USDCAD Analysis – December 7 USDCAD buying pressure continues to intensify as buyers still coordinate to push further. As more buying activity is seen on the currency pair, the bulls are determined to extend their run. As the Canadian currency continues to weaken, the US dollar keeps gaining strength to push forward. A buying spike […]
EURCHF Analysis – December 6 The EURCHF market is on the verge of a price breakout after it fills up its bullish triangle pattern. The market has dropped to a very low price in recent times. However, it has been equally allowed to recover itself. The buyers have taken the opportunity with both hands, though. […]
Tuesday saw a little decline in the US dollar index (DXY), but it continued to trade close to levels reached earlier this week as a result of positive US services data that raised expectations for higher interest rates than had previously been anticipated. Meanwhile, following the Reserve Bank of Australia’s (RBA) eighth-time increase in as […]
AUDJPY Analysis – December 5 AUDJPY heads into the bullish order block to execute buy orders. While the bears are currently in total control of the market, the bullish order block around the 90.0 psychological level seems to be attracting prices for the next bullish phase to ensue. AUDJPY Significant Zones Demand Zones: 86.060, 77.890Supply […]
NZDUSD Analysis – December 4 NZDUSD traders could change the price setup as buyers are more likely to be opposed at the 0.64500 key zone. The buyers have been making a desirous effort to push the buying activity forward. However, based on technical analysis, the 0.64500 significant level has proven to be a vital level […]
The early burst of investor excitement over the potential loosening of COVID restrictions in China has dissipated, and the pound (GBP) fell on Monday even though sterling was still within striking distance of five-month highs versus the dollar (USD). After China prepared to announce yet another batch of steps to loosen limits on activity, which […]
The Canadian Dollar (CAD) did not particularly perform well last week relative to its major rivals, with losses against the US dollar (USD), the euro (EUR), and the pound sterling (GBP). Poor economic data that pointed to a slowdown in the economy as well as the early drop in oil prices pushed down the CAD. […]
GBPJPY Analysis – December 2 GBPJPY market is being forced into a consolidation phase as neither buyers nor sellers currently have the upper hand. The market has been in a ranging phase since the beginning of the second quarter of the year. Although the market’s range was much wider at the time, with 168.720 as […]
On Friday, the Australian dollar (AUD) and New Zealand dollar (NZD) maintained significant weekly gains as the sharp decline in Treasury rates hurt their American counterparts and indications of a loosening of China’s zero COVID policy raised risk sentiment. AUD and NZD Tap Monthly Peak Against Weakening USD The Australian dollar, which yesterday hit a […]
