Блог al_dcdemo

Avatar

Correction in Cable continues, PMIs not very helpful

Markets have been relatively sedate so far this week, at least major currency pairs. There was some movement in GBP/USD, which has continued its correction lower. Mostly weaker U.K. PMI readings and ever-present Brexit shenanigans haven't helped Cable.
Technically, the pair broke back below 2016 - 2017 resistance line and August high. 50.0% retracement of the August - September rally is holding for now. Area between 50 DMA and 61.8% retracement is the next downside target. On the upside, 1.3325 …
Читать
Перевести на Английский Показать оригинал
иличтобы оставить комментарий
Avatar

EURo looks heavy above 1.1150

Euro traded to a new seven-month high last week after weak U.S. inflation and retail sales data. The spike was reversed few hours later on hawkish FOMC decision. PMI data at the end of the week will be closely watched by market participants.
The pair has been trading sideways for about a month. December - May channel top, late May low and 1.11 big figure level combine to a strong support area, followed by 1.10 - 1.1050 (early May high, 50 DMA). 1.13 remains a formidable upside barrier.
Читать
Перевести на Английский Показать оригинал
иличтобы оставить комментарий
Avatar

Cable looks supported

Both Manufacturing PMI and Construction PMI came in stronger than expected last week. Today's release of Services PMI will show whether this pullback in business activity and sentiment is more broad based.
The pair broke above 50 DMA last week, for the first time after Brexit. It is currently trading at the upper end of its post-Brexit consolidation pattern. A hold above 1.3350 would put 1.35 into focus. 1.3275 is the initial support.
Читать
Перевести на Английский Показать оригинал
иличтобы оставить комментарий
Avatar

USD/CAD sells off on neutral BOC

USD/CAD sold off after BOC didn't cut rates and published neutral rate statement. Even though market wasn't expecting any cuts, apparently it was hoping for a bit more dovishness from them. EUR/CAD fell more than 150 and GBP/CAD 200 pips, with negative PMI data released in the morning weighing on both.
Читать
Перевести на Английский Показать оригинал
иличтобы оставить комментарий