USD/CAD TECHNICAL ANALYSIS Between mid-July and early September, USD/CAD embarked on a robust uptrend, but the pair encountered resistance near the psychological 1.3700 level before reversing lower just as oil broke out to multi-month highs, a development that added some support to the Loonie given Canada’s high sensitivity to energy markets. Following the recent setback,
Trade Smarter – Sign up for the DailyFX Newsletter Receive timely and compelling market commentary from the DailyFX team Subscribe to Newsletter GOLD PRICE FORECAST Gold advanced on Monday on the back of a weaker U.S. dollar, but gains were limited as traders avoided taking large directional positions ahead of Wednesday’s U.S. inflation data, which
Today I present you an overview of trades made using the Owl strategy – smart levels for the EURUSD, GBPUSD and AUDUSD currency pairs for the week from September 4 to 8, 2023. There were opened a total of 6 trades, two for each currency pair. The Owl Smart Levels indicator traded all currencies on the downside
US: The Fed hiked by 25 bps as expected and kept everything unchanged at the last meeting. Fed Chair Powell reaffirmed their data dependency and kept all the options on the table. Inflation measures since then showed further disinflation. The labour market displayed signs of softening although it remains fairly solid. Overall, the economic data
EUR/USD ANALYSIS EUR/USD retreated on Wednesday, falling to a three-month low around the 1.0700 handle, as strong U.S. economic data increased the probability of additional FOMC policy firming in 2023, reinforced the case for a restrictive monetary policy position for an extended period and propelled U.S. Treasury yields upwards, with the 2-year yield comfortably breaking
Euro, EUR/USD, RSI Divergence – Technical Update: Euro closed at its lowest in almost 3 months EUR/USD close to ending dominant uptrend EUR/GBP once again approaching support Recommended by Daniel Dubrovsky Get Your Free EUR Forecast The Euro closed at its lowest against the US Dollar in almost 3 months, extending the downtrend since July.
Today I present you an overview of trades made using the Owl strategy – smart levels for the EURUSD, GBPUSD and AUDUSD currency pairs for the week from August 28 to September 1, 2023. Markets have been highly volatile sometimes, but let’s talk about everything in order. For convenience and timely receipt of signals I use
USD/JPY TECHNICAL ANALYSIS USD/JPY (U.S. dollar – Japanese yen) rallied strongly from mid-July through late August, but its bullish momentum has begun to fade over the past few sessions after prices failed to clear channel resistance at 147.35. Following this rejection, the pair has transitioned into what appears to be a consolidation phase, marked by
Since the BOE was the first to raise rates in November 2021, followed in February 2022 by the Fed and finally in June 2022 by the ECB, the (continuous) futures on the respective 10-year rates have had a hard time: the UK GILT suffered the most, marking -25% in price, but also the best performing
JAPANESE YEN PRICE, CHARTS AND ANALYSIS: Yen Selloff Resumes Following Gains on Poor US Data Yesterday. BoJ Board Member Naoki Tamura Said that an End to Negative Rates Doesn’t Mean the Central Bank Will Scale Back Monetary Easing as they Intend to Keep Rates Low. USD/JPY, GBP/JPY Remained Cushioned to the Downside with Data Likely
