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 – NZDUSD hovers in Ichimoku cloud; gains some ground

Posted on September 11, 2020 at 9:14 am GMT

NZDUSD looks to be creating a floor inside the Ichimoku cloud and above the 200-period simple moving average (SMA). The RSI indicator is ticking marginally up near the neutral threshold of 50, while the stochastic posted a bullish crossover within its %K and %D lines following the bounce off the 20 level. Traders, however, would be more eager to engage in buying activities if the price manages to surpass the nearby 40-period SMA at 0.6687. If this is successfully breached, [..]

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. [..]

Technical Analysis – NZDUSD’s footing at 50-day SMA reinstates certainty in ascent

Posted on September 9, 2020 at 8:14 am GMT

NZDUSD has found a toehold at the Ichimoku cloud’s upper surface joined by the 50-day simple moving average (SMA) at 0.6612, after its pullback from the 13½-month peak of 0.6789. The progressing slopes of the 50- and 100-day SMAs appear to be assisting the positive structure. That said, the positive Ichimoku lines reflect the stall in the climb, while the short-term oscillators display the recent weakening in price. The MACD has dipped below its red trigger line slightly above the [..]


Technical Analysis – NZDUSD’s foothold near 50-MA rescues positive bias

Posted on September 4, 2020 at 11:03 am GMT

NZDUSD’s drawback from the 13½-month high of 0.6789 appears to be restoring positive sentiment, after finding some traction around the 50-period period simple moving average (SMA) at 0.6687. The advancing SMAs and the approaching bullish crossover of the 200-period SMA by the 100-period one may re-establish confidence in the climb. The Ichimoku lines seem to have paused their negative bearing, while the short-term oscillators display a pick-up in positive momentum. The MACD looks set on improving from the zero area, [..]

Daily Market Comment – ECB fires another salvo at the euro

Posted on September 3, 2020 at 8:19 am GMT

Euro/dollar extends correction lower after ECB officials raise the FX alarm Wall Street goes on a rampage as US government hypes a vaccine breakthrough Today: ISM non-manufacturing PMI, jobless claims, and central bank speakers ECB: The dollar’s unlikely hero The world’s most traded currency pair continues to drift lower, after the European Central Bank fired another verbal barrage to shoot the high-flying euro down. The latest media reports suggest “several” ECB officials are concerned that if the euro continues to [..]

Daily Market Comment – Manufacturing data revive dollar, ECB wary of euro

Posted on September 2, 2020 at 8:14 am GMT

Encouraging ISM data bring dollar back to life, Wall Street sets new records Europe enters deflation, ECB chief economist throws first jab at the euro Today: ADP jobs report and lots of central bank speakers    US manufacturing data give dollar the kiss of life A strong batch of US manufacturing numbers resurrected the dollar from the ranks of the dead and propelled Wall Street to another record high yesterday. The ISM manufacturing index jumped to its highest level in [..]

Technical Analysis – NZDUSD bullish at 8-month top of 0.6787  

Posted on September 2, 2020 at 6:50 am GMT

NZDUSD is continuing last week’s rebound with strong momentum, reaching eight-month highs at 0.6787 today and at the same time confirming the bullish tendency again. The short-term bias looks positive as the MACD keeps gaining ground above its red signal line, while the RSI seems to be making its way up above its 70 mark, though more progress is needed from the latter. However, the stochastics is looking overbought, as it turns lower above the 80 level. The 0.6940 resistance level identified [..]

Daily Market Comment – Sinking dollar lifts all FX boats

Posted on September 1, 2020 at 8:16 am GMT

Dollar breaks down across multiple charts, without a clear trigger Other major currencies climb alongside gold, Nasdaq hits new records Today: European inflation, US manufacturing, and Fed’s Brainard Dollar: The pain train rolls on There is no shortage of volatility in the FX arena. The world’s reserve currency continues to break down, in fear that the Fed’s new regime shift may succeed in driving inflation higher and diminish the greenback’s future purchasing power. The dollar index sank to a fresh [..]


Technical Analysis – NZDUSD’s ascent quickens; bullish signals enhance bias

Posted on August 28, 2020 at 11:45 am GMT

NZDUSD is fuelling the ascent from the 0.6487 level with its thrust above the high of 0.6690. The positive picture was aided by the strong bullish signals present in the rising Ichimoku lines and the short-term oscillators. Additionally, the approaching bullish crossover of the 100-period simple moving average (SMA) by the 50-period one may further boost the positive picture. The short-term oscillators reflect strengthening positive momentum. The MACD, deep in the positive section, is accelerating above its red signal line, [..]

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