Author: FX
EUR/USD AND GBP/USD OUTLOOK:Euro and sterling begin the week on a positive note, bolstered by improving market sentimentU.S. dollar weakens amid lower safe-haven demandThis article analyzes key EUR/USD and GBP/USD tech levels to watch in the near term Recommended by Diego Colman Forex for Beginners Most Read: Gold Prices Sink as Yields Pop, Mood Improves, Bullish Momentum Exhausted for NowThe euro and British pound began the week on a bullish note, appreciating moderately against the U.S. dollar on reduced safe-haven demand. Heading into the Wall Street close, EUR/USD was up 0.33% to 1.0795, while GBP/USD was 0.5% higher, trading a…
AUDUSD chops up and down todayThe AUDUSD AUD/USD The AUD/USD is the currency pair encompassing the Australian dollar of the Commonwealth of Australia (symbol $, code AUD), and the dollar of the United States of America (symbol $, code USD). The pair’s rate indicates how many US dollars are needed in order to purchase one Australian dollar. For example, when the AUD/USD is trading at 0.7500, it means 1 Australian dollar is equivalent to 0.75 US dollars. The Australian dollar (AUD) is the world’s fifth most traded currency, whilst the US Dollar The AUD/USD is the currency pair encompassing the…
Share: EUR/USD came under pressure into late week. Economists at OCBC Bank expect the pair to recover if confidence among European bank bondholders is restored. Near term corrective pullback “Fragile sentiments may weigh on EUR in the interim but if concerns re EU banking sector prove short-lived (i.e. no material sell-off), then we should expect EUR to recover.” “Daily momentum remains mild bullish, but RSI shows signs of fading. Corrective pullback not ruled out in the near term.” “Support at 1.0730 (50-DMA), 1.0660/80 (21-DMA, 23.6% fibo retracement of Sep low to Feb high) before 1.0540 levels. Resistance at…
Frustration may be an occupational hazard for forex traders, as losses and even huge drawdowns can happen every now and then. This can result to self-doubt and a lack of confidence in one’s trading plan, which can then lead to overtrading or poor decision-making in an effort to make up for one’s mistakes. Reflect on your trading experience for a moment and think of an instance wherein you felt frustrated with your performance. Were you able to think clearly with your next trades? Did you take your losses personally and start questioning if trading is really for you? Traders are competitive by…
GBP/USD – Prices, Charts, and AnalysisFirst Citizen to buy Silicon Valley Bank.Sterling steadies around 1.2250 against the US dollar. Recommended by Nick Cawley Trading Forex News: The Strategy Most Read: British Pound Latest: GBP/USD Bullish Trend is Intact but Slowing DownFinancial markets received an early boost Monday after US bank First Citizen BancShares revealed that it had bought failed US lender Silicon Valley Bank. First Citizen bought around $72 billion of SVB’s assets and loans at a discount of $16.5 billion while the FDIC will hold around $90 billion of SVB’s assets.The European banking sector pushed higher at the open…
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Asian markets are much calmer today after another wild and volatile week, but bank angst and recession risk continue to linger. JPY is underperforming peers to start the week. US Stocks eked out gains on Friday, the USD recovered & Treasury yields fell across the curve, with all trading under 4%. Deutsche & Commerzbank lost -8.53% and -5.54% respectively. European and US FUTS are currently higher. First Citizens Bank will buy SVB from the FDIC, the Head of the IMF warns that global financial stability is at risk from banking turmoil, and the head of the…
Looking for breakout setups to explore this week? Intel is about to test a range resistance, GALA is in a tight triangle pattern, and EUR/AUD looks ready for a reversal. Check them out! EUR/AUD 4-hour Forex Chart by TradingView Last week’s events took EUR/AUD to the 1.6200 – 1.6250 area, which lines up with a high from earlier this month. What makes the pair interesting today is that it’s forming a possible Head and Shoulders pattern near the previous resistance area. Are we looking at a reversal in the making? Consistent trading below 1.6200 opens EUR/AUD up to a trip…
As bond yields have been hit heavily by a dual combination of safety bets amid the banking turmoil and market players pricing in a less aggressive Fed, that has helped to put a bid under the yen over the last few weeks. The supposedly more dovish rate hike by the Fed last week also isn’t helping and we saw USD/JPY come down to test the 130.00 mark on Friday.For now, the figure level is holding but that arguably owes to traders also drawing a key line in the sand in the bond market as noted here.At this point in time,…
Quite a lot of news broke last week, much of which influenced the value of the Forex pair EUR/CHF, such as the European Central Bank’s (ECB) monetary policy decision, the Credit Suisse saga, as well as worries about the strength of the global financial system. Rising interest rates around the world have indeed increased borrowing costs, which have led to unprecedented bank collapses and bank runs, as the recent news has shown regarding Silicon Valley Bank, Silvergate, Signature Bank, First Republic Bank in the United States, and Credit Suisse in Switzerland. And things are far from over this week, with…