08 Mar 10:50 - The AUD/JPY was one of the strongest performing currencies this week, with rates rallying over 440 pips from Monday's low to the post-NFP peak. This move was primarily by two developments: strong data out of Australia and growing risk appetite as geopolitical tensions showed signs of moderating. As we discussed
08 Mar 10:48 - Key Technical Bullets: A Falling Wedge Pattern has been forming since the beginning of 4Q 2013 Found repeated support into the 61.8% retracement October 2012 high Falling wedge has formed in the face of weakening bearish momentum (RSI) Broke above wedge resistance around 0.8280 earlier today Daily RSI confirmed the falling wedge break Yesterday's daily
07 Mar 21:07 - The Aussie broke above a key resistance level on Thursday following the release of some cheerful trade and retail sales figures out of Australia. Overnight, the AUD/USD extended its gains as it found additional buoyancy from a slightly less dovish speech by the Reserve Bank of Australia Governor Glenn Stevens.
07 Mar 17:27 - Today is a big day for the markets; the US NFP report will be released later at 13:30GMT. The expectations are 151K. Number above it will send the USD higher and EUR would reverse from resistance while figure around 130K or even lower with be ca catalyst for EURUSD move
07 Mar 17:18 - The pair moved to the upside yesterday and stabilized within the medium-term ascending channel that dominated trading since bottom 1.2756. Stabilizing above 1.3810 is positive and might extend the upside move. Breaching the previous top 1.3892 will gain the pair further bullish momentum.
07 Mar 17:17 - The pair maintained stability above 172.00 after trading positively Thursday, and that continues to support general positivity today and trading within the main ascending channel shown on graph. The pair finds upside support from the MA 50 100 although negativity on momentum indicators might force the pair to retest
07 Mar 16:15 - Although there were good reasons to believe that EUR/USD would not surge above 1.38, the currency pair approached the Dec 27 high and seems to be willing to remain on a bullish path for now. If this is the case, the next resistance to try to stop the advancement of
07 Mar 16:13 - GBP/USD continues to move north. Right now the currency pair is supported by the weekly PP and the 20-day SMA at 1.6695/91, but does not face any significant resistances. Accordingly, the chance of further Sterling's appreciation is increased. The selling will be expected to kick in closer to 1.69, when
07 Mar 16:12 - USD/JPY effortlessly pierced through a cluster of resistances at 102.89/78 yesterday. Now, being that the 55 and 100-day SMAs have already been breached, the price is set to challenge the next obstacle at 103.34/18, consisting of the weekly R2 and the 23.6% Fibo. Afterwards, if the bullish momentum is preserved,
07 Mar 16:11 - Being unable to weather the selling pressure triggered by proximity of USD/CHF to 0.89, the currency pair plummeted through the weekly PP down to the recent low. If the decline extends beneath 0.88, which is a high-probability scenario, the U.S. Dollar will then target the downward-sloping trend-line at 0.87. There