in the coming week. Key Price Levels: Resistance Levels: 0.6600,…
AUD/USD falls as the USD regains strength. RBA holds rates steady but remains hawkish, citing inflation risks. The Fed’s neutral outlook suggests caution regarding future rate cuts. The AUD/USD pair declined by 1.25% to 0.6600 on Friday, continuing its downtrend. The renewed strength of the US Dollar weighs on the pair despite improved risk sentiment….
Australia Trade Balance (MoM) below forecasts (5300M) in September: Actual (4609M) Source link
The US dollar continues to maintain a strong stance even as we approach the US presidential election. This has significantly limited upside retracement in the AUDUSD market. Furthermore, the market seems to have resumed its downward trajectory, going by the way price activity ended on Friday of the previous week. Let’s try to understand or…
Embrace the Retrace As those who have followed my thinking know, I believe trading is common sense. When you think of trading this way you can make sense of what many take as blind faith and learn how our logic takes advantage of retracements to trade. This is why I say embrace the…
The One Word That Makes Markets Move Part 2 I asked a question of our readers in Part 1 of The One Word That Makes Markets Move. The question was what word? The answer was “failure.” A higher low is formed by a failure to break the prior low. A lower high is formed…
The US dollar has been showing a fair gain in upside momentum, aided by improving stocks. Consequently, this has limited upside progress in the AUDUSD market, as the pair faces strong rejection around the 0.6700 price level. Let’s take a look at what the new week may present to traders. Key Price Levels:Resistance Levels: 0.6750,…
The Australian Dollar appreciates following the PBoC’s rate cuts on Monday. The PBoC has reduced the 1- and 5-year Loan Prime Rate to 3.10% and 3.6%, respectively. The Aussie Dollar appreciated as domestic upbeat labor data has lowered the odds of the RBA’s rate cut this year. The Australian Dollar (AUD) extended its winning streak…