|Day's range||110.469 - 111.129|
|52-week range||107.3220 - 115.4880|
There’s green across the table for the Euro/Dollar, which sees 5 buy prompts in the short-term, 7 in the mid-term and 4 in the long-term, and the technicals are in line with the more than 42% long interbank. The Cable also sees bullish signals prevailing in all three time ranges, with 4 green models on its short-term chart and 5 on both its mid and long-term scales, but, in contrast, the interbank is neutral at less than 10% long. Bearish models dominate across the chart for the Dollar/Yen, which sees no less than 7 sell prompts in the short-term, 4 in the mid-term and 5 in the long-term, but the interbank is neutral at less than 3% short and does not support the technicals.
The pair pulled back during the yesterday’s session reaching towards the 111 level, an area which has offered both been support and resistance in the past. The market from here is likely to reach towards the 112 level next but given the noise, it will be difficult for the market.
Bullish reports will drive Treasury yields higher. This will make the U.S. Dollar a more attractive investment. If the buying is strong enough, the USD/JPY could reach 111.784 to 112.161.
Gold breaks the mid-term up trendline but the downswing stops on the 1324 USD/oz. There is a chance for a bigger reversal but first, the price needs to break this support. If that will happen, next target will be around the 1300 USD/oz.
The U.S Dollar has gotten stronger in forex, except against the Pound which gained on Wednesday due to hopes for a soft Brexit.
The pair initially tried to rally higher during the Wednesday’s session but then broke down towards the 1.22 level underneath as it faced resistance at the top. The market is likely to be in a back and forth movement before it attempts to make a fresh new high above 1.25 level as it is going to be difficult for the market. The pair has important support at the 1.21 level underneath which will support this market to go higher. …Read MoreGBP/USD
Investing.com - The Aussie held steady in Asia on Thursday after a surprise gain in jobs in December was offset by a higher particpation rate in the survey and with currency traders awaiting growth figures from Beijing expected to show continued robust gains for the economy.
Next up is the Cable with 5 bearish signals on its short-term chart and 5 neutral models on its mid-term scale. Neutral at less than 4% short, the interbank confirms the short and mid-term models. Neutral models prevail across the table for the Pound/Yen, which sees 6 neutral signals in the short-term, 5 in the mid-term and 4 in the long-term but, in contrast, the interbank is bullish at more than 41% long.
The pair drifted a bit lower during the Tuesday’s session reaching down towards the 1.22 level as it tried to gain momentum. The market went slightly lower during the yesterday’s session reaching down towards the 1.3750 level, an area which was massively resistive in the past. The AUD went slightly lower during the yesterday’s session as it found resistance to go higher a bit.
The US dollar has been a bit choppy during the trading session on Tuesday, as Americans came back to work. As you can see on the hourly chart attached, there is a bit of a downtrend line, but not a major one that is in play. We also have some major levels, so it’s likely that this market will be noisy.
The U.S Dollar remains near 4-month lows in forex. Wall Street is being called to open higher via trading in the Futures Markets.
In addition to signaling overbought RSI and chances of a pullback on the D1 chart, weekly scenario of the EURUSD is pointing towards the same situation with an added favor from upward slanting TL resistance, at 1.2240 now. As a result, pair’s failure to successfully conquer the 1.2240 on a weekly basis could trigger its profit-booking session and reignite the importance of 1.2090-80 horizontal-region. Should the pair declines beneath the 1.2080, the 1.2000 round-figure and an ascending trend-line support of 1.1860 become crucial to watch. On the contrary, pair’s sustained trading beyond 1. ...
As the USD softened, Gold prices ventured to their highest level in four months yesterday. The metal was punching above $1340 at the time of writing and is likely to appreciate further this week if the Dollar continues to weaken.
USDJPY broke an important support on the 110.8 and now is testing that it as closest resistance. As long, as we stay below the orange area, the sentiment is negative. The movement which was largely anticipated as the price broke the mid-term up trendline and later, successfully tested that as the closest resistance.
The pair broke above the 1.2275 level during the yesterday’s session and reached towards the 1.23 level. The market has turned extremely bullish in the last two sessions and any pullback will offer value that can be taken advantage of. The market is possibly going to towards the 1.24 level and eventually 1.25 level next. The 1.21 level and 1.20 level is going to be the major support zone of the pair. Going ahead, the plummeting dollar will favour the Euro to rise higher. …Read MoreGBP/USD
Business confidence had fallen in the previous quarter ahead of the General Election, and it appears uncertainty over new Government policies have made businesses even more downbeat.