Forex Opinion & Analysis

Whilst most economists are now predicting further cuts by the RBA, some saying even the cash rate may drop to 1% (meaning another -75bps), this is putting some downward pressure on the AUD. As for the...

EUR/USDMain scenario:The pair is trading along a sideways trend between support 1.1215 and resistance 1.1260, where breakdown of 1.1215 will open downtrend target on 1.1150. Alternative scenario:An...

USD/JPYUSD/JPY is still trading below the initial resistance of 110.60-110.70 despite trading above moving averages 50 and 50 as seen on the provided daily chart. Strength of the upside recovery is...

AUD/USD holding above 7210 again re-targets 7231/35 then first resistance at 7254/58. We should struggle here again, but look for strong resistance at 7285/90 on further gains. Just be aware that...

The dollar may be a touch weaker this morning, but given how expectations have risen for a June rate hike – albeit at a 28% probability according to sovereign debt markets – we may simply...

GBP/JPY Daily OutlookDaily Pivots: (S1) 159.06; (P) 160.06; (R1) 160.60; With 162.80 resistance intact, outlook in GBP/JPY stays bearish. That larger down trend is expected to resume later. Break of...

Trading opportunities for currency pair: the GBP/CAD has an inverted cup with handle pattern forming on it. After a fall in the rate to 1.8855, a strengthening of the pound to 1.9640 is expected....

EUR/USD is steady on Monday, continuing the lack of movement which has characterized the pair since last week. The pair is trading at the 1.12 line in the European session. On the release front,...

The euro has been on a rollercoaster the past few weeks as it has dealt with all manner of sentiment swings as the US Fed ramps up their rate hike rhetoric. Subsequently, it makes sense to take a look...

Yesterday’s Trading:On Friday the euro/dollar renewed to 1.1237. The pair ditched the session maximum after US secondary market housing sales for April showed a 1.7% rise to 5.45 million homes....

The US dollar has posted steady gains for three weeks now. Ahead of an important week that will see US durable goods orders, revised Q1 GDP estimates and Fed voting member speeches including Fed Chair...

The EUR/USD remains flat at 1.1220 ahead of PMI data today. The euro was dipping lower on stronger dollar after rising concerns over Fed rate hike in June especially as policy makers claimed that June...

GBP/USD has been trading to the upside last week from 1.4330 so it appears that corrective wave two was a flat especially if we consider recent turn down from 1.4667 highs. Decline is quite sharp so...

CA BOC Interest Rate today is expected to keep rates unchanged as there are very little expectations for any surprises today, although recent wild fire in Canada is definitely not helping any rate...