Author: FX
United Overseas Bank’s (UOB) Senior Technical Strategist Quek Ser Leang notes that USD/CNH has broken higher, with momentum improving after Monday’s move to 6.8051 and a close at 6.8038. The bank now sees scope for a test of resistance at 6.8080 and potentially last month’s high at 6.8195, provided the pair holds above nearby support levels.Upside risk building above 6.8080″24-HOUR VIEW: USD rose to a high of 6.7998 on Monday. When USD was at 6.7945 yesterday, we highlighted the following: “Despite the advance, upward momentum has not increased much. However, USD could potentially rise above 6.8000. The major resistance at…
GBP/JPY’s upper Keltner Channel breach puts focus on whether buyers can sustain momentum or whether price snaps back inside the channel. Source link
FOMC Minutes: “A few” participants saw the case for raising rates !”#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz !”#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz Source link
Gold (XAU/USD) sees a sharp move lower on Wednesday after US President Donald Trump declared that the ceasefire deal with Iran was “over” during the NATO Summit in Ankara, Turkey. However, Reuters later reported that Trump did not repeat those remarks, citing a source familiar with the talks.At the time of writing, XAU/USD is trading around $4,040, retracing most of the gains recorded in the previous week.Tensions escalated after renewed fighting between the United States and Iran overnight, following attacks on commercial vessels near the Strait of Hormuz. Trump warned that the US would “probably hit them again tonight” and…
Trump declared the US-Iran ceasefire over after Iran struck ships in the Strait of Hormuz, sending oil prices surging 6% and rattling markets. Source link
The USD is higher vs the 3 major currency pairs – the EURUSD, USDJPY and GBPUSD. The move to a peace deal with Iran “is over” leading to a flight to safety moves. In the video above, I take a look at the technicals driving the 3 major currency pairs. What is the bias, the risks, the targets right now. In other news overnight, In Washington, Pres. Trump adopted a much more confrontational stance toward Iran, as the recent ceasefire and diplomatic efforts have unraveled. President Trump said he believes the Iran ceasefire is effectively “over” and suggested the memorandum…
The New Zealand Dollar’s (NZD) rally against the US Dollar (USD) has been short-lived, as the pair returned to sub-0.5700 levels during the European session after being rejected at the 0.5725 area earlier in the day. Market concerns about the status of the US-Iran ceasefire have hammered risk appetite, offsetting the positive Kiwi’s reaction to the Reserve Bank of New Zealand’s (RBNZ) hawkish hike.US President Donald Trump affirmed earlier on Wednesday that the ceasefire is no longer in effect, and that, in his opinion, the memorandum of understanding “is over,” although he added that negotiators can “keep talking if they…
The Non Repaint Support and Resistance Indicator MT4 was designed to solve that problem by keeping plotted levels fixed after they appear. Traders don’t have to wonder if yesterday’s support will disappear or if resistance will move after the next candle forms. Stable levels make trade planning much easier and reduce second-guessing during active market sessions.A reliable support and resistance tool doesn’t replace trading skills, but it gives traders a more consistent view of market structure. The sections below explain how this indicator works, where it performs best, and how traders can use it alongside price action to improve trade…
There are just a couple of expiries to take note of on the day, as highlighted in bold below.The first being for EUR/USD at the 1.1400 level. The expiries don’t tie to any technical significance but just like the ones yesterday, it could add another defensive layer to any downside price extensions in the session ahead.The dip earlier at the start of today saw price action test the figure level before bouncing a little now. As such, the expiries could add on to some bids layered at the 1.1400 mark to keep the currency pair from dropping off too much…
Gold prices rose in India on Wednesday, according to data compiled by FXStreet.The price for Gold stood at 12,620.82 Indian Rupees (INR) per gram, up compared with the INR 12,558.66 it cost on Tuesday.The price for Gold increased to INR 147,207.30 per tola from INR 146,481.70 per tola a day earlier.Unit measureGold Price in INR1 Gram12,620.8210 Grams126,208.70Tola147,207.30Troy Ounce392,560.30FXStreet calculates Gold prices in India by adapting international prices (USD/INR) to the local currency and measurement units. Prices are updated daily based on the market rates taken at the time of publication. Prices are just for reference and local rates could diverge…