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EURUSD: More Upside Looks Possible

EURUSD: More Upside Looks Possible

EURUSD started the day lower today trading at 1.1260 after it failed yesterday to hold the 1.13 that breached after the ECB decision and comments from Mario Draghi. The ECB's governing council extended the forward guidance by another six months, meaning that rate hikes were no longer seen rising until [...]
AUDUSD: Bears are in Control

AUDUSD: Bears are in Control

Negative tone prevails for the AUDUSD pair during the forex trading session. Aussie fundamental data continue to disappoint investors. The Australia’s construction activity has seen its sharpest fall over six years in May. The total value of home loans fell in April by 1% with the result weighed by a [...]
DAX to Continue in Positive Momentum

DAX to Continue in Positive Momentum

The German Dax benchmark closed yesterday 0.23 percent lower to 11,953 despite dovish ECB. The ECB's governing council extended the forward guidance by another six months, meaning that rate hikes were no longer seen rising until "at least" mid-2020. Traders following news from the U.S. – Mexican trade conflict, as [...]
NASDAQ Ends Higher Just Shy of the 100 Day MA

NASDAQ Ends Higher Just Shy of the 100 Day MA

US equity markets finished higher today for fourth straight day, supported by a report that the United States is considering delaying imposing tariffs on Mexican imports. The S&P 500 added 17.28 points or 0.61% at 2843.42, the high reached 2852.10. The Nasdaq rose 40.08 points or 0.53% at 7615.55, the [...]
USDCHF Continues South Testing the Daily Low

USDCHF Continues South Testing the Daily Low

USDCHF is under heavy selling pressure after the pair breached the 50 hour moving average at 99.27 and now is trading close to daily low at 0.9886. The pair hit the daily low at 0.9879 and the high at 0.9960. The move today enhances the bearish outlook for the pair [...]
GBPUSD Trapped around 1.27 zone

GBPUSD Trapped around 1.27 zone

The pair is trading positive close to weekly high as the selling pressure in USD intensifies after Mario Draghi’s comments. Disappointing macro data released earlier showed that the US trade deficit narrowed to $50.8 in April but was slightly higher than $50.7 expected, and the initial weekly jobless claims remained [...]
EURUSD: All eyes in ECB

EURUSD: All eyes in ECB

Traders will be closely watching news from the ECB today and the comments from Chairman Mario Draghi during the press conference for clues about the central bank next move. The Eurozone economy expanded by 0.4% on quarter in the three months to March of 2019, matching the previous readout and [...]
USDJPY Retreats as Yen Gains Momentum

USDJPY Retreats as Yen Gains Momentum

Yen started the European trading session on strong foot today, after the pair yesterday hit the weekly high at 108.50. As of writing the pair is trading at 108.14 very close to daily low as traders fishing for safe heaven assets. We are waiting for comments from The Bank of [...]