FTUKcom

FTUKcom

Prior chart: Our latest breakdown of GBP/USD has reaped a 90 pip target to the downside in just a few days. We our monitoring the price action around the 1.3480 handle and a movement lower is not to be ruled out. We would expect a minor pullback into the moving averages and then to use them as resistance to start heading south again.

FTUKcom

GBP/USD next stop to the downside looks like 1.3475 (roughly 90 pips) away as pressure builds around 1.3570. We would anticipate further movements to the downside today however this could kick off the tone for next week as well. Lots of bearish confluences on W/D/4H along with this 2H breakout and moving average crossover. We will keep an eye on this pair and...

FTUKcom

Hello Traders, We hope everyone has had a good start to 2022, and lets continue as we mean to go on. GBP/AUD is now probing the 1.9000 handle with a possible continue higher into fresh highs for the year. 1.9500 is the overall upside target for the next coming months, but as we break the recent HH printed around 1.8920 we can expected some volatile action....

FTUKcom

Prior chart: Potential for slightly more downside into 1.1350 and then we should find a base around the 1.1400 handle heading into the month closure...

FTUKcom

EUR/USD as of lately has been relatively bearish on all timeframes trending south on a daily perspective. The next port of call for the pair seems to be firmly at 1.1400 heading into the final stages of this trading year. Whilst 2021 hasn't been so kind to the EURO, once we fulfil the base at 1.1400, this pair may struggle to go much lower and form as a base for...

FTUKcom

Prior chart: Gold along with all of the recent central bank news has played out well since our last post on it. The recent break above the daily resistance at 1805 is a prerequisite for a bullish continuation and we are now looking at $1,825 as the next upside barrier and profit taking level. Overall heading into the final stages of 2021, we can see more...

FTUKcom

Gold has recently shown some choppy behavior however price action above $1,750 per oz. looks relatively stable heading into the coming weeks. A movement and regrip of the $1,800 handle is looking likely with buying opportunity around the recent 4-Hour ascending trendline.

FTUKcom

USD/CAD has recently made another supportive rebound off the daily 200MA and 61.8% fib level. A possible drive higher on this pair over the next couple of days is possible into the highs of the candlestick bodies formed earlier this month. Daily moving averages have also remained pointing to the upside.

FTUKcom

Bitcoin early 2018 - $8,460 P/C - See image below of prior analysis over 3 years ago: ibb.co After many years of btc demanding all of the attention from many investment sources, it is now becoming a legalised form of legal tender in many countries now. With still a relatively short supply of 18,660,000 B, it is possible to correct ate some studies leading...

FTUKcom

Trades were pricing in more volatility for the BoC via a loftier implied 68 pip break-even, but in the event Usd/Cad only moved in the region of 40 pips, initially, as the Bank largely stuck to the script and rolled out a very similar accompanying statement to the previous one from July - bullets and a link to the full text available via the Headline Feed at...

FTUKcom

Some relative calm after the overnight storm for the Aussie that knee-jerked higher on the back of the RBA’s decision to press ahead with plans to trim bond purchases to Aud 4 bn/week from Aud 5 bn before recoiling in response to the decision to extend the QE timeframe to at least mid-February 2022 from mid-November this year due to a delay in the economic...

FTUKcom

Not much adverse reaction to a considerably weaker than forecast UK construction PMI, with Cable pivoting 1.3850. The Dollar is holding above Friday’s post-NFP lows and in index terms looking a bit more comfortable on the 92.000 handle having carved out a fractionally higher high, at 92.277 vs 92.262 ahead of the BLS report. However, the bounce appears...

FTUKcom

It’s probably far too premature to suggest that Dollar/major and EM pairs may have marked out boundaries for the big BLS release already, but the index looks pretty restrained having slipped into a lower range either side of 92.200 and just above the last fairly recent low ahead of 92.000. Thursday’s more encouraging US jobs data proxies have not made a lasting...

FTUKcom

The Yen that remains anchored around 110.00 following very dovish commentary from BoJ’s Katoaka. To recap, he stated that given economic developments bolder steps on monetary policy are needed, including an increase in bond buying to push short and long term rates down. Lots of pressure is now building up with this pair. Watch out for more manipulation...

FTUKcom

A marked change in fortunes for the Yen following its fleeting breach of 100 DMA resistance vs the Dollar yesterday, as EUR/JPY rebounds sharply through 130.35 and the 50 DMA alongside US Treasury yields amidst further bear-steepening and renewed risk appetite. The Yen may also be factoring in reports that Japanese PM Suga is preparing an economic package and...

FTUKcom

USD mixed ahead of Powell’s Jackson Hole meeting. With EUR steady in narrow trading on limited developments a drop is now to be expected if certain requirements are met. Looking for a break to the downside of 1.1730 would signify a much deeper move into the lows in the coming weeks with a more surprising downside moves heading into the later part of this year,

FTUKcom

Several Fed speakers are lined up to appear on CNBC before KC President George officially opens the annual JH event, but markets are waiting in anticipation for Chair Powell to deliver his speech on the economic outlook for any clues on further progress towards the substantial benchmark for igniting the taper that might come at September’s FOMC. Hence, the Buck...

FTUKcom

The Dollar has derived little or nothing from the hawkish leanings of Fed’s Waller who argues that with inflation running well above the 2% target an announcement on taper could come in September for an October start, and the FOMC should do it early and fast in order to be in position to increase rates in 2022, if needed. In fact, the Buck is still on the back...