Open trading account
GBP/USD broke above 1.40 yesterday. The big figure level coincides with the topside of the 2017 - 2018 trading channel. That probably means some selling, but a (sharp) spike above the channel top is not off the table. U.S. jobs & wages report later or tomorrow's ECB decision could be a catalyst.
Community Blog
Cable rally stalls into 1.30
The second leg of post-snap-election-call rally in Cable looks intimidated by the big figure at 1.30. Much better than expected Manufacturing PMI yesterday helped to put in a near-term bottom. A catalyst for a breakout or a failure may come from FOMC today, NFP on Friday or BOE next Thursday.
Positioning in the British Pound futures still suggests an extremely short market. That should give the pair some fuel on a successful break higher, which would target 1.31 initially and put 1.33 into focus…
Positioning in the British Pound futures still suggests an extremely short market. That should give the pair some fuel on a successful break higher, which would target 1.31 initially and put 1.33 into focus…
Aussie to continue bumping into resistance
Technical Tools
Support and resistance (S/R). Price levels, trendlines and Fibonacci retracements. Price action, candlestick and chart patterns. Simple moving averages (SMA). Commitments of traders (COT) indicator, which displays speculative positioning in FX futures market, used as a proxy for speculative positioning in spot FX market.
Weekly Chart
Aussie's attempt to crack the strong supply zone between 0.77 and 0.785 in November has been deflected by the intersection of 2013 - 2016 trendline …
Support and resistance (S/R). Price levels, trendlines and Fibonacci retracements. Price action, candlestick and chart patterns. Simple moving averages (SMA). Commitments of traders (COT) indicator, which displays speculative positioning in FX futures market, used as a proxy for speculative positioning in spot FX market.
Weekly Chart
Aussie's attempt to crack the strong supply zone between 0.77 and 0.785 in November has been deflected by the intersection of 2013 - 2016 trendline …
USDJpy
Right now there is just no catalyst to get the yen weaker. Unless we have some kind of news event, rumor, etc. this slow, inching is going to result sideways trading for a long time.