Currency

We thought this week would be a fairly quiet one in the world of currency… how wrong we were. UK Prime Minister Theresa May delivered a major bombshell on Tuesday morning when she announced the intention to hold a snap election on June 8th. The news sent shockwaves through the currency market and sent the […]

With demand for higher-risk currencies dropping in reaction to growing geopolitical tensions, the pound was able to hit new highs against currencies like the euro and US dollar. The GBP/EUR exchange rate advanced to €1.1821 – it’s highest levels since February – while GBP/USD approached $1.26. GBP/AUD stormed 0.7% higher as soon as markets opened […]

The EUR/JPY dropped 270 pips last week – having dropped roughly 730 pips since March 13, 2017. Our targets for last week were exceeded, as price closed below the supply zone at 115.50, aiming at the demand zone at 115.00. The targets for the next several trading days are located at the demand zones at […]

Wednesday’s UK wage data turned out to be slightly better than forecast, so the pound enjoyed a fairly strong day of trading. The GBP/USD exchange rate finally pushed above the key $1.25 level (hitting a high of $1.2575). Meanwhile, GBP/EUR held €1.1750 and GBP/AUD struck a new two-month high of AU$1.6710. GBP/NZD climbed a cent […]

Speculation would first seem to be one of the easiest things on earth because you might think of making money by hitting bid and ask buttons for trading instruments of your choice. Hitting bid and ask buttons can be learned by everybody, but it remains a mystery that doing this does not bring easy money. […]

Standard Chartered stock (LSE:STAN) is currently bearish, and it may go further and further south, despite massive gains it experienced in January 2017. Price is now below the EMA 21, and the Williams’ % Range period 20 is heading towards the oversold territory. There is a bearish signal in the market, which is expected to […]

After dipping at the tail end of last week, the pound spent Monday recovering losses. The GBP/EUR exchange rate firmed from €1.1705 to €1.1738, GBP/USD climbed from $1.2388 to $1.2429 and GBP/NZD bounced back from NZ$1.7825 to NZ$1.7886. GBP/AUD spent the day fluctuating between AU$1.6539 and AU$1.6583, but GBP/CAD closed Monday slightly lower as oil […]

The EUR/JPY dropped 110 last week, testing the demand zone at 117.50 many times without being able to breach it to the downside. Price has dropped about 500 pips since March 13, 2017 and further downwards movement is anticipated this week. One factor aiding the bearishness in the market is the weakness in EUR itself. […]

Here’s the market outlook for the week: EURUSD Dominant bias: Bearish In the context of a downtrend, this pair moved sideways from Monday till Friday, trending south on Friday. Price closed below the resistance line at 1.0600, going towards the support lines at 1.0550. Rallies in the market are supposed to be temporary in most […]

After a mixed day of trading the GBP/EUR exchange rate managed to just about hold €1.17 (although this was largely due to euro weakness). GBP/USD failed to climb back above the $1.25 level and GBP/NZD slid from its 2017 high, but GBP/AUD did push from AU$1.6471 to AU$1.6559. Meanwhile, a one-month high for oil prices […]