GBP/USD falls to a new multi-week low on Friday amid prevailing bullish sentiment around the USD. The Fed’s dovish outlook and high US bond yields continue to lend some support to the dollar. The fundamental backdrop favors the bears and a drop to challenge the yearly low. The pair of GBP/USD moves sharply lower at […]
Tag: Majors
Dollar Extends Higher on Fed Aggressive Stance and Cautious Mood
This is what you need to know to trade today friday april 8: The dollar continued to gain strength against its main rivals and the US dollar index came within striking distance of 100.00 in the early hours of Friday, playing its highest level since May 2020. In addition to the hawkish FOMC minutes, comments […]
There is still room for a move to 1.0820 – UOB
The FX Strategists of UOB Group, Quek Ser Leang and Lee Sue Ann, noted that the EUR/USD could still drop to 1.0855 and then 1.0820 amid current negative outlook. 24 hour outlook: “We highlighted yesterday that the downward momentum had eased somewhat and this, coupled with still oversold conditions, suggested that the EUR was unlikely […]
USD/CAD rises but falls below 1.2600 on Ukraine-Russia conflict
USD/CAD is higher in the American session, up 0.38%. The war between Russia and Ukraine weighs heavily on sentiment as NATO and US officials have warned the conflict could drag on for years. USD/CAD Price Forecast: The pair remains biased to the downside, but a daily close above 1.2600 would add upward pressure on USD/CAD. […]
Trapped inside the 0.9300-49 range on risk aversion
USD/CHF falls in the American session, down 0.05%. USD/CHF Price Forecast: Range bound but if 0.9349 is broken, a move towards 0.9400 is on the cards. The USD/CHF remains dovish amid a choppy trading session as the pair hovers around the 0.9300-47 range, unable to break above Wednesday’s high of 0.9349, which means consolidation could […]
EUR/USD returns below 1.0900 as rising wedge targets 1.0700
EUR/USD falls during the American session, loses 0.09%. ECB Minutes lifted EUR/USD above 1.0900, but risk-off sentiment and Fed minutes dragged the pair below the former. EUR/USD Price Forecast: Breakout of a rising wedge opened the door towards 1.0700. The EUR trades sideways in the American session after reaching a daily high at 1.0938, courtesy […]
GBP/USD back in negative territory, challenges key support
The US dollar remains firm as US yields continue to rise. GBP/USD unable to recover, challenges 1.3050 area. Risk aversion also weighs on GBP/USD, Dow Jones falls 0.72%. The GBP/USD it reversed after reaching 1.3106 and during the American session it registered a new daily low at 1.3051. He is testing the critical support at […]
There is still room for a visit to the yearly low at 1.0805
EUR/USD finally manages to reverse the downtrend. More dips could cause the 2022 low to be retested. The EUR/USD records a moderate rebound after bottoming out at fresh lows near the 1.0860 region on Thursday. That said, immediately to the upside comes temporary resistance at the 55-day SMA today at 1.1156 ahead of the 1.1230 […]
USD/CAD flirts with 2-week highs around 1.2570, looks set to move higher
USD/CAD gained positive traction for the third day in a row and soared to a 2-week high. Oil prices languished near multi-week lows and undermined the commodity-linked Canadian dollar. The Fed’s dovish outlook continued to act as a tailwind for the USD and remained encouraging. The pair USD/CAD it maintained its offered tone during the […]
More raises aim for 100.00
DXY comes under pressure after hitting new cycle highs. Immediately on the upside comes the 100.00 mark. The US Dollar Index (DXY) is facing some downward pressure shortly after posting new highs in the 99.80/85 band, levels last seen in May 2020. Despite the current sharp rally, the price action around the index continues to […]
