USD / JPY gains traction for the second day in a row on Tuesday, although it lacks continuation. A positive tone in the stock markets weighs on the Japanese yen and supports the upward movement of the pair. Moderate USD demand prevents bulls from opening new positions and limits the pair’s rally. The pair USD […]
Tag: Foreign exchange
GBP / USD is still facing stiff resistance at 1.3050
In the opinion of the FX strategists of the UOB Group, the cable is likely to operate with a slight downward bias and with resistance starting at 1.300. 24 hour view: “The sudden increase in volatility was a surprise, as the GBP reached a maximum of 1.3024 before falling rapidly at the end of the […]
Targets higher after bearish channel breakout on daily chart
The EUR / GBP daily chart shows a bullish reversal pattern. Key indicators favor an extension of Monday’s gains. EUR / GBP broke a five-week bearish channel on Monday, confirming the end of the decline from the 9/11 high of 0.9292 and a further turn to the upside. The breakout of the downtrend line represented […]
EUR / USD between 1.1690 and 1.1830 in the short term – UOB
The strategists of OUB Group now forecast that the EUR / USD will navigate within a range of 1.1690 and 1.1830 in the coming weeks. 24 hour perspective: “Our expectation that the EUR would trade sideways yesterday was incorrect as it peaked at 1.1793 before closing on a firm note at 1.1766 (+ 0.41%). The […]
AUD / USD extends losses and approaches three-week lows at 0.7055
The AUD / USD reversal from 0.7115 extends to the session lows at the 0.7160 area. The Aussie loses ground as market sentiment souls. The pair is approaching a three-week low at 0.7055. The Aussie is accelerating its downtrend from the highs of 0.7115 in the US session on Monday, as market sentiment deteriorated on […]
GBP / USD reversal from 1.3025 extends to 1.2960 zone
GBP / USD rally from 1.2880 has been capped at 1.3025. The pound moves back and forth with the news of Brexit. UOB currency analysts note significant resistance at 1.3050. The rebound of the British pound from Friday’s lows at 1.2880 has been capped at 1.3025 and the pair has lost momentum during Monday’s US […]
EUR / USD bounce from 1.1700 loses steam just before 1.1800
EUR / USD bounces from 1.1700 and consolidates below 1.1790. The euro cuts last week’s losses in a more optimistic market session. Below 1.1840, the EUR / USD pair is still negative: Rabobank. The euro-dollar has seen a solid recovery on Monday, driven by better market sentiment, to erase most of last week’s losses. The […]
At monthly lows, test levels below 1.0700
The kiwi extends the rally after the elections in New Zealand, registering the seventh consecutive daily gain against the Australian dollar. Consolidation below 1.0700 to clear the way to 1.0630. The AUD / NZD pair found no support and broke below 1.0700, opening the doors for further losses. The next target on the downside is […]
EUR / JPY clings to gains above 124.00
The euro maintains daily gains against the US dollar and the yen. EUR / JPY makes a strong rebound and climbs back above the 20-day moving average. The EUR/JPY extended the gain during the US session and hit a fresh six-day high at 124.33. It is consolidating earnings, having the best performance in almost a […]
AUD / USD retraces back below 0.7100 after Wall Street crash
Risk appetite wanes, weakening the NZD and AUD; CAD outperforms. AUD / USD moves away from highs, about to test the lows of the European session. The pair AUD/USD It peaked earlier at 0.7114, the highest level since last Thursday fueled by risk appetite and a weaker US dollar. After the start of the American […]