Daily Market Comment – Hong Kong concerns keep risk aversion in play

Posted on August 13, 2019 at 7:57 am GMT

Safe havens shine and stocks retreat – mainly on fears about Hong Kong   Deteriorating political outlook in Italy likely adding to risk aversion Busy calendar today, with crucial UK, German, and US data coming up Stocks stumble on reports China may crack down on Hong Kong protests Risk aversion was the name of the game on Monday, as worrisome political headlines triggered another rotation away from risky assets like stocks, and into the safety of havens like the Japanese [..]


Technical Analysis – EURJPY short-term bias is still skewed to the downside

Posted on August 13, 2019 at 7:13 am GMT

EURJPY printed a new 2-year low at 117.50 on Monday and despite entering oversold territory  the bearish bias has not fully faded yet as the RSI continues to point downwards below 30, the MACD is extending its negative momentum under its red signal line and the red Tenkan-sen is distancing itself below the blue Kijun-sen. Trend signals are also viewed negative as all simple moving averages (SMA) are sloping downwards, with the price fluctuating comfortably below the lines. Should the [..]

Daily Market Comment – China exports rise helps markets stabilize; yen holds near highs

Posted on August 8, 2019 at 8:23 am GMT

Positive trade data out of China lifts sentiment but stocks recover only modestly Aussie and kiwi bounce off lows, US dollar struggles for direction Markets spooked by global slump in government bond yields; gold jumps China posts surprise increase in exports China reported unexpectedly strong export numbers on Thursday, adding some cheer to a gloomy market environment. Exports were up 3.3% annually in July, beating forecasts of a 2.0% drop. Imports also came in at a better-than-expected -5.6%, suggesting domestic [..]

Technical Analysis – EURJPY drops to 2-year low; fills the gap from April 2017

Posted on August 7, 2019 at 9:04 am GMT

EURJPY fell aggressively, after breaking below the 50-day simple moving average (SMA) and the 120.77 then support, further past the 120.04 inside swing low to a 2-year low of 117.66 in the last week. The move filled the gap from back in April of 2017. After a pullback, the price lost its steam and now sits on the middle Bollinger band. The MACD crossed above its red trigger line in the negative region but has started to flatten, whereas the [..]

Daily Market Comment – Fed’s ‘hawkish’ cut propels dollar higher; BoE next

Posted on August 1, 2019 at 8:03 am GMT

Fed cuts by 25bp, but appears hesitant to commit to more Dollar soars to two-year high versus euro, may have more room to gain for now BoE likely to adopt a more dovish tone at today’s meeting Stocks retreat after Fed, despite “constructive” trade talks Not-so-dovish Fed sends dollar soaring As expected, the Federal Reserve cut rates by 25 basis points (bp) yesterday, citing global growth and trade uncertainties coupled with muted inflation pressures as the driving forces behind the [..]


Technical Analysis – EURJPY trapped between the 50- and 100-SMA; Bollinger bands strengthen the barriers

Posted on July 31, 2019 at 8:36 am GMT

EURJPY is resting below the 100-day simple moving average (SMA) at 121.36 following the last week’s rally. This is slightly above the 121.30 level, which is the 38.2% Fibo of the down leg from the 123.35 high to a recently produced seven-month low of 120.04. The pair then found support again between 120.80, which is the 23.6% Fibo and 120.77, the five-month low of June 3. Price has moved sideways among the narrowing Bollinger bands and between the flat 50- [..]

Technical Analysis – EURJPY plummets to new 6-month low; bearish profile

Posted on July 24, 2019 at 6:31 am GMT

EURJPY is looking strongly bearish in the short-term after plunging towards a new six-month low earlier today, continuing its selling interest from April 15’s peak of 126.80. Prices dropped below the significant 120.75 barrier and the technical indicators are all pointing to further negative momentum. The RSI is heading downwards, approaching the oversold zone, while the MACD extends its bearish momentum below trigger and zero lines. Should the pair make another run lower, it is likely to meet support at [..]

Daily Market Comment – Pullback in dollar lifts all boats; risk aversion creeps back

Posted on July 18, 2019 at 8:00 am GMT

Dollar retreats as trade concerns fuel Fed rate cut bets Stocks drop, safe havens gain amid risk aversion  Aussie climbs after employment data UK retail sales due as pound recovers some losses Dollar grinds lower as July rate cut bets mount The world’s reserve currency retreated almost across the board on Wednesday and continues to surrender ground today, falling in tandem with longer-term US interest rates as worrisome trade signals prompted traders to boost bets for aggressive Fed rate cuts. [..]


Technical Analysis – EURJPY descends into a symmetrical triangle; nears lower boundary

Posted on July 17, 2019 at 8:45 am GMT

EURJPY slid down in the last week to near the lower boundary of a symmetrical triangle, that began almost two months ago on May 21, where the seller’s momentum evaporated. Today sellers are pushing down again heading for a retest. Following the price decline from the upper boundary to the lower boundary, the MACD moved to the negative area where both the MACD and trigger line flattened out. The RSI trended down and is currently flat but pointing slightly south [..]

Daily Market Comment – Sterling stumbles as no-deal Brexit fears strike back

Posted on July 17, 2019 at 7:48 am GMT

Pound touches 27-month lows as no-deal Brexit concerns resurface Dollar capitalizes, and may have more room to recover for now Oil sinks as Washington hints at “progress” with Iran Canadian inflation data coming up Sterling stumbles as no-deal worries wreak havoc The pound came under fire on Tuesday, falling by more than one big figure against the dollar to touch lows last seen in April 2017, as the risk of a no-deal Brexit popped back on the market’s radar. The [..]

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