The Silver market had an active day to start off this week. Prices rallied up higher past the mean value and were quickly rejected. The rejection of higher prices was sharp, creating a long wicked 4 hour bearish rejection candle which eventually lead to a bearish rejection candle being printed on the daily chart at the … “Silver Knocks Back Higher Prices – Bearish Reversal Signal”
Month: July 2015
Near-Term Outlook for Canadian Dollar
The Canadian dollar has been performing rather poorly recently. Is it possible for the currency to turn its fortune around this week? The major event for the loonie (as the Canadian currency is nicknamed for the image of an aquatic bird on the $1 coin) will be the meeting of the Bank of Canada on Wednesday. While most analysts do not expect an interest rate cut, especially after the last weekâs better-than-expected employment data, a dovish policy statement … “Near-Term Outlook for Canadian Dollar”
Australian Dollar Driven by News from China & Europe
The Australian dollar ticked down against its US peer but gained on the euro and the Japanese yen during Monday’s trading. The currency was mostly driven by the news from Europe and China. News from China was relatively positive, showing that nation’s imports fell 6.1 percent in June versus the expected 15.5 percent. This is a good sign for the Australian economy that strongly relies on shipping goods and raw materials … “Australian Dollar Driven by News from China & Europe”
Loonie Drops vs. Greenback, Gains on Euro & Yen
The Canadian dollar dropped against its US peer on Monday as the news about the Greek bailout deal did not prevent the greenback from rallying. The loonie was stronger against other currencies, including the euro and the Japanese yen. The positive news from Europe did not deter the US dollar from rallying as traders now focus on the probable interest rate hike from the Federal Reserve later this year. Additionally, there … “Loonie Drops vs. Greenback, Gains on Euro & Yen”
USDJPY: Bullish, Faces Further Upside Threats
USDJPY: H With a follow through higher on the back of its Friday gain seen during Monday trading session, more strength is envisaged. On the upside, resistance resides at the 124.00 level with a turn above here aiming at the 124.50 level. A break will target the 125.00 level. Further out, resistance comes in at … “USDJPY: Bullish, Faces Further Upside Threats”
Euro Down Across the Board After Greek Agreement Announced
Euro is struggling today after the announcement that a deal has been reached with Greece in order to land another bailout. Even though the deal is supposed to prevent a “Grexit”, the reality is that the “aGreekment” may not actually go through and there are concerns about implementation. In what some see as capitulation by Greek Prime Minister Alexis Tsipras, an agreement to austerity measures has been reached, and European Union … “Euro Down Across the Board After Greek Agreement Announced”
US Dollar Index Gains Ground as Traders Look Ahead to Data
US dollar index is gaining ground today as Forex traders look ahead to what are expected to be positive data releases later this week. Greenback is trading a little mixed against its major counterparts, moving down against the pound, but the dollar index is higher. US dollar is getting a boost against the euro as the Greek drama once again takes center stage, even with … “US Dollar Index Gains Ground as Traders Look Ahead to Data”
GBP/USD: Trading the UK CPI July 2015
British CPI, released each month, is the primary gauge of consumer inflation and is keenly anticipated by the markets. A reading which is higher than the market forecast is bullish for the pound. Here are all the details, and 5 possible outcomes for GBP/USD. Published on Tuesday at 8:30 GMT. Indicator Background Analysts consider CPI one of … “GBP/USD: Trading the UK CPI July 2015”
Aussie Ends Week Soft, Losses Limited
The Australian dollar was relatively soft during the past trading week but fared somewhat better than it had been anticipated. The currency’s losses against the US dollar were limited, and the Aussie even managed to rise a little versus the Japanese yen. It was expected that the Australian currency would perform poorly during the trading week, and to some degree such expectations were correct. The currency sank after the Australian … “Aussie Ends Week Soft, Losses Limited”
AUDUSD: Strengthens, Maintains Recovery Tone
AUDUSD: With AUDUSD triggering a recovery higher, further bullishness is envisaged. On the upside, resistance resides at the 0.7500 level where a breach will aim at the 0.7550 level. Below that level if seen will set the stage for a run at the 0.7600 level with a cut through here targeting further downside towards the … “AUDUSD: Strengthens, Maintains Recovery Tone”