USD/CAD bulls take a breather after the recent runup to the highest level since August 6. The recent upswing in the USD acts as a tailwind for the pair amid a downtick in Oil prices. Bets for a larger BoC rate cut support prospects for a further near-term appreciating move. The USD/CAD pair oscillates in…
The USDCAD market has resisted further downward retracement at the support level of 1.3400. Although the session remains under pressure, the market has staged a notable comeback, driven by improving fundamentals on the US dollar side, as seen in the DXY data. Key Price Levels:Resistance Levels: 1.3500, 1.3600, 1.3700Support Levels: 1.3400, 1.3300, 1.3200 USDCAD Appears…
What is Forex? – Forex Forum September 25, 2024 /Posted byGVI Forex / 164 / Source link
Weekly FX Chart Outlook:- Sept 23-27 New week, new ball game! Similar to last week, how the coming week ends will be more significant than how it starts out. In this regard, the dollar is ending on its back foot (except vs JPY) although only the GBP and AUD broke fresh ground to the…
Weekly FX Chart Outlook Sept 16-20 If you are looking to trade the news in the you will find plenty to focus on in the week ahead. This should be a week where the reaction to new will likely be more important than the news itself baring any surprises. While there is a full…
Weekly FX Chart Outlook Run for the exits! After whipsaw trading following a weaker US jobs report, the market has to pick up the pieces after a tough end to the week where it ended in a risk off mood led by the sell-off in stocks.. In the week ahead, the focus will…
Weekly FX Charts Update I don’t remember a time when all the key currencies were focused on pivotal levels, which will dictate respective tones going forward. EURUSD Monthly Chart – Pivotal: 1.12 BULLISH 1,12 is one of those pivotal levels, not only guarding key daily resistance at 1.1237 but the 2023…
Newsquawk Week Ahead 26th – 28th August Newsquawk.com Week Ahead 26th-30th August 2024: Highlights include US PCE, UoM, Global CPI’s, and NVDA earnings MON: UK Market Holiday (Bank Holiday), German Ifo (Aug) TUE: CBRT Minutes, Chinese Industrial Profit (Jul), German GfK Consumer Sentiment (Sep) WED: Australian CPI (Jul), Nvidia (NVDA) Earnings (Q2) THU:…
The market had looked to the FOMC Minutes for clarity on the US dollar’s trajectory. However, the release provided little support, leaving the greenback struggling. Additionally, the US Dollar Index has fallen to a multi-month low, reaching levels not seen since 2023. This downward momentum has continued to weigh on USDCAD, pushing the pair into…
Weekly Charts Analysis USDJPY DAILY CHART – Time to take a breather? USDJPY pattern is 5 down weeks in a row. To break this pattern, 147.90 would need to be broken. Otherwise, there could be an inside week. On the downside, if I was the BoJ, I would look to defend the 141.68 low.Current consolidation…