• FOMC raises interest rates by 25 bps as expected, unanimous decision
• Policy statement no longer says “some additional policy firming may be appropriate”
• Dovish hike, but was it expected?
So, there you have it then: the Fed hikes by 25 basis points as had been highly anticipated. But by removing a key line from the statement that “some additional policy...
The recent advance in EUR/JPY appears to have stalled ahead of the March 2008 high (151.69) as the Relative Strength Index (RSI) slips below 70 to indicate a textbook sell signal.
EUR/JPY Rate Outlook
EUR/JPY halts a three-day rally as it falls back from a fresh yearly high (151.62), with the opening range for May in focus as the exchange rate registered the...
USD/CAD has continued to coil within the confines of a massive multi-month consolidation pattern - with the yearly opening-range intact heading into May trade.
Key event risk on tap this week with the FOMC rate decision followed by US & Canada employment figures on Friday- expect volatility.
Resistance eyed at 1.3688 backed by slope resistance/ the yearly...
FOREXCOM:AUDJPY clears the April high (90.78) as it extends the series of higher highs and lows from last week, and the exchange rate may continue to retrace the decline from the March high (92.25) amid the lack of response to the negative slope in the 50-Day SMA (89.58).
AUD/JPY Rate Outlook
AUD/JPY appears to have reversed ahead of the April low (87.60) as...
#Euro has broken multi-week channel support after failing to secure a breach of key resistance at 1.1033/70.
FX:EURUSD now threatens a possible test of broader uptrend. Initial support at 1.0874 backed by 1.0737- losses should be limited by this threshold IF price is heading higher.
Breach from here would expose 1.1275.
#FOMC & #ECB on tap.
Michael Boutros...
WTI has bounced sharply to rise 2% and above HKEX:80 again, reversing a big chunk of its losses from earlier in the week. It looks like short-covering, OPEC+ supply cuts, dovish BoJ and mostly stronger US data today are all helping to fuel the rally and supporting the crude oil outlook.
Earlier this week, both oil contracts slumped to finally close their price...
A breakout in USD/JPY is now approaching a 100 pip zone of technical significance at 136.66-137.66- a region defined by the 38.2% retracement of the October decline and the yearly high-day close. - Looking for a reaction there If reached.
Remains constructive while within this formation. A topside breach exposes 139.58
Michael Boutros , Sr Technical Strategist...
ETH/USD holds above the 50-Day SMA (1763) as it bounces back ahead of the monthly low (1765), and Ethereum may track the positive slope in the moving average as it defends the opening range for April.
ETH/USD Outlook
ETH/USD cleared the August 2022 high (2013) earlier this month as it rallied to a fresh yearly high (2133), but a textbook sell signal...
AUD/JPY falls to a fresh weekly low (87.87) after failing to hold above 50-Day SMA (89.73), and the exchange rate may track the negative slope in the moving average as it pares the rebound from the monthly low (87.60).
AUD/JPY Rate Outlook
AUD/JPY may threaten the opening range for April as it carves a series of lower highs and lows, with the selloff in the...
EUR/CAD bounced back ahead of the 50-Day SMA (1.4632) to clear the March high (1.4939), but the exchange rate may give back the five-day rally as the Relative Strength Index (RSI) appears to be reversing ahead of overbought territory.
EUR/CAD Rate Outlook
EUR/CAD appears to be tracking the positive slope in the 50-Day SMA (1.4632) as it registers a fresh...
EUR/JPY clears the 2022 high (148.40) as it registers a fresh yearly high (148.48), with the recent advance in the exchange rate pushing the Relative Strength Index (RSI) towards overbought territory.
EUR/JPY Rate Outlook
EUR/JPY has appreciated more than 5% from the start of the year, and a move above 70 in the RSI is likely to be accompanied by a further...
Key levels on the major currency pairs, gold and indices, as well as macro events to watch by our market analyst Fawad Razaqzada. NOT intended for U.S. audience
NZD/JPY appears to have staged another failed attempt to test the monthly high (83.92) as it snaps the series of higher highs and lows from the start of the week.
NZD/JPY Rate Outlook
NZD/JPY may test the weekly low (82.80) as it gives back the three-day rally, with a break/close below the 82.30 (23.6% Fibonacci extension) to 82.50 (38.2% Fibonacci extension)...
GBP/USD may attempt to retrace the decline from the monthly high (1.2547) as it bounces back ahead of last week’s low (1.2345), but the Relative Strength Index (RSI) may continue to show the bullish momentum abating as it reverses ahead of overbought territory.
GBP/USD Rate Outlook
GBP/USD may stage further attempts to test the June 2022 high (1.2617) as it...
DXY is attempting a breakout of the March downtrend with a potential upslope identified here off the lows.
The weekly opening-range is set just above weekly open support at 101.58 . Look for the breakout into the close of the week.
A topside breach of the median-line would expose the 2016 high-close / 2020 highs into the 103 -handle.
A break below the lower...
AUD/JPY clears the opening range for April to register a fresh monthly high (90.52), and the exchange rate may continue to retrace the decline from the March high (92.25) as it carves a series of higher highs and lows.
AUD/JPY Rate Outlook
AUD/JPY holds above the 50-Day SMA (90.00) as there appears to be an improvement in risk appetite, with the S&P 500 index...
Channels within channels!
Euro's attempt to breach the yearly (Feb) range highs was met with an outside-day reversal candle.
Pullback keeps price within this near-term ascending channel formation. Look for the breakout in the days ahead.
Topside breach exposes 1.2748
Break of this near-term channel would threaten a test of the 2022 uptrend (currently near...
Wall Street opened higher after futures rose in the first half of Tuesday’s session, finding good support from firmer Chinese and European equity markets, and positive risk appetite across the financial markets with the likes of Bitcoin and AUD/USD also higher. But at the time of writing, the major indices had all turned negative on the day, most likely due to...
