Jump to content

News and Trade Ideas (CURRENCIES)


Recommended Posts

EUR/USD, GBP/USD and USD/JPY head lower, as havens gain ground

EUR/USD and GBP/USD head lower as the dollar strengths, although USD/JPY is also on the back foot as traders favour yen as a haven.

Yen and US dollarSource: Bloomberg
 
 
Joshua Mahony | Senior Market Analyst, London | Publication date: Monday 19 July 2021 

 

EUR/USD heading lower after recent retracement

EUR/USD is heading back down towards the $1.1772 support level this morning, with the pair building on the recent downtrend to post yet another deep retracement and subsequent sell-off.

With that in mind, we are looking for further short-term downside here, with a break up through the prior swing high of $1.1881 required to negate the ongoing bearish outlook.

 

EUR/USD chartSource: ProRealTime

GBP/USD breaks support to bring three-month low

GBP/USD has slipped below $1.3731 this morning, with the selling pressure seen on Friday carrying into a new week. That break brings us a fresh three-month low, although we could go further than that if price manages to break below $1.367.

That support level represents the next major threshold to overcome, below which we would be looking t a five-month low. For now, the break below $1.3731 provides a bearish continuation signal, with a rise through $1.391 required to bring a more bullish view.

 

GBP/USD chartSource: ProRealTime

USD/JPY falls back towards key support

USD/JPY has slipped back into trendline support, following a failed rebound which ended at the 61.8% Fibonacci resistance level. The subsequent pullback has taken us back down into a confluence of ¥109.71 and trendline support.

That looks likely to bring another bout of significant losses if broken. As such, watch for a move back below the ¥109.71 level to provide a fresh bearish outlook for the days ahead. Conversely, a break up through the ¥110.70 level would be required to bring a more positive outlook for the pair.

USD/JPY chartSource: ProRealTime

 

 

Forex-global-component-banner.jpg

See an FX opportunity?

 

 

 
Link to comment

EUR/USD, GBP/USD and AUD/USD likely to continue on bearish theme

EUR/USD, GBP/USD, and AUD/USD head lower, with intraday downtrend likely to continue as we reach multi-month lows.

EuroSource: Bloomberg
 
 
Joshua Mahony | Senior Market Analyst, London | Publication date: Wednesday 21 July 2021 

 

EUR/USD continues to grind lower following latest breakdown

EUR/USD has been grinding lower over the course of the week, with the pair building on the later 61.8%, retracement to fall back below the prior low of $1.1772.

There is a good chance we will see another upward retracement before long, yet the bearish trend remains in place, the price breaks through the recent peak of $1.185. Until then, we look likely to see further weakness to build on the downtrend seen over the course of June and July.

EUR/USD chartSource: ProRealTime

GBP/USD tumbles into a fresh five-month low

GBP/USD has continued to lose ground over the course of the week, with the breakdown below $1.367 bringing multi-month lows for the pair.

The hourly chart highlights the construct of this trend, with lower intraday highs key to seeing the downside continue. With that in mind, another leg lower looks likely here, with a break up through the $1.3689 required to negate the bearish outlook.

GBP/USD chartSource: ProRealTime

AUD/USD heads lower after latest retracement

AUD/USD has been on the back foot once more this morning, with the pair heading lower from a deep retracement overnight. With the price hitting a fresh seven-month low, there is a good chance we have seen the pair top out.

With that in mind, it makes sense to utilise the intraday charts to follow the ongoing selloff. As such, a bearish outlook holds as long as price remains within a pattern of lower highs. Thus, while another upward retracement is likely before long, a bearish outlook holds unless the price rises up through the $0.734 resistance level.

AUD/USD chartSource: ProRealTime

Forex-global-component-banner.jpg

See an FX opportunity?

 

 

Link to comment

EUR/USD and GBP/USD muted as USD/JPY moves higher

Today’s ECB meeting could provoke some volatility in euro pairs, while USD/JPY has benefited from revived risk appetite.

GBPSource: Bloomberg
 

 

 Chris Beauchamp | Chief Market Analyst, London | Publication date: Thursday 22 July 2021 

EUR/USD cautious ahead of ECB

Today’s the European Central Bank (ECB) meeting could well provoke some volatility, with a more hawkish view bolstering EUR/USD and helping it to make further headway after stabilising above $1.175.

A move higher targets $1.188 and then on to $1.194. A renewed bearish view requires a move back below $1.175.

EUR/USD chartSource: ProRealTime

GBP/USD struggles to bounce

GBP/USD witnessed a small recovery yesterday, bouncing back above $1.36, and recovering the 200-day simple moving average (SMA) $1.37.

Further, gains head towards $1.38 and then $1.39, the latter being the peak from mid-month. For now, the bearish view is weakened, and would need a move back below $1.365 to suggest a new move lower is beginning.

