USDCAD approaching resistance and graphical overlap resistance at 1.23280. Our entry is also in line with the 23.6% Fibonacci retracement level. With technical indicators showing room for further bearish momentum, a further drop towards long-term ascending trendline support and 61.8% Fibonacci extension level at 1.22627 could be possible. Any opinions,...
CADJPY approaching resistance, potential for reversal | 23 June
CADJPY approaching 78.6% Fibonacci retracement level which also finds confluence with graphical overlap resistance. An intraday drop below our entry at 90.094 towards our target at 89.303 and 38.2% Fibonacci retracement could be possible. Stochastic is testing resistance where price pulled back lower in the past as well. Any opinions,...
GBPUSD approaching pivot, potential for bounce|23rd June 2021
Prices are approaching ascending trendline support in line with horizontal pullback support in line with 78.6% Fibonacci extension and 61.8% Fibonacci retracement. Prices might push up towards horizontal swing high resistance in line with 61.8% Fibonacci retracement and 100% Fibonacci extension. If prices push down further, prices might take support...
NZDJPY facing bearish pressure|23rd June 2021
Prices are facing bearish pressure from descending trendline resistance in line with horizontal pullback resistance in line with 127.2% Fibonacci retracement. Prices might push down towards horizontal swing low support in line 61.8% Fibonacci retracement and 38.2% Fibonacci retracement. If prices continue to push up further, prices might face resistance...
Breakout Identified in EURUSD
The Breakout Opportunities system has just bought EURUSD at 1.19199. The system recommends entering this trade at any price between 1.191 and 1.19343. The signal was issued because the EURUSD has broken its 24-hour high while our Speculative Sentiment Index was at -1.37873, suggesting that the EURUSD may have further...
The Tidal Shift Strategy has just bought USDJPY at 110.739
The Tidal Shift Strategy has just bought USDJPY at 110.739. The system recommends entering this trade at any price between 110.626 and 110.852. The signal was issued because our Speculative Sentiment Index has hit its most extreme negative level for the past 145 trading hours at -1.236, which suggests that...
FX Update: Predicted low terminal Fed rate holding back the USD?
Long US yields are rangebound and the market has lowered its predicted end-point for the coming Fed rate hike cycle, which continues to take the sting out of the USD rally in the wake of the FOMC meeting last week. CEE currencies are all aglow after the Hungarian central bank...
The front part of the US yield curve is not done
Powell succeeded in calming and unnerved bond market. However, yesterday's 2-year US Treasury auction was disappointing following the 5bps hike in IOER/RRP rate. It leads us to believe that today and tomorrow 5-, and 7-year auctions might be vulnerable to investors' demand ahead of the personal consumption data. The divergence...
AUDCHF bullish breakout | 23rd June 2021
AUDCHF has just seen a bullish breakout from the descending trendline resistance-turned-support, and MACD is also now holding above the 0 line, showing potential for further bullish pressure. We could see price face further upside above Buy Entry level, in line with 38.2%, 50% Fibonacci retracement, 61.8% Fibonacci extension, and...
EURJPY facing bullish pressure | 23rd June 202
EURJPY is facing bullish pressure as it now holds above the moving average support. We could see further upside above Buy Entry level, in line with 38.2%, 61.8% Fibonacci retracement, and horizontal pullback support, towards Take Profit level in line with -61.8%, 78.6% Fibonacci retracement, and horizontal pullback resistance. Any...