Trade Successfully
This week will bring a raft of key data points out of the UK, including employment, inflation, and retail sales releases. Forecasts point to figures that are likely to confirm the UK economy remains on a solid footing. While a set of decent prints could help trigger a relief bounce
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AUD/JPY rises following rebound from 21-month low; strongly bearish in the near-term. AUD/JPY plummeted to a new 21-month low of 79.97 earlier today, slipping below the trading range of 84.50 – 80.60 that had been holding since February 9. The bearish scenario is further supported by the deterioration of the technical indicators and the negative aligned
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Gold trades around 17-month low in a short-term trading range. Gold prices have been developing within a sideways channel over the last ten days with upper boundary the 1217 resistance level, and lower boundary the 1204 support level. It is worth mentioning that the price recorded a fresh 17-month low of 1203.55 earlier on
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EUR/USD reaches 13-month low after significant sell-off move. EUR/USD sank to a fresh 13-month low of 1.1364 on Monday and opened the day with a gap down after the aggressive bearish session in the preceding week. The world’s most traded currency endorses the negative movement as it holds below the narrow
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GBP/JPY remains bearish after dramatic slump; records 11-month low. GBP/JPY is recording a stunning bearish run this week, touching a fresh eleven-month low of 141.04 on Friday. The aggressive selling interest drove the pair below the 20- and 40-simple moving averages (SMA) and the 143.20 key level, while the technical indicators suggest that
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USD/CAD creates an upside rally; could strengthen further in the short-term. USD/CAD started a rally to the upside after it formed a seven-week bottom at 1.2960 on Tuesday. The price crossed above the 20-day simple moving average (SMA) and the 23.6% Fibonacci retracement level of the up-leg from 1.2060 to 1.3385, around 1.3072. The
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Canadian employment numbers for July due on Friday at 12:30 GMT could add to the recent run of strong data for the North American economy. Jobs growth is expected to slow but remain solid in July, as the country enjoys a bounce in economic momentum amid strained relations with the
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The US will release its Consumer Price Index (CPI) data for July on Friday, at 1230 GMT. Forecasts point to another mild, energy-driven acceleration in consumer prices. While such prints could prove positive for the dollar on the margin, for the currency to clearly resume its uptrend, it may require
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The Japanese economy will be under the spotlight on Friday as Japan’s Cabinet Office publishes data on second-quarter GDP growth at 8:50 local time (Thursday, 23:50 GMT). A negative first quarter had put an end to a stretch of eight consecutive quarters of expansion. However, growth is expected to rebound
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NZD/USD touches new 29-month bottom; sharp sell-off continues. NZD/USD is posting an aggressive bearish rally over today’s session, recording a fresh 29-month low of 0.6641. The price plunged below the lower Bollinger Band in the 4-hour chart, suggesting an extension of the downward pressure. The momentum indicators are supportive of the negative picture,
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