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<p>The Australian dollar dips further in Europe on Tuesday after hitting new 11-month high (0.7042) in Asia. The sentiment soured after China warned students going overseas about racist incidents targeting Asians in Australia during pandemic. Fresh weakness emerged after larger uptrend cracked former high at 0.7032 (31 Dec 2019) and increased

<p>The USD tended to nurse losses against a number of its counterparts, with commodity currencies gaining, yet JPY seems to have been the main beneficiary. The markets seem to continue to eye a recovery of the US economy and other parts of the world, as coronavirus worries tended to ease. It was characteristic that New […]

<p>Gold is extending its positive momentum following the bounce off the 1,671 support level, having surpassed the 20-period simple moving average (SMA) in the 4-hour chart. However, the structure in the short-term remains bearish despite the latest upside correction. In momentum indicators, the RSI is pointing up near its neutral threshold of

<p>The British pound is starting to correct lower against the US dollar after the greenback found strong buying interest during the European trading session. Short-term and medium-term GBPUSD bulls need to defend the 1.2650 level to avoid a drop towards the 1.2600 level. A bullish reversal pattern with over 300 points of upside pattern is [&h

<p>The euro currency has fallen sharply against the US dollar during the European trading session after bulls failed to hold the pair above the 1.1300 level. Sellers are now moving for a key test of critical weekly technical support, around the 1.1240 level. Traders should note that losses below the 1.1240 level exposes the EURUSD […]

<p>The cross accelerates further down on Tuesday after Monday’s 1% drop (the biggest one-day fall since 1 Aug 2019) completed Doji reversal pattern on daily chart. Increased demand for safe-haven yen ahead of Fed and overbought Euro vs dollar drive the pair lower. Fresh weakness (0.84% down since Asian opening today) took out initial support

<p>Yesterday, the XAU/USD exchange rate reversed north from the monthly S1 at 1,679.34. During Tuesday morning, the rate exceeded the 1,700.00 level. It is likely that yellow metal could gain support from the 55– and 100-hour SMAs in the 1,700.00 area and appreciate against the US Dollar in the short term. Meanwhile, note that the […]

<p>On Monday, the USD/JPY currency pair dropped to the 108.40 level. During today’s morning, the pair declined below the weekly S1 at 108.04. Given that the exchange rate is pressured by the 200-hour SMA and the Fibo 50.00% at 108.35, it is likely that some downside potential could prevail in the market. In this case […]

In recent weeks AUD/USD has been on a great run but over the last session, the price has moved lower by 0.84%. This is not as bad as things could have

The JOLTS report showed the number of job openings dropped in April to 5.05 million. Analysts at Wells Fargo point out the best thing about the job op