The British Pound fell to its lowest level since September 2019, hitting 1.20150 against the US Dollar, but managed to recover above the 1.2100 threshold after a new package was announced by the UK government.
In one of his first moves since becoming Chancellor of the Exchequer, Rishi Sunak announced that the UK government would be giving away £330 billion of...
Yesterday, the US Federal Reserve cut rates by a full 100 basis points, bringing the interest rate down to almost 0%. The interest rate for the US Dollar is now officially 0.25%, but is effectively zero.
In addition to this, the Fed also announced a $700 billion quantitative easing program. This is comprised of at least $500 billion in US Treasury securities, as...
For the 4th day in a row, the British Pound has been on the downside. Following the pattern of practically every market, including stocks, currencies, and commodities, the GBP slid down to fresh lows, dropping all the way down to $1.2518 against the US Dollar.
Interestingly enough, the USD has actually strengthened, as one of the few markets going up in current...
Australia Consumer Confidence has slid down to a 5-year low, dropping down to 91.9 from the previous month of 95.5. Officially called the Westpac-Melbourne Institute Index of Consumer Sentiment, it fell 3.8%, and in its March report Westpac cited the coronavirus and the effect that it has had on the financial markets as the cause of this 5-year low. It is also the...
As the US market opened, everyone knew that the only direction to go was down. The only question was how far.
However, no one could have predicted that the Dow Jones Industrial Average would drop 2,014 points over the course of the trading day, a one day drop of almost 8%. It was a drop so bad that it called markets to be halted for 15 minutes, stopping trading...
During a week when the coronavirus threatened to become a pandemic that hammers global growth. With reportedly 6 % of the world population under quarantine, and probably more as China continues to adjust the reporting goal posts. Yet the US market continues to whistle while walking through the graveyard with the S&P 500 Index advancing four out of five days,...
We can see that there is a possible head and shoulders forming which could aid us to fill the gap to the upside. However the overall higher time frame trend is to the downside.
The Mexican Peso has weakened significantly this year amid political tension and the pair is now approaching key areas of resistance from late 2018, where lies a cluster of daily candles.
We could see the wicks being filled above the 20.60 mark should this momentum continue.
We can currently see Sterling move just above the weekly support at 1.20000 which also happens to be a major psychological round number.
Looking at the daily it seems to reject the charted support as shown, however there is a lot of strength to the downside caused by the politics including a possible no deal Brexit in the UK and the ever rising US Dollar as we...
With Gold hitting key Support and Resistance zones with the combination of a Flat Top Triangle, it gives us 3 options, A break of Resistance, a consolidation into the triangle or a push to the downside breaking the bottom of the trend-line.
With Gold rejecting a resistance zone at 1280.000, this round Number is a very large Psychological Level as well.
Will it continue downward with the current momentum or will it keep testing this Zone until it breaks?
After Trump announced more tariffs on China we can see that the S&P 500 has propped down quite strongly, hitting a solid support at 2860. We can also see that the drop was caused buy a very solid multiple to rejection.
Is this pullback a setup to Blow past our double top or will it continue to consolidate in it's current zones?
The AUD/USD pair extends its pullback from 16-week old ascending trend-line and tests fresh offers near 0.7060 levels, helped by upbeat Chinese industrial profits data and broad US dollar pullback. Focus on FOMC, NFP this week.
From What we can see on the 30M Candlestick Chart, following a string downtrend, the price has managed to break past a support level close to the 144.400 level.
With it now retracing and coming back to that level which also happens to be a 50% retracement of the move that broke the support.
However, if we look at the Higher Time Frame, we will see that it is at...
