GBP/USD is witnessing moderate moves in a range on the last trading day of the week. Oscillators on the daily/hourly charts support the prospects for a break below the trading range. A sustained move above the 1.2600 level is needed to negate the short-term bearish outlook. The GBP/USD pair struggles to gain significant traction and […]
Tag: Majors
GBP/USD: Expected to move between 1.2430 and 1.2600 – UOB
GBP/USD is forecast to remain range bound between 1.2430 and 1.2600 in the coming weeks, say UOB Group currency strategists Lee Sue Ann and Quek Ser Leang. Key comments 24 hour view: “Yesterday we highlighted that ‘momentum indicators are turning neutral’ and expect GBP/USD to ‘trade sideways within a range of 1.2490/1.2590’. Our view on […]
EUR/UD is now facing tough support around 1.0540 – UOB
UOB Group currency strategists Lee Sue Ann and Quek Ser Leang point out that EUR/USD further declines are expected to meet strong support around the 1.0540 level short term. Key comments 24 hour view: “We were expecting EUR/USD to strengthen yesterday, but were of the opinion that ‘any advance will face strong resistance at 1.0750’. […]
NZD/USD falls to fresh three-week lows below 0.6400
NZD/USD falls to new three-week lows, despite the start of the RBNZ’s QT program. US initial jobless claims rose more than expected, but market players are focused on US inflation data. The RBNZ will start its Quantitative Tightening (QT) program with a rate of NZ$5 billion. The NZD falls for the fifth day in a […]
USD/JPY Price Analysis: Pulls back from two-decade highs towards 134.50
USD/JPY falls towards 134.00 as buyers take profits ahead of Friday’s US CPI. Sentiment remains negative as US stocks post losses. USD/JPY Price Forecast: The pair is leaning higher, but the negative divergence on the weekly/daily chart could open the door for a pullback towards 131.00. The USD/JPY pulls back from two-decade highs around 134.55 […]
GBP/USD approaches 1.2500 after US economic data.
British pound is holding on to weekly gains of 0.24%, awaiting key events in the coming week. Sentiment remains bleak, a GBP/USD headwind. GBP/USD Price Forecast: Buyers’ failure to recapture 1.2600 could open the door for selling pressure. GBP is falling for the second day in a row, after hitting a daily high near 1.2560, […]
USD/CAD recovers near 1.2650 after US data.
USD/CAD recovers some ground and is positive for the week, up 0.42%. The BoC’s Macklem said the Canadian economy is overheating and needs higher rates. USD/CAD Price Forecast: A Break Above 1.2700 Would Give Buyers Control; otherwise, a further drop is expected. The USD/CAD it rebounds from weekly lows around 1.2510 and advances strongly during […]
EUR/USD falls to 1-week lows below 1.0650 as USD strengthens
The euro under pressure after the ECB meeting and despite the rise in yields. US dollar gains momentum as market sentiment deteriorates. EUR/USD falls to test the 20-day simple moving average. The EUR/USD continued to fall during the American session and bottomed out at 1.0643 hitting a one-week low amid a stronger US dollar on […]
EUR/USD Price Analysis: Looks neutral/bearish in the short term
EUR/USD could not sustain the rally beyond 1.0770. The next target on the downside is the June low around 1.0630. The upward attempt EUR/USD induced by the ECB moderated on Thursday in the area of 1.0770. The pair’s inability to break above the 4-month resistance line near 1.0740 carries the potential to trigger a corrective […]
USD/JPY Price Analysis: Finding some support near the 23.6% Fibonacci around 133.35-30
USD/JPY corrects sharply from two-decade highs hit this Thursday. The intraday corrective pullback manages to find some support near the 23.6% Fibonacci. The technical situation warrants a short-term consolidation before the next rally. The USD/JPY pair has seen an intraday reversal from its highest level since February 2002 around 134.50 reached earlier this Thursday and […]