Daily Pivots: (S1) 0.9329; (P) 0.9345; (R1) 0.9355; More… EUR/CHF dips mildly today but stays above 0.9311 support and intraday bias stays neutral. As price actions from 0.9311 are corrective looking, fall from 0.9452 is likely still in progress. On the downside, break of 0.9311 will target 0.9265 support next. For now, risk will stay […]
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The week kicked off on a positive note in Japan after the ruling LDP chose Sanae Takaichi as its next leader — she is now set to become the country’s next prime minister and is known for her preference for easy fiscal and monetary policies. Easier fiscal policy and more government spending are, of course, […]
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In focus today In the euro area, focus tuns to the August retail sales data and the October Sentix confidence indicator. The consumers have been cautious recently and retail sales will show if that persisted in August. It is expected that spending rose 1.3% y/y (0.1% m/m). The Sentix investor confidence indicator is expected to […]
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Daily Pivots: (S1) 1.3935; (P) 1.3954; (R1) 1.3968; More… Further rise could be seen in USD/CAD with 1.3895 support intact. But strong resistance is expected from 1.4014 cluster to complete the corrective rally from 1.3538. On the downside, below 1.3895 support will turn bias back to the downside for 1.3725. However, sustained break of 1.4014 […]
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Daily Pivots: (S1) 0.6589; (P) 0.6602; (R1) 0.6614; More… Intraday bias in AUD/USD remains neutral for the moment. On the upside, firm break of 0.6627 resistance will suggest that pullback from 0.6706 has completed as correction, after drawing support from 55 D EMA (now at 0.6554). That will keep the larger rally from 0.5913 alive […]
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Daily Pivots: (S1) 1.1717; (P) 1.1738; (R1) 1.1763; More… Intraday bias in EUR/USD remains neutral for the moment, and further fall is in favor as long as 1.1819 resistance holds. Break of 1.1644 and sustained trading below 55 D EMA (now at 1.1679) will indicate medium term topping at 1.1917, on bearish divergence condition in […]
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Daily Pivots: (S1) 1.3438; (P) 1.3462; (R1) 1.3502; More… Intraday bias in GBP/USD stays neutral at this point, and further decline remains in favor. On the downside, break of 1.3322 will resume the fall from 1.3725 to 1.3140 support. On the upside, though, firm break of 1.3535 will argue that pullback from 1.3725 has already […]
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Daily Pivots: (S1) 0.7938; (P) 0.7963; (R1) 0.7978; More… Range trading continues in USD/CHF and intraday bias remains neutral. On the upside, sustained trading above 55 D EMA (now at 0.8006) will suggest that rise from 0.7828 is already correcting whole fall from 0.9200. Further rise should the be seen to 0.8170 resistance and possibly […]
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Daily Pivots: (S1) 147.11; (P) 147.47; (R1) 147.84; More… USD/JPY’s strong rally and break of 149.95 resistance revived the case that corrective pattern from 150.90 has already completed at 145.47. Intraday bias is back on the upside for 150.90 first. Firm break there will resume larger rally from 139.87 to 151.22 fibonacci level. Sustained break […]
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Japan occupies the spotlight in otherwise subdued Asian trading, with much of the region quiet due to Mid-Autumn Festival holidays. Nikkei 225 jumped sharply to another record high, powered by euphoria surrounding Prime Minister-in-waiting Sanae Takaichi, whose pro-growth agenda and fiscal expansion plans have ignited investor optimism. That optimism came at the expense of the […]
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