At the latest policy meeting, the ECB decided to keep interest rates unchanged but left no doubt about its intention to move to more easing. The guidance prompted traders to increase bets that the organization led by Christine Lagarde will launch an easing campaign at the next monetary policy meeting in June. The prospect of the ECB being ahead of the Fed on...
BULLISH US DOLLAR FORECAST OANDA:EURUSD - The mighty dollar is back as CPI data impacts policy paths - EURUSD at risk after the ECB laid out the conditions for lowering rates THE MIGHTY DOLLAR IS BACK AS CPI DATA IMPACTS POLICY PATHS The US dollar is back in the FX market following strong CPI data, leading to a reevaluation of the world's reserve...
OANDA:EURUSD NEWS AND ANALYSIS - ECB officials eye June meeting for first rate cut, SNB delivers a surprise cut - Dollar drop appears short-lived as EUR/USD heeds resistance ECB OFFICIALS EYE JUNE MEETING FOR FIRST RATE CUT, SNB DELIVERS A SURPRISE CUT Despite the EU and US having different growth prospects, the ECB remains cautious about cutting rates....
After enduring notable losses last week, EURUSD steadied and mounted a modest comeback over the past few days, rebounding off the psychological 1.0600 level and pushing past the 1.0650 mark. If the pair continues to recover in the coming days, resistance is expected at 1.0695 and 1.0725 thereafter. On further strength, all eyes will be on 1.0820. Conversely,...
After steep losses in recent days, EURUSD stabilized and rebounded off the psychological 1.0600 level on Wednesday, pushing past the 1.0650 mark. If the pair manages to build upon its recovery in the days ahead, resistance lies at 1.0695, followed by 1.0725. On further strength, the focus will be on 1.0820. On the other hand, if sellers return and regain control...
OANDA:EURUSD FORECAST - TECHNICAL ANALYSIS EUR/USD jumped on Wednesday, with bulls seemingly determined to challenge trendline resistance at 1.0950 after the FOMC announcement. In the event of a retest, sellers will need to fend off the advance; otherwise, there will be minimal obstacles to a rally towards 1.0970, a key Fibonacci level. Alternatively, if upside...
Earlier in the week, USDJPY surged to multi-decade highs around 154.80 before retracing slightly from those lofty levels as the weekend approached. If the downward reversal gains traction in the upcoming trading sessions, support looms at 153.20 and 152.00 thereafter, with 150.80 possibly becoming a focal point if these price thresholds are breached. On the flip...
The Bank of Japan (BoJ) increased its policy interest rate to 0.00-0.10% in March, bringing interest rates out of negative territory. Although the yen was expected to increase, the market witnessed a decline in the yen, causing the OANDA:USDJPY exchange rate to increase. Although the Bank of Japan gave limited guidance on further policy tightening, markets...
USDJPY edged lower on Wednesday, stepping off its multi-decade high established in the previous session when the pair hit 154.78. Should the downturn reversal gain momentum later this week, support can be spotted at 153.20 and 152.00 thereafter. Below these levels, 150.80 may become a focal point. Conversely, if USDJPY resumes its rally, resistance looms at...
The US dollar surged on Wednesday due to higher-than-expected US inflation numbers. This led to USDJPY reaching new highs for 2024 and its strongest level since 1990. The March Consumer Price Index report showed persistent inflation in the North American economy, reducing expectations for a June FOMC rate cut. Headline CPI increased by 3.5% YoY, surpassing...
US DOLLAR FORECAST – OANDA:USDJPY - U.S. dollar loses ground on Monday ahead of high-impact events later in the week - Core PCE data and Powell’s speech on Friday will be the center of attention - This article examines the technical outlook for USD/JPY The dollar fell slightly on Monday, but losses were limited by higher U.S. Treasury yields. Traders took...
OANDA:USDJPY FORECAST - TECHNICAL ANALYSIS USD/JPY traded within a confined range on Thursday, lingering just below overhead resistance at 152.00. This technical barrier warrants close attention, as a breakout might prompt intervention from the Japanese government to support the yen. Should such a scenario unfold, a rapid reversal below 150.90 could occur ahead...
Breakout was a success and we saw $80s for a good moment there. Plenty of time to have taken any profit on any positions I had. The pullback in between also happened according to the bar chart. Let’s see if the rest of my pattern can make its way through into a plummet for late May.
Gold prices fluctuate sharply up and down but follow a gradual upward trend and sometimes reach close to 2,400 USD/ounce. Geopolitical tensions in the Middle East tend to increase when Israel announces it will retaliate against Iran. According to Qatar's Al-Jazeera TV channel, a senior US official said that Israel could attack targets deep inside Iranian...
the gold market this year has essentially only seen upside. since all time highs theres been a run on available contracts during a contraction that has ended suddenly. it appears that todays rally has been sustained, and the uptrend in futures has all but resumed according to a credit liquidity crunch and bear dollar environment. according to tv alerts, forex...
Trading Plan for Thursday, April 25th, 2024 Market Sentiment: Uncertain, with bulls maintaining short-term control. Key Supports Immediate Supports: 5088-92 (major), 5082, 5077 (major), 5067 Major Supports: 5054-57 (major), 5033-36 (major), 5005-10 (major), 4966 (major) Key Resistances Near-term Resistance: 5104 (major), 5115-20 (major), 5133-36 (major),...
AUSTRALIAN DOLLAR Q2 FUNDAMENTAL OUTLOOK The Australian Dollar has been weak against the US Dollar in recent years, including 2024. However, there may be some positive news for Australian currency bulls, mainly due to weakness in the US Dollar rather than strong economic performance in Australia. Rising US interest rates and the safe-haven status of the Greenback...
AUSTRALIAN DOLLAR ( OANDA:AUDUSD ) ANALYSIS - Australian inflation eases less than anticipated in March and Q1 as a whole - AUDUSD continues to benefit from the return to risk assets AUSTRALIAN INFLATION EASES LESS THAN ANTICIPATED IN Q1 Monthly, quarterly and yearly inflation measures showed disappointing progress towards the Reserve Bank of Australia’s...