tradingconmike

tradingconmike

The FX:NZDUSD is flat against the US Dollar (USD), early during Wednesday’s Asian session, ahead of the Reserve Bank of New Zealand (RBNZ) monetary policy decision. At the time of writing, the pair exchanges hands at around 0.6134, sitting above the 200-day moving average (DMA), suggesting the pair remains bullish. Given the backdrop, a hawkish stance by the...

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The FX:GBPJPY retreats on Tuesday by more than 0.20%, as the Japanese Yen (JPY) appreciated further against most G8 FX currencies. Market participants estimate that central banks in developed countries would cut rates, boosting the appetite for the Yen's safe-haven status and Gold. Therefore, the pair is trading at 187.24 after hitting a daily high of...

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FX:EURUSD advances further and reaches new monthly highs in the 1.0980/85 band on Tuesday. The continuation of the upward bias could see the pair challenging the psychological threshold of 1.1000. Beyond this level comes the August top of 1.1064 (August 10). So far, while above the significant 200-day SMA, today at 1.0812, the pair’s outlook should remain constructive.

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TVC:DXY extends the leg lower for the fourth session in a row on turnaround Tuesday. Further weakness in the index is expected to challenge the key support at 103.00 sooner rather than later. The loss of this region exposes the weekly low of 102.93 (August 30) ahead of another round level at 102.00. In the meantime, while below the key 200-day SMA (103.60), the...

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FX:EURJPY corrects further down and drops to four-day lows around 162.20 on Tuesday. The continuation of the downward bias carries the potential to drag the cross to the weekly low of 161.20/25 band (November 21) prior to the provisional 55-day SMA, today at 159.40. So far, the longer term positive outlook for the cross appears favoured while above the 200-day...

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OANDA:XAGUSD enters a bullish consolidation phase and oscillates in a narrow trading band just above mid-$24.00s through the first half of the European session on Tuesday. The white metal, however, remains well within the striking distance of a near three-month high touched on Monday and seems poised to prolong its recent strong appreciating move witnessed over...

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BLACKBULL:WTI is set to consolidate at around the $75.00-$80.00 range, after failing to decisively break the November 22 swing low of $73.85, which could have exacerbated a drop to $70.00 per barrel. That said, WTI’s success in registering a daily close above $75.00 could open the door to test the first resistance at the 20-day moving average (DMA) at $77.62...

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OANDA:XAUUSD finds itself trading into multi-month highs, looking to clear more topside space after climbing back over the $2,000 handle once more. Finding chart territory north of $2,000 has proven a challenge for Gold bidders after the XAU/USD dropped below the key level back in May, trading back into the year's lows near the $1,800 region. October saw the...

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FX:EURUSD climbs for the third session in a row and revisits the 1.0960 zone, or monthly highs, on Monday. The continuation of the upward bias could see the psychological threshold of 1.1000 revisited ahead of the August top of 1.1064 (August 10). So far, while above the significant 200-day SMA, today at 1.0810, the pair’s outlook should remain constructive.

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TVC:DXY retreats for the third consecutive session and approaches the area of three-month lows near 103.00 at the beginning of the week. In case sellers push harder, the breakdown of the November low of 103.17 should leave the door open to extra losses in the near term. That said, the loss of the weekly low of 102.93 (August 30) could put a potential visit to...

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The FX:GBPUSD pair kicks off the week in a positive mood above 1.2600, the highest level since late August during the early Europen session on Monday. The uptick of GBP/USD is bolstered by the stronger-than-expected UK S&P Global/CIPS PMI data for November and the softer US Dollar (USD). The pair currently trades near 1.2610, unchanged for the day. Technically,...

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FX:GBPJPY snaps four days of losses, climbs 0.31% in the late Tuesday North American session, and exchanges hands at around 186.00 after bouncing from daily/weekly lows reached at 184.45. The GBP/JPY daily chart portrays the pair as neutral biased, as the slope of the Tenkan and Kijun-Sen shifted flat, which could open the door for range-bound trading. On the...

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FX:EURJPY retreats for the fourth session in a row and visits multi-session lows near 161.20 on Tuesday. Further downside appears well on the cards for the cross in the short-term horizon. That said, losses could then accelerate to the provisional 55-day SMA at 158.93 ahead of the interim 100-day SMA at 158.07. So far, the longer term positive outlook for the...

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FX:USDJPY extended the losing streak that began on Thursday and marked an eight-week low, trading around 147.40 during the European session on Tuesday. The 147.00 psychological level emerges as the immediate support following the 38.2% Fibonacci retracement at 146.32. The US Dollar (USD) has plunged to a nearly three-month low, influenced by dovish expectations...

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FX:NZDUSD extends gains around three-month highs, trading around 0.6050 during the early European session on Tuesday. The selling pressure on the US Dollar (USD) continues, as there is increasing consensus that the Federal Reserve (Fed) has concluded its policy-tightening campaign. Market sentiment is now leaning towards the likelihood of rate cuts by the Fed...

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The FX:EURUSD pair trades in positive territory for the fourth consecutive day during the early European session on Tuesday. The weaker US dollar and lower US Treasury bond yields lend some support to EUR/USD. Investors will take more cues from the Federal Open Market Committee (FOMC) Meeting Minutes on Tuesday, which could potentially provide insights into the...

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The FX:AUDJPY post of four straight days of losses stays below the 97.50 area on Monday, breaking below a key support level at the time of writing. The AUD/JPY is trading at 97.24, down y 0.01%, as Tuesday’s Asian session begins. From a daily chart perspective, the pair is upward biased, but it fell below the Tenkan-Sen at 97.31, which could exacerbate a test...

tradingconmike

FX:EURUSD adds to the ongoing optimism and reaches a new three-month peak around 1.0940 at the beginning of the week. The continuation of the upward bias could see the weekly high of 1.0945 (August 30) revisited sooner rather than later. Once cleared, spot could challenge the psychological threshold of 1.1000. So far, while above the significant 200-day SMA,...