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The NZD/USD pair has been bearish since making the 2014-high at 0.8835 in July. The weekly chart below shows the sharp decline which became choppy in October through the middle of January. Then we saw another dip at the end of January until the ...
New Lows on the Year: This week, GBP/USD started with a couple sessions of consolidation on Monday and Tuesday but was on the move again on Wednesday (3/11). In the daily chart, we can see that price has now cracked the previous low on the year ...
WTI Crude oil has stabilized in January and climbed from the lows around 44 to highs around 54 in February. It has since been consolidating between 54 and 48. Let’s take a look at the charts as price action is threatening this consolidation range ...
The EUR/GBP has been bleeding consistently in 2015. After clearing 0.7750, which was around the 2012 low, EUR/GBP has accelerated to lows not seen since late 2007, almost 8-years ago! In the monthly chart, we can see that the decline started from ...
Last week, gold and silver were consolidating ahead of the NFP. Both metals had a bullish start to the year, but have retreated through February and was positioned to fall lower in March. However, traders wanted to make sure the NFP passed the test ...
Last week was a busy one, with the RBA, BoC, BoE, and ECB making their monetary policy statements. We ended the week with a US jobs report, which showed better-than-expected NFP employment change numbers and unemployment falling to 5.5%. However, ...
Gold (XAU/USD) and Silver (XAG/USD) priced in the US dollar, needless to say, depend significantly on the value of the USD overall. The market is waiting for tomorrow's US NFP to help determine the direction of the USD at least in the short-term. ...
Reversal? Not so Fast: Last week gold signaled a possible reversal with a double bottom. In the beginning of the week, we saw some validation of that double bottom, but as noted in the previous update on gold, the 4H chart still held bearish bias. ...
Gold has been sliding since late January, but found a potential price bottom last week. This week, we are looking at possible reversal off of that price bottom, so let’s assess the technical developments and assess the bullish scenario for the ...
As we start a new week and a new month, we will see some key fundamental factors out of the UK (BoE), Eurozone (ECB), Australia (RBA), Canada (BoC), and the US (NFP jobs data). Let’s take a look at these and many other key event risks for the forex ...
Bearish Channel: The EUR/AUD has been trading in a slightly declining channel throughout February. As we wind down the month, the pair is trading at the channel’s support. Let’s take a look at the charts to assess the technical outlook. Weak, Choppy ...
Today, we had a slew of economic data out of the US and Canada. Let’s take a look at these releases and assess the USD/CAD’s reaction as well as technical developments. From the US side of things, we saw the the headline inflation reading continues ...
In February, EUR/CAD has entered a range between roughly 1.4055 and 1.4340 as we can see in the 4H chart below. Note that the moving averages are moving sideways, a sign of a sideways market (though price action was enough to establish that.) The ...
The AUD/USD has been consolidating since making a low on the year at 0.7626 as we can see in the 4H chart below. We saw a second attempt to test 0.7626 that failed and price has since drifted higher. Bullish Breakout: Then, after another period of ...
Gold and Silver prices have been falling since late January. They both started the week falling further, but is entering the 2/25 session with double bottom attempts. Let’s take a look at the intra-day charts. The 1H gold chart shows that price ...
Backdrop: AUD/CAD has been bearish for most of 2014, from a high of 1.0350 made in April to a low of about 0.94 in late December. Since the turn of the year, the pair has rallied sharply to about 1.0050 before stalling again.Technical Picture: ...
The FOMC minutes revealed that the Fed indeed discussing measures to be taken in order to prepare for future rate hikes. However, the minutes also reveals a slightly dovish outlook towards the timing of the rate hike which most believe is mid-year. ...