GBP/USD attracts some sellers on Monday amid a modest USD uptick. Geopolitical risks turn out to be a key factor benefitting the Greenback. Dovish Fed expectations should cap the buck and limit further downside. The GBP/USD pair kicks off the new week on a weaker note and for now, seems to have stalled a two-day-old…
The AUD/JPY pair declined to 96.45 on Friday resuming the losses after three sessions with gains. However, technical indicators suggest a shift towards neutral territory, with the RSI moving out of the oversold zone and the MACD showing decreasing red bars. The cross will close a weekly gain of nearly 1% despite the losses. In…
Forex Trading Glossary – L LagThe number of bars that an indicator trails the current price. For example, a moving average will peak by a number of periods after the market price peaks. This period is generally half the length of the moving average. LeadThe number of bars that an indictor designed to change…
After a shaky Monday, the USD recovered, and Tuesday is unlikely to see much movement. Amid renewed market sentiment, US Dollar (DXY) gains and remains near the 103.00 mark. The market is pricing in a 100 bps rate cut by year-end. On Tuesday, the US Dollar (USD), measured by the DXY Index, is capitalizing on…
Despite the predominantly bearish trend, NZD/USD exhibits signs of a mild rebound. Key resistance is noted at 0.5980, with a substantial support level observed around 0.5760. Daily RSI fluctuates under the 50-mark, indicating lasting bearish sentiment, but a recent recovery above 40 shows traces of bullish momentum. The NZD/USD pair, while majorly sticking to its…
GBP/USD consolidates between 1.2800 and 1.2890 amid uncertain Fed and BoE decisions. RSI remains flat, indicating a balanced market with no clear trend. Key support levels are at 1.2778 and 1.2750, with resistance at 1.2888 and 1.2900. The Pound Sterling registers minuscule gains during the North American session as traders brace for the US Federal…
Australian Dollar has suffered extended declines in recent sessions as RBA gains slowly fade. PMI figures from Australia reveal weaker-than-expected data. Fragility in the Australian economy seems to be driving demand off the Aussie. In Friday’s session, the Australian Dollar (AUD) intensified its losses against its peers. The AUD/USD duo has been testing its notable…
Kiwi tallies a three-day losing streak, end the week on a negative note with the pair stabilizing at 0.6115. NZD/USD outlook continues to skew bearish as bulls fail to maintain upward traction. Bucking the bearish trend, a break above 0.6150, the position of the 20-day SMA, is vital. On Friday, the NZD/USD extended its losing streak…
EUR/USD trades with a mild negative bias, though the downside remains cushioned. September Fed rate cut bets keep the USD bulls on the defensive and lend support. The technical setup favors bearish traders and supports prospects for further losses. The EUR/USD pair ticks lower during the Asian session on Wednesday and moves further away from…
EUR/JPY trades at 168.43, marking the second consecutive day of losses due to political uncertainty in France. Technical outlook: Consolidation below 170.00 with potential further losses if price drops below the 50-DMA at 167.47. Key support levels: Kumo bottom at 165.92 and 100-DMA at 164.78, indicating acceleration of the downtrend if breached. The Euro tumbled…