Trade Successfully
The Reserve Bank of New Zealand will announce its latest policy decision on Wednesday at 2:00 GMT and after an aggressive cut at the last meeting, it is expected to stay on hold. Although some central banks have seen rate cut expectations recede somewhat during September, investors haven’t significantly altered
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EUR/USD maintains a bearish bias; moves lower beneath the trendline. EUR/USD bears moved the pair below the 1.1026 low of August 1 as well as the 1.1000 hurdle, which is the 23.6% Fibonacci retracement level of the down leg from 1.1411 to 1.0925. The price had deflected off the 1.1110 level where
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Gold retains ascending channel; looks neutral in the short-term. Gold managed to close slightly positive and above the 1,500 mark last week thanks to Friday’s rebound which found support around the bottom of the 4 ½-month old ascending channel. In the short-term, the precious metal could follow a sideways path as long as
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GBP/NZD’s nearly 2-month rally dries up ahead of May high. GBP/NZD after a decisive push north on September 13, fell inches short of the May high of 2.0020, plotting a shooting star suggesting the bears have taken control. The pattern was followed by an engulfing candle, backed by the momentum indicators reflecting
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GBP/AUD spikes to 4-month high; additional gains could be limited. GBP/AUD stretched Thursday’s impressive rally to a four-month high of 1.8492 on Friday and is ready to close the week up by 1.7%. The RSI has also picked up steam and is currently pointing towards its 70 overbought level, while the Stochastics
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USD/CAD bulls relaxed near the 200-day simple moving average (SMA) on Thursday, letting the price to slip back into the 1.3200 level. According to the RSI and the MACD, traders could behave neutrally in the short-term as the former hovers around the 50 mark and the latter is showing little strength around its
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NZD/USD still bearish, but forming a possible double bottom. NZD/USD bears are at the wheel and have steered the pair back on track with the medium-term negative picture. The price recovered on September 3, to hit a pothole at the 200-period simple moving average (SMA) on the four-hour chart, before the sellers
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FTSE 100 stock index (UK 100) holds onto bullish bias but is losing momentum. FTSE 100 stock index has been mostly on the sidelines so far this month, bouncing back and forth between the 38.2% and 50% Fibonacci retracement levels of the down-leg from 7,729 to 7,018. Interestingly, though, the price continues to
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EUR/GBP does not look ready for a meaningful rally yet. EUR/GBP seems to have reached oversold levels near the 200-day simple moving average (SMA) as the RSI is showing some positive movement after flatlining near its 30 oversold levels. The MACD and the red Tenkan-sen are also looking ready to change
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EUR/JPY recovery starts to lose steam; 50-SMA holds strong. EUR/JPY bulls retook control bouncing off the 119.00 handle, which is the 23.6% Fibonacci retracement level of the up-leg from 115.85 to 120.00 and where the restrictive 50-period simple moving average (SMA) also rests. The bears’ multiple attempts to breach below the 50-period
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