Follow the latest analyses and key economic, financial, and global market news in this section. Our team reviews the most important market events daily and provides comprehensive insights for traders and enthusiasts.
Daily Pivots: (S1) 1.7703; (P) 1.7793; (R1) 1.7849; More… Despite some volatility, intraday bias in EUR/AUD stays on the upside at this point. Fall from 1.8155 could have completed at 1.7569 already. Further rise should be seen to 18155 resistance. Firm break there will argue that whole corrective pattern from 1.8554 has also completed and […]
The post EUR/AUD Daily Outlook appeared first on Action Forex.
Daily Pivots: (S1) 1.7703; (P) 1.7793; (R1) 1.7849; More… Despite some volatility, intraday bias in EUR/AUD stays on the upside at this point. Fall from 1.8155 could have completed at 1.7569 already. Further rise should be seen to 18155 resistance. Firm break there will argue that whole corrective pattern from 1.8554 has also completed and […]
The post EUR/AUD Daily Outlook appeared first on Action Forex.
Daily Pivots: (S1) 1.7703; (P) 1.7793; (R1) 1.7849; More… Despite some volatility, intraday bias in EUR/AUD stays on the upside at this point. Fall from 1.8155 could have completed at 1.7569 already. Further rise should be seen to 18155 resistance. Firm break there will argue that whole corrective pattern from 1.8554 has also completed and […]
The post EUR/AUD Daily Outlook appeared first on Action Forex.
Daily Pivots: (S1) 0.9290; (P) 0.9306; (R1) 0.9319; More… Intraday bias in EUR/CHF stays on the downside, as fall from 0.9452 is in progress for 0.9265 support. Firm break there should confirm that whole corrective rebound from 0.9218 has completed at 0.9452, and deeper fall should be seen to 0.9204/18 support zone. For now, risk […]
The post EUR/CHF Daily Outlook appeared first on Action Forex.
Daily Pivots: (S1) 0.9290; (P) 0.9306; (R1) 0.9319; More… Intraday bias in EUR/CHF stays on the downside, as fall from 0.9452 is in progress for 0.9265 support. Firm break there should confirm that whole corrective rebound from 0.9218 has completed at 0.9452, and deeper fall should be seen to 0.9204/18 support zone. For now, risk […]
The post EUR/CHF Daily Outlook appeared first on Action Forex.
The pound is sitting lower across the board, with it seeming to come from a more negative reaction to the UK jobs report here. Overall, it’s more of a mixed report and it does continue to point towards some further softening in the labour market. As mentioned then, the wage numbers might be more mixed at first glance. But at the balance, it still points to moderation in price pressures and keeps the BOE on track to cut rates; albeit not hurriedly I would say.
Still, we are seeing some light shifts in BOE pricing. The next full 25 bps rate cut is slated for March next year while odds of a move in February next year have gone up a fair bit. It’s interesting to see how traders are reacting here as I’d wager more focus should be put on the inflation numbers instead. That especially since ONS continues to struggle with accuracy on labour market data. But hey, that’s just me.
In any case, we are seeing GBP/USD slump further on the day in falling from 1.3340 to 1.3285 now after the report. The drop also comes after a rejection of the 100-hour moving average (red line) as sellers continue to keep a more bearish near-term bias for now.
This article was written by Justin Low at investinglive.com.
Markets Dip-buyers already emerged yesterday, encouraged by the US administration that kept the option for trade talks with China open over the weekend. Of the 3.4% stock slide in the US (Nasdaq) after Trump threatened a 100% levy on Chinese goods, some 2.2% was recovered. European equities rose about 0.7% (EuroStoxx50). The US dollar strengthened […]
The post Asian Stock Markets Missed the Risk-On Boat appeared first on Action Forex.
Gold is now dropping to just under $4,100 with the high earlier in the day touching $4,179 while silver is down over 2% on the day to near $51 after having hit a high of $53.60 earlier. It’s a quick and steep drop for both precious metals in the past hour or so with not too much of a catalyst so to speak.
The broader market mood remains on the defensive, so I’d be more inclined to lean towards profit-taking activity here. And even with the selloff above, it’s not really hurting the precious metals all too much. Both are still up roughly 2% on the week, at least for now. However, the drop perhaps does put some attention to the near-term charts though there is still some distance from testing the key hourly moving averages for both.
This article was written by Justin Low at investinglive.com.
End of content
End of content