PLUS1
Foreign Exchange
GBP/AUD Could Be Carving Out A Topping Pattern
25 Jun 2019 @ 18:10
GBP/AUD is making hard work on its rebound from the June low, suggesting the move is corrective. and a break lower could be on the cards whilst key resistance holds. Matt Simpson takes a technical look. GBP/AUD’s ‘rebound’ from support lacks momentum. We can see support has been found at the April and June lows […]
On Guard For A Dovish Hold From RBNZ | NZD/USD, NZD/JPY
25 Jun 2019 @ 18:08
RBNZ hold their OCR meeting less than 24 hours away. Whilst we expect they’ll hold, we suspect they may introduce a dovish tone, given the apparent ‘race to the bottom’ seen among the Fed, ECB and RBA recently. As we noted in previous reports, RBNZ signalled a cut in March before weak inflation data all […]
USD/CAD's Unwind Could Just Be Getting Started
21 Jun 2019 @ 17:36
With a long-term trendline broken and bears clearly back in control, the inflection point for the year has likely been seen. Just under two weeks ago, we outlined a case for USD/CAD to challenge long held views and perform a bearish reversal. At the time, it was resting precariously on its 2018 trendline, although the […]
USD/JPY: Resistance Zone Holds Ahead Of Key Fed Meeting
18 Jun 2019 @ 18:55
We’ve been patiently monitoring corrective price action on USD/JPY in hope of it confirming a swing high. With an FOMC meeting on tap, the meeting could spark the volatility required to make or break the bearish bias. We can see on the daily chart the USD/JPY has had a decent relationship with the 50% […]
EUR/USD Plunges Back Within Range Ahead Of Fed
17 Jun 2019 @ 19:19
EUR/USD Plunges Back Within Range Ahead Of Fed Stronger-than expected retail sales from the US saw EUR/USD break key support amid its most bearish session in seven weeks. This places it firmly back within range, where traders could look to fade into rallied below the 1.1265 area and target the 1.1100 lows. However, given 1.1100 […]
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16 Jun 2019 @ 20:54
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Cable Appears Unstable Below Resistance Cluster
13 Jun 2019 @ 18:30
GBP/USD is struggling to breach a strong resistance cluster. Given its bearish trend, we’re keeping a close eye out for a break lower. A retracement from the June low has stalled at a resistance zone The resistance zone between 1.2750 – 1.2773 comprises of the February low, a recent swing high and a 78.6% Fibonacci […]
Asia FX Handover: AUD/JPY Falls On Risk Aversion And Data Miss
13 Jun 2019 @ 18:24
AUD/JPY Falls On Risk Aversion And Data Miss Trump has opted to keep the $325 billion tariff on Chinese goods ‘open’, ahead of the G20 meeting, and says he expects to meet Xi this month. It’s also been reported Trump is to meet President Abe ahead of the G20 meeting. Trade tensions weighed on markets […]
AU Unemployment Miss Data Drives The Aussie Lower | AUD/JPY, AUD/USD
13 Jun 2019 @ 18:21
AU Unemployment Miss Data Drives The Aussie Lower Unemployment may have remained steady, but it’s not on track for RBA’s target, which is seeing a rise in calls for RBA to cut in July. Today was really all about the unemployment rate, which remained steady at 5.2% but missed expectations to fall to 5.1%. Were […]
Bears Circle GBP/JPY For Another Shot At The Lows
12 Jun 2019 @ 18:18
With the recent bouts of risk-off sentiment along with political woes and Brexit concerns for the UK, it’s no major surprise to see GBP/JPY under such heavy selling pressure. And, as noted in Monday’s COT report, the British pound has seen a pickup of short bets and closure of longs, whilst traders are now the […]
