Week Ahead – Tracking the recovery: is Europe lagging the US?

Posted on September 18, 2020 at 12:53 pm GMT

The latest flash PMI releases will dominate the economic agenda next week as the recovery in the United States appears to be picking up a gear, while the European rebound may have hit a snag. The tables have been turning lately in the US vs Eurozone recovery story, threatening to unravel the euro rally. Trying to predict the economic comeback from the pandemic will also be preoccupying policymakers at the Reserve Bank of New Zealand at their September meeting amid [..]


Technical Analysis – USDNOK finds the tools to overrun 18-year peak

Posted on February 18, 2020 at 2:05 pm GMT

USDNOK appears to have gained confidence and is currently pushing above the 18-year high of 9.3036. The current up move seems to be maintained by the upward sloping Ichimoku lines and the distancing of the red Tenkan-sen line above the blue Kijun-sen one. The short-term oscillators also suggest a pickup in positive momentum. The MACD, deep in the positive region, is barely below its red trigger line but looks to return above it, while the rising RSI has reclaimed the [..]


Technical Analysis – USDNOK sustains a bearish attitude, despite improving oscillators

Posted on January 7, 2020 at 1:28 pm GMT

USDNOK has stalled around the 8.7860 level – which is the 61.8% Fibonacci retracement of the up leg from 8.4664 to 9.3036 – something also reflected by the flattening of the Kijun-sen line. The short-term oscillators reflect a recent weakening in negative territory, suggesting a pause in the bearish market. The MACD is standing below its red trigger line and is flattening, while the rising RSI looks to exit the overbought region. However, the forthcoming bearish crossover of the 100-day [..]


Technical Analysis – USDNOK turns lower, heading for uptrend line

Posted on December 17, 2019 at 4:29 pm GMT

USDNOK seems to be eyeing lower levels, even though its attempts to push down are being restricted by the 8.9850 level, which is the 38.2% Fibonacci retracement of the up leg from 8.4664 to 9.3036 coupled with the low from September 24. The short-term oscillators, however, suggest some easing in negative momentum. The MACD has declined below the zero mark and is distancing itself below its red trigger line, while the RSI, currently in the bearish region, has marginally improved [..]


Technical Analysis – USDNOK’s positive picture watchful; sellers drive price below uptrend line

Posted on November 1, 2019 at 3:09 pm GMT

USDNOK sellers are in the process of penetrating below the 8.1055 support – which is the 23.6% Fibonacci retracement of the up leg from 8.4664 to 9.3036 – after already violating the uptrend line drawn from July 18. The short-term oscillators continue to reflect strengthening negative momentum as the price nears the 50-day simple moving average (SMA). The MACD, in the positive region, has declined below its red trigger line, while the RSI has crossed below its neutral mark into [..]


Technical Analysis – USDNOK uptrend is under pressure; short-term bias neutral-to-bearish

Posted on September 16, 2019 at 11:08 am GMT

USDNOK has created a lower low around 8.910 and a lower high at 9.010, putting its upward pattern that topped at a multi-year high of 9.162 into speculation. The 50-period simple moving average (SMA) in the four-hour chart is heading for a bearish cross with the 200-period SMA, signaling that a resumption of the positive trend may be difficult to be achieved. Meanwhile, in momentum indicators, the RSI and the MACD suggest that the next move in the price may [..]

Week Ahead – Central banks bonanza awaits: Fed might disappoint, BoJ could surprise, more Brexit blues for BoE

Posted on September 13, 2019 at 1:30 pm GMT

With the ECB meeting over, it’ll be the turn of other central banks to try and impress stimulus-hungry markets with no less than four major policy meetings still to come. The Bank of Japan, the Bank of England, the Swiss National Bank, and of course, the Federal Reserve will announce their decisions over the next seven days. Economic data will also make the headlines as Canada, Japan and the United Kingdom publish inflation stats, China releases industrial production and retail [..]


Technical Analysis – USDNOK logs 17-year high; corrects lower

Posted on August 21, 2019 at 12:49 pm GMT

USDNOK rallied up resulting in a breach of the previous high of 8.9906 from January 2016, generating a fresh high at 9.0413. Then the bears came on board and corrected the pair lower past 8.9906 and currently, the price has found some support at the flat Tenkan-sen average. Heading north are the 50-, 100- and 200-day simple moving averages (SMAs) reflecting a bullish bias. Although the sentiment is bullish, the momentum indicators which are in positive territory, paint a picture [..]


Week Ahead – Spotlight on ECB and BoJ as growth jitters persist; China GDP also eyed

Posted on January 18, 2019 at 12:40 pm GMT

The European Central Bank and the Bank of Japan will hold their first policy meetings of 2019 next week as concerns mount about a global downturn. GDP figures out of China could underscore the worsening outlook, while flash PMIs out of the Eurozone will also be watched for the latest glimpse on the growth picture. Jobs numbers will be in focus too as Australia and the UK publish monthly labour market stats. One event that isn’t expected to attract much [..]


European Open Preview – Risk sentiment sours; OPEC summit front and center

Posted on December 6, 2018 at 8:30 am GMT

Risk appetite crumbles as US arrests Huawei CFO, generating worries of re-escalation in the trade conflict Today, all eyes are on OPEC’s meeting (1200 GMT); expectations for a production cut are elevated Loonie nosedives to a 1½-year low as BoC shifts to a more cautious stance Risk appetite falters on fears of “trade war” re-escalation After a relatively calm Wednesday, risk appetite deteriorated once more during the Asian session on Thursday, following news that the CFO of the Chinese tech [..]

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