BackgroundBuyers have returned in USDJPY and the medium-term bull trend is set to continue. Monthly – For the last four months we have seen spikes in both directions highlighting the volatility in USDJPY. The fact that the Marabuzo level from November 2016 still holds (109.63) offers a mild bullish bias but we do need to…
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EUR/USD has remained bullish and rallied notably around 2.7% since May 15, helped by the recent slump in the USD. EUR/USD saw a correction on May 18, as a result of the rebound of USD. Friday morning, during early European session, EUR/USD rallies again and approaches the significant psychological resistance level at 1.1200. Currently, the…
Read moreThere are two upcoming events that are expected to impact the price of Oil; firstly, the Iran presidential election will be held today (May 19th) and secondly, the OPEC meeting will be held on May 25 in Vienna. The result of the Iran presidential election and the associated geo-political risks will likely affect its oil…
Read morePublished on 18.05.2017 22:49 The British pound broke through the $1.30 mark today, its highest level in 8 months and some believe that now the physiological barrier has been broken, we may see further gains. At 8.26pm (GMT) the British currency was trading at $1.2940 after reaching a high of $1.3048 earlier in the trading…
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NZD/USD has seen a substantial 6.22% retracement since February 7. Since the end of April, the downtrend has held above a significant support line at 0.6800, suggesting the bearish momentum has been waning. The price further broke the next psychological level at 0.6900 on Wednesday, as a result of the weakening of USD caused by…
Read moreThe Department of Justice has appointed former FBI head Robert Mueller to investigate whether Russia intervened during the 2016 presidential election. Recent reports from the US are indicating that the probability that Trump’s presidency will end this year is around 29% following the Russia leak scandal. Trump is now facing his biggest political crisis since…
Read morePublished on 17.05.2017 22:43 The pound has made a late recovery today in the European trading session after jobless numbers hit the market above expectations. The official unemployment rate released today from the UK came in at 4.6 percent, slightly above analysts’ expectations for a figure of 4.7 percent which was slightly undermined by the…
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There are two upcoming events that are expected to impact the price of Oil; firstly, the Iran presidential election will be held this Friday, May 19th and secondly the OPEC meeting will be held on May 25. The result of the Iran presidential election and the associated geo-political risks will likely affect its oil supply.…
Read moreIt was widely reported that President Trump shared highly sensitive information with the Russia Ambassador at a recent meeting at the White House putting further pressure on USD. During today’s early European session the dollar index hit the lowest level of 97.74 last seen back in November 2016, EUR/USD traded as high as 1.1121 a…
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DAX futures (JUNE 2017 contract is FDXM7, continuation contract is FDXc1) Yesterday’s candle is somewhat of a mixed message however the DAX bulls still have eyes on the all-time highs. An intraday all time high of just 3 ticks could not be sustained, closing above resistance at 12,790 but with a mildly negative daily candle.…
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