Technical Analysis – AUDUSD’s stamina preserves bullish bearing     

Posted on September 17, 2020 at 8:56 am GMT

AUDUSD, in spite of its recent stalling, maintains a sturdy positive structure above the simple moving averages (SMAs) and the Ichimoku cloud. Aiding the climb is the intact bullish drive in the Ichimoku lines and the robustness of the upward sloping 50- and 100-day SMAs. The short-term oscillators illustrate the recent pause in the pair, reflecting the reduction in positive momentum. The MACD, in the positive area, is carefully shadowing below its red trigger line, while the RSI is weakening [..]

Daily Market Comment – Investors heartbroken after Fed fires a blank, BoE next

Posted on September 17, 2020 at 8:23 am GMT

Fed commits to inflation overshooting regime, but delivers no new measures Dollar grinds higher, stocks in agony as investors expected heavier artillery Yet, this is probably not a game changer in the bigger picture Attention now turns to the Bank of England decision today Fed takes a small step back, markets throw a tantrum It was another eventful FOMC meeting. The Fed officially embraced its new inflation overshoot regime, albeit not unanimously. The vote was 8-2, with Kaplan and Kashkari [..]


Aussie ticks up ahead of employment data – Forex News Preview

Posted on September 16, 2020 at 5:56 am GMT

Australia’s employment data for July will hit the markets at 01:30 GMT on Thursday, following on from the Reserve Bank of Australia’s (RBA) meeting minutes on Tuesday. The economy is going through a very difficult period and is experiencing the biggest contraction since 1930. Consequently, the RBA’s board has reaffirmed its pledge not to increase the cash rate until progress is made towards full employment. Nevertheless, the aussie continues to move higher against the US dollar but may soon need a boost for stronger bullish movements.   Labour market conditions are [..]

Daily Market Comment – Dollar back under fire as risk appetite ramps up

Posted on September 15, 2020 at 8:12 am GMT

Equity markets stay green as Chinese data keep the positive mood going Dollar back on the chopping block, other currencies rejoice Sterling barely reacts to Parliament vote, but lots of drama ahead Is the correction over already? Global markets continue to dance to a risk-on beat, with US stock indices riding the vaccine hype train higher and the defensive dollar staying under fire. The positive mood was reinforced by the latest batch of data out of China overnight, which showed [..]


Technical Analysis – AUDUSD moves horizontally above the bullish cross of SMAs

Posted on September 14, 2020 at 9:21 am GMT

AUDUSD is standing above the developing bullish crossover within the 20- and 40-period simple moving averages (SMAs), ready to insert back into the Ichimoku cloud in the four-hour chart. Also, the price has been trading above the rising trend line drawn from July 24 despite moving horizontally over the last couple of days.  The technical indicators are flattening, with the RSI holding marginally above its 50 level and the MACD remaining muted around its trigger line. An extension to the upside and above the upper surface of the Ichimoku cloud could meet the area around the [..]

Daily Market Comment – Another dose of vaccine optimism calms market nerves

Posted on September 14, 2020 at 8:35 am GMT

Positive vaccine headlines bolster global risk sentiment Suga set to become Japan’s new leader – general election imminent? Sterling recovers amid calmer market tones, looks to Parliament Vaccine news breathes life back into stocks, dollar sleepy Wall Street hit a rough patch last week, as investors finally paused to assess the utopian valuations in the tech sector. Vanishing hopes for a new relief package out of Washington D.C. and news that some coronavirus vaccines might be delayed because of safety [..]

Technical Analysis – AUDUSD erases losses after hitting 40-day SMA

Posted on September 10, 2020 at 6:45 am GMT

AUDUSD has ticked up on Wednesday, paring the previous days’ losses, following the bounce off the 40-day simple moving average (SMA) at 0.7188. Currently, the price has been holding in an ascending movement since March 19, remaining above the Ichimoku cloud. The technical indicators are edging up as the stochastic posted a bullish crossover within its %K and %D lines after the rebound on the 20 level, while the RSI is flattening above the 50 level. Should the market extend [..]

Daily Market Comment – Tesla leads Nasdaq slump as tech rout deepens; dollar up

Posted on September 9, 2020 at 9:02 am GMT

Tech selloff broadens, hitting global equities; Wall Street plunges for third straight day AstraZeneca’s vaccine trial setback adds to negative mood Dollar and yen rise on growing risk aversion, but gold still directionless Pound extends slide as Brexit troubles weigh; loonie looks to BoC for support Is this the end of the tech rally? Equity markets were reeling on Wednesday from a third consecutive day of declines on Wall Street yesterday as big-name tech stocks suffered another major selling episode. [..]

Daily Market Comment – Pound hammered as no-deal Brexit fears return

Posted on September 8, 2020 at 8:48 am GMT

Brexit comes back to haunt the pound as Johnson raises the stakes Euro sticks to tight range ahead of Thursday’s ECB decision Stocks regain positive footing but dollar up as Trump talks China decoupling Pound slumps after Johnson threatens no deal Only five weeks left to reach a deal and Britain and the European Union are too busy posturing than negotiating, with Boris Johnson’s latest rhetoric once again raising the prospect of a no-deal Brexit. As the talks to agree [..]


Technical Analysis – AUDUSD weakens inside Ichimoku cloud; negative bias in near term

Posted on September 7, 2020 at 8:43 am GMT

AUDUSD has been underperforming in the past two trading days, breaking back below the key 0.7300 level. When looking at the bigger picture the pair has been holding in ascending movement since July 24.   On the 4-hour chart, prices rebounded off the 0.7220 support level but failed to jump above the 20-period simple moving average (SMA). Based on technical indicators, momentum is too weak to provide a sustained move higher. The RSI is below 50 and the MACD is [..]

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