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USD/CAD’s corrective rise from 1.3538 continued week. Initial bias stays mildly on the upside this week for 1.4014 cluster. But strong resistance should be seen there to complete the corrective rally. On the downside, below 1.3895 support will turn bias back to the downside for 1.3725. However, sustained break of 1.4014 will carry larger bullish […]
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GBP/JPY’s fall from 201.24 extended lower last week but recovered after hitting 197.47. Initial bias remains neutral this week first, but risk will stay on the downside as long as 200.49 resistance holds. Below 197.47 will target 195.01 structural support. Firm break there will indicate that rise fro 184.35 has completed, and possibly the pattern […]
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EUR/JPY’s steep pullback last week confirmed short term topping at 175.03, just ahead of 175.41 high. But the cross then recovered after hitting 55 D EMA (now at 172.25). Initial bias remains neutral this week, with risk staying on the downside as long as 175.03 resistance holds. Considering bearish divergence condition in D MACD, sustained […]
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EUR/GBP stayed in consolidations below 0.8750 last week and outlook is unchanged. Initial bias stays neutral this week first. On the downside, break of 0.8688 will extend the fall to 0.8631 support. Decisive break there will indicate near term bearish reversal. On the upside, though, above 0.8750 will resume the larger rally towards 0.8867 fibonacci […]
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Week in review A week that seemed like it might be a busy one from a data perspective did not deliver. Markets were braced for US jobs numbers and the NFP report which never arrived after the US congress failed to agree on funding. This led to a Government shutdown, something which occurred during the […]
The post Markets Weekly Outlook – Navigating the US Shutdown & Global Trends as Equity Markets Continue to Soar appeared first on Action Forex.
Canadian Highlights Canadian equity markets continued their ascent this week, although bond yields and oil prices sent a somewhat weaker signal about economic growth prospects. Canadian job markets have softened, which should downwardly pressure consumption moving forward. The Bank of Canada will be no doubt be closely watching the September Labour Force Survey report out […]
The post The Weekly Bottom Line: Shutdown Throws a Curveball at the Fed appeared first on Action Forex.
Summary United States: Employment Friday That Wasn’t The first Friday of the month has come, but since the U.S. federal government is shut down, it didn’t bring with it the latest read on the jobs market. The manufacturing and services sector purchasing manager surveys suggest activity held up at the end of the third quarter, […]
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