GBP/JPY has just reached a new multi-year high, with GBP/USD and USD/JPY both gaining strength today. The bullish sentiment is further supported by rising US stock markets.
In the short term, the price has breached a rising wedge pattern, which is usually bearish. However, the bullish breakout indicates the price could reach 208.60 in the coming days. The...
The Canadian economy is significantly under-performing the U.S. economy, prompting the Canadian central bank to begin cutting interest rates. Despite this, the Canadian dollar has remained relatively strong.
In addition, weak economic data from the U.S. has recently pushed the U.S. dollar to new lows.
The charts indicate the potential for even lower prices,...
Bitcoin is dropping. What are the levels are bearish traders targeting, and when could the bearish momentum end? Additionally, we'll examine RNDR to discuss how we can manage the risks and rewards of the current descending triangle pattern.
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The EUR/AUD has edged up at the start of the European session, following a 139-pip fall triggered by a higher-than-expected Australian inflation reading of 4%. In addition, the unemployment rate remains low, causing the market to project an RBA rate hike in August while the ECB cuts rates and deals with the French elections.
This content is not directed to...
Today's UK labour market data showed a significant shift, with the unemployment rate rising to 4.4%, the highest since November 2021, and the claimant count change reaching 50.4 thousand, the highest since April 2021.
Despite this, GBPUSD is holding up relatively well, but that could all change if the May 24th low at 1.2675 is breached. If it were to happen, the...
