Technical Analysis – USDJPY downside risks endure under SMAs and diagonal line

Posted on August 5, 2020 at 7:51 am GMT

USDJPY is following a downward trajectory despite efforts to recoup recent losses, mirrored in the stalled blue Kijun-sen line and the improvement in the MACD oscillator. The negative direction appears to persist backed by the gradual declining simple moving averages (SMAs) and the unbroken bearish tone of the Ichimoku lines, with a falling red Tenkan-sen line. The MACD, in the negative region, has pushed above its red trigger line while the RSI slowly glides lower in bearish territory. To the [..]


Daily Market Comment – Nasdaq conquers new heights as US infections slow down

Posted on August 4, 2020 at 8:37 am GMT

Stocks gain altitude on slowing contagion and encouraging data Most currencies trade in wide ranges, but go nowhere Overall, market focus remains on Congress, where little progress is apparently being made Nasdaq hits new records as tech keeps the dream alive Positive sentiment dominated financial markets at the onset of the new week, with global stock indices and risk-sensitive commodities like oil edging higher, powered by a persistent slowdown in US infections and some encouraging manufacturing numbers. America reported fewer [..]


Technical Analysis – USDJPY gives up gains after quick rebound

Posted on August 3, 2020 at 9:43 am GMT

USDJPY hit a bottom at 104.18 and bounced aggressively towards the 106.00 area in an attempt to return to its previous range. The price, however, could not sustain gains above that level, retracing back to the 105.00 territory instead. The 38.2% Fibonacci of the 108.15-104.18 downleg at 105.70 could not successfully block the way to the downside either despite restricting it earlier in the day, and the pair is currently looking exposed to the 23.6% Fibonacci of 105.12 and the [..]


Daily Market Comment – Dollar shrugs off ratings downgrade, RBA in focus

Posted on August 3, 2020 at 8:29 am GMT

Dollar rebounds on profit-taking and short-covering, despite Fitch downgrade – is this a dead cat? Stocks remain near highs as tech giants fly, next big move depends on Congress Australia tightens lockdown in Victoria, telegraphing dovish shift by RBA overnight Dollar shows signs of life, but is it just flows? The world’s reserve currency staged a comeback on Friday and continues to lick its wounds at the start of the new week, shrugging off a credit ratings downgrade by Fitch. [..]


Daily Market Comment – Dollar resumes slide; stocks struggle but tech bucks the trend

Posted on July 31, 2020 at 8:55 am GMT

Dollar slumps again as US economy crashes, heads for fiscal cliff Euro, pound and aussie catapult higher but yen’s jump raises eyebrows European and Asian shares skid but big tech earnings lift Nasdaq Dollar on track for worst month in decade The US dollar is headed for its worst monthly performance in nearly 10 years as economic and political woes in America increasingly undermine the world’s reserve currency just as the outlook elsewhere brightens somewhat. The US economy collapsed by [..]


Daily Market Comment – Tough stimulus talks weigh on markets; dovish Fed might help

Posted on July 29, 2020 at 8:32 am GMT

Dollar finds support from stalled stimulus talks amid splits in Congress Stocks struggle on poor earnings, stimulus delay; gold pauses rally Fed might bring some cheer if it reinforces dovish message Fiscal cliff worries mount as talks drag on Fears that the United States could be headed for a fiscal cliff undermined investor sentiment on Wednesday as Congress was no closer to reaching a deal on a new virus relief bill. An agreement before the month-end deadline is looking increasingly [..]


Technical Analysis – USDJPY plunges to 20-week low below 105.00

Posted on July 29, 2020 at 7:15 am GMT

USDJPY tumbled to a fresh 20-week low of 104.94 earlier today, completing the fifth negative session in a row. The price shifted the neutral picture to bearish in the short term, declining beneath the 61.8% Fibonacci retracement level of the up leg from 101.15 to 109.83 at 105.19. Further backing this short-term view are the downward slopes of the 20- and 40-day simple moving averages (SMAs). However, for now the technical oscillators reflect bearish signals. The MACD, in the negative [..]


Technical Analysis – USDJPY exits range area and tumbles to 4½-month lows

Posted on July 27, 2020 at 9:43 am GMT

USDJPY crashed out of the 118.15-106.00 range area and towards a 4 ½-month low of 105.37 on Monday, raising speculation that the sell-off may continue. The 38.2% Fibonacci retracement of the 112.1-101.17 downleg is currently supporting the market. But if it soon gives up, the price could decelerate to 105.00, while lower, the bears may pause around the 104.35 barrier, which is slightly below the 2019 trough. Meanwhile, the RSI and the stochastics in the four-hour chart look to have bottomed out [..]


Week Ahead – Fed meets as virus storm worsens; US and Eurozone set for historic GDP collapse

Posted on July 24, 2020 at 12:26 pm GMT

As US politicians squabble over the next fiscal stimulus bill and the country’s virus death toll ticks up again, markets may lean on the Federal Reserve next week for a quick fix. The Federal Open Market Committee (FOMC) meeting will undoubtedly be the most eagerly awaited event of the week. But second quarter GDP prints out of the United States and the euro area will not be far behind as the full extent of the economic shock from COVID-19 is [..]


Daily Market Comment – Concerns the US recovery is stalling ripple through markets

Posted on July 24, 2020 at 8:47 am GMT

Investors push the ‘risk off’ button amid faltering US recovery and monopoly probes into big tech Stocks pull back alongside commodity currencies, yen and gold climb But dollar can’t catch a break – strong euro and Fed expectations in play? Overall, this seems like a correction, not a trend reversal Risk aversion makes a rare comeback Global markets finally took note of the many risks around them on Thursday, amidst clearer signs that the US recovery is stalling, seething US-China [..]

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