Last Tuesday, the Australian dollar experienced its steepest drop of the year, falling by 1.18%, following higher-than-expected US inflation figures, which boosted the US dollar. However, the Aussie has since rebounded and is now trading at a two-week high against the US dollar. Investors are...
CHF/JPY has some potential
2019-11-11 • Updated
BUY 109.00; TP1 109.30; TP2 109.60
CHF/JPY formed a “bullish engulfing” pattern on the W1. On the smaller timeframes (D1 and H4), the price action very much resembles an inverted “Head and Shoulders” pattern. To aim for the bullish targets, the pair needs to overcome the resistance in the 108.85/109.00 area (moving averages on D1).
Notice that there’s some bearish divergence on H4, so a move lower seems likely before we see any attempt for higher levels. The return below 108.35 will open the way down to the 108.00 area.
What causes the yen to fall, and how does it behave against the USD, EUR, and AUD
Traders are closely monitoring Fed speeches, particularly Fed's Mester speech scheduled for Tuesday, for further insights into monetary policy directions. Additionally, market participants await key economic releases later in the week, including New Zealand's Unemployment Rate for Q4 and ...
The month of February saw markets make several instinctive moves as well as create opportunities for proper leveraging of fundamental releases. Despite being a leap-year, there wasn’t any real impact on price delivery in the course of the month. As we await the opportunities that lie ahead in the month of March, here are a few thoughts to consider.
USD/CHF saw a rebound after declining for two days straight, climbing towards the important psychological level of 0.8800 during Wednesday's early Asian trading session. There's some pressure on the Swiss Franc (CHF) as traders await the Swiss ZEW Survey – Expectations report scheduled for later today. Moreover, investors are keeping...
In the early hours of Tuesday, the US Dollar faces challenges in maintaining its strength against major currencies, with the US Dollar Index struggling to surpass the 104.00 mark. Investors are eagerly anticipating the release of key economic data, including January Durable Goods Orders and the Conference Board's Consumer Confidence Index for February. Additionally, the economic calendar includes reports...