Technical Analysis – GBP/JPY gains some ground

GBP/JPY 03/08/18 | EconAlerts

GBP/JPY gains some ground; remains below moving averages in the near-term. GBP/JPY is trading slightly higher over the past few hours after the rebound on the 145.00 psychological level. The price is trying to gain some ground; however, it is still developing below the 20- and 40-simple moving averages in the 4-hour chart. The Relative Strength Index (RSI) is currently increasing […]

Market Focus on US Employment Report

suit and neck tie | EconAlerts

The US employment report for July will be released today at 12:30 (GMT). The Non-Farm Payrolls figure is expected at 190k while the previous figure was 213k. The unemployment rate is expected at 3.9% while previous reading was 4.0%. The average earnings growth rate is expected to remain unchanged at +2.7% YoY. Overall, if actual […]

Technical Analysis – USD/CAD turns to bearish correction

USD/CAD 03aug18 | EconAlerts

USD/CAD turns to bearish correction but maintains in an upward trend. USD/CAD formed a fresh seven-week bottom at 1.2974 on August 1 in the daily timeframe after the downfall below the strong obstacle of the 23.6% Fibonacci retracement level of the up-leg from 1.2060 to 1.3385, around 1.3074. The pair seems to be in a bearish correction mode […]

Technical Analysis – EUR/GBP looking bullish in the near-term

EUR/GBP 02/08/18 | EconAlerts

EUR/GBP looking bullish in the near-term; a weak trend in the medium-term. EUR/GBP has advanced considerably over the last few hours and jumped above the 0.8900 handle. Price action is at the momentum taking place above the 20- and 40-simple moving averages in the daily timeframe. The technical picture supports that the rebound on 0.8865 is likely […]

US jobs data in focus with trade “noise” making a comeback

US bank note | EconAlerts

The US jobs report for July is due on Friday at 1230 GMT, with the release widely viewed as the most important monthly print out of the world’s largest economy since the global financial crisis. Overall, a relatively healthy labour market is anticipated by analysts, with wage growth data again attracting the lion’s share of […]

Technical Analysis – NZD/USD in a trading range in the short-term

NZD/USD 02/08/18 | EconAlerts

NZD/USD drops below 23.6% Fibonacci; holds in a trading range in the short-term. NZD/USD has come under renewed selling pressure over the last couple of days, falling back below the 23.6% Fibonacci retracement level of the down-leg from 0.6686 to 0.7060, around 0.6775. Also, the pair is touching the lower Bollinger Band, however, it has not posted a fresh […]

Technical Analysis – USD/JPY remains positive in the medium-term

USD/JPY 02aug18 | EconAlerts

USD/JPY ready to touch ascending trend line; remains positive in the medium-term. USD/JPY has been moving lower since yesterday’s trading session following the pullback on the 112.15 level. The prices seem to be in progress to hit the medium-term ascending trend line as they slipped below the 20-day simple moving average (SMA). The short-term technical indicators are […]

BoE set to raise rates, but can the pound rally?

cash notes | EconAlerts

The Bank of England (BoE) is widely anticipated to raise its benchmark interest rate via a 7-2 vote on Thursday, at 1100 GMT. Such a move is practically fully priced in already and thus, price action in sterling will depend largely on the signals the Bank sends regarding the prospect of more rate increases before […]