In anticipation of the 2018 budget from Finance Minister Jeremy Hunt, which includes “tough but essential” measures to curb inflation, the pound (GBP) depreciated against the dollar on Thursday. Hunt, who replaced Kwasi Kwarteng as chancellor under former UK Prime Minister Liz Truss, intends to close a gap in the British budget of 55 billion […]
Sellers may dominate the Silver market soon SILVER Weekly Price Analysis – 17 November Should sellers maintain their momentum or exert more pressure, the support level of $20.4 may be broken downside, Silver may decrease and test the support levels of $19.4, and $18.8. The inability to break down the support level of $20.4 may […]
USDCAD Analysis – November 16 USDCAD bulls find re-entry at a discount array. The market’s overall direction still aligns with the major trendline on the daily time frame. The trendline has been opposing the bears as they look downward. The recent pullback to the downside was due to the downcasting of USDCAD by its sellers […]
EURCHF Analysis – November 15 EURCHF slips from above the 0.98360 key level upon its second attempt to test the level. Since hitting a depression some weeks ago, the market has been strongly bullish. The price conformed into a bullish structure to pump the current pair beyond several key levels, including the 0.98360 major resistance […]
As it became clear that a missile strike on Poland was most likely the result of Ukrainian air defenses, the dollar (USD) fell back on Wednesday toward the multi-month lows it had reached on Tuesday. Dollar Descent Triggered by Lower-Than-Expected CPI The euro (EUR) was last seen trading 0.46% higher, at 1.0395, and was getting […]
In anticipation of this week’s UK government budget, the pound (GBP) climbed to its highest level in almost three months against the US dollar (USD) on Tuesday, partly as a result of the tension mounting on the dollar. Sterling increased by as much as 2% against the dollar to reach its highest level since late […]
AUDJPY Analysis- November 14 AUDJPY price is chipping away back to the 91.470 key zone as more expectations are raised by sellers. On the AUDJPY market, the sell traders seem to be lowering the bar as price action is now seen slipping. Taking a look at the Bollinger Band Indicator, the price action is seen […]
NZDUSD Analysis – November 13 NZDUSD is preparing for a retracement to the downside after hitting the 61.8% retracement level. Until the 13th of last month, the market was clearly in a downtrend. Though the NZDUSD buyers were privileged to make some successful trades as the market retraced upward, for a very long time, the […]
Following a brutal drop last week, the US dollar (USD) maintained its steady course on Monday as Federal Reserve Governor Christopher Waller stated that the central bank was continuing to fight inflation. The dollar index fell 3.6% over two sessions last week, its worst two-day percentage fall since March 2009, as a result of somewhat […]
