Daily Market Analysis

In-depth technical & fundamental analysis for currencies & commodities

USD/JPY: a SELL opportunity
USD/JPY: a SELL opportunity

USD/JPY rose to the resistance of the 50-week MA at 106.00. The pair is not at the resistance line since the end of December.

EUR/GBP: bears eye 16-month-old support
EUR/GBP: bears eye 16-month-old support

The dollar gains against low-yielding currencies on Wednesday, hitting a five-month high against the yen as US bond yields jumped on the prospects of further economic recovery.

AUD is the strongest and JPY is the weakest
AUD is the strongest and JPY is the weakest

US stocks are seen edging higher Thursday, continuing the recent strong rally after Fed chief Jerome Powell reaffirmed that the central bank’s monetary policy will remain supportive for some time yet.

How about shorting the pound?
How about shorting the pound?

The level of 23.6% Fibonacci retracement at 1.3795 is in the focus on the H4. The next level to watch on the downside is 1.3755.

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Don’t waste your time – keep track of how NFP affects the US dollar and profit!

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