GBP/USD chartSource: ProRealTime

USD/JPY makes further gains

The recovery of USD/JPY continues, with the price rallying over the past two sessions and bolstering the bullish view.

Yesterday saw the price move back above trendline resistance from the July peak, suggesting further bullish momentum is at hand, targeting ¥111.00 and then ¥111.65.

USD/JPY chartSource: ProRealTime
 
 
 
 
 

This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.

Link to comment

EUR/USD, GBP/USD and AUD/USD expected to reverse lower after retracement

EUR/USD, GBP/USD, and AUD/USD look likely to head lower following a period of counter-trend gains. Video link click here.

Forex-global-component-banner.jpg

Joshua Mahony | Senior Market Analyst, London | Publication date: Friday 23 July 2021 

EUR/USD grinds lower after brief ECB pop

EUR/USD managed to pop into a brief 76.4% retracement after yesterday’s European Central Bank (ECB) meeting, providing a fresh selling opportunity for those with a keen eye.

The downtrend does still remain intact despite that brief spike, with the price falling short of the key $1.1851 swing-high. With that in mind, further downside looks likely from here. A break up through the $1.1851 level would be required to negate that bearish view.

EUR/USD chartSource: ProRealTime

GBP/USD rolling over after upward retracement

GBP/USD is on the back foot this morning, with the pair looking at risk after a period of gains seen throughout Wednesday and Thursday.

The downtrend remains in play unless price breaks up through the $1.391 level. As such, there is a good chance we see the bears come back into play following this 61.8% Fibonacci retracement.

GBP/USD chartSource: ProRealTime

AUD/USD weakening from trendline resistance

AUD/USD has similarly been trying to regain ground of late, with price rising into a somewhat mid-sized retracement level.

Despite that, we have seen a move into a descending trendline, which does highlight the potential to move lower once again here. There is a good chance that we will see the bears come back into play here, with any short-term upside perceived as a retracement unless the price rises through the $0.7503 swing-high.

AUD/USD chartSource: ProRealTime
Link to comment

EUR/USD, GBP/USD and NZD/USD remain within downtrend despite recent gains

EUR/USD, GBP/USD and NZD/USD show potential to move higher, but wider downtrend highlights potential for another move lower.

NZDSource: Bloomberg
 

 

 Joshua Mahony | Senior Market Analyst, London | Publication date: Monday 26 July 2021 

EUR/USD maintains its gradual decline for now

EUR/USD has been grinding lower over the course of the past month, with the declines becoming harder to come by as we move closer to the key March low of $1.1704. That lack of momentum does raise the risk of an upside move before long, yet we would need to see the price break out of this trend of lower highs for that to come into play.

With that in mind, the current rise could bring about another retracement after the 76.4% pullback on Thursday. A rise up through that $1.183 level would provide the first sign of a potential bullish reversal. Until then, short-term upside could bring another retracement into play before we continue to grind lower.

EUR/USD chartSource: ProRealTime

GBP/USD rallies into Fibonacci resistance

GBP/USD has been regaining ground since Tuesday’s low, with the price rising into the 61.8% Fibonacci level on Thursday.

The consolidation seen since then could simply set the scene for another move higher today, although we would need to see the price break through the $1.391 resistance level to bring an end to the bearish trend seen over June and July.

GBP/USD chartSource: ProRealTime

NZD/USD consolidates around Fibonacci and trendline resistance

NZD/USD has been consolidating around the 61.8% Fibonacci resistance level of $0.6982, with the price trading within a wider downtrend over the course of the last two months.

That informs us that we could see the price reverse lower to continue the trend of lower highs. As such, while we could see a short-term rise, we would need to see a rise up through the $0.7044 level to end the trend of lower highs and bring a wider bullish outlook into play.

NZD/USD chartSource: ProRealTime
Link to comment

EUR/USD, GBP/USD and NZD/USD weaken from Fibonacci resistance

EUR/USD, GBP/USD and NZD/USD turn lower after posting a deep 76.4% Fibonacci retracement.

 

 

 Joshua Mahony | Senior Market Analyst, London | Publication date: Tuesday 27 July 2021 

EUR/USD turning lower from latest retracement

EUR/USD has managed to post yet another 76.4% Fibonacci retracement, with the pair heading lower once again. This highlights how the trend seen over the course of the past two months remains worth following.

While the trend is very shallow in nature, that does bring a higher likeliness of a deep retracement. As such, a bearish outlook holds from here, with a push up through the prior swing-high of $1.183 required to negate that downside bias.

EUR/USD chartSource: ProRealTime

GBP/USD turning lower after 76.4% retracement

GBP/USD has started to lose ground in early trade today, following the rally into the 76.4% Fibonacci resistance level at $1.383.

With a wider bearish trend playing out over recent months, there is a good chance we see further downside from here. A rise up through the $1.391 level would be required to negate that outlook.

GBP/USD chartSource: ProRealTime

NZD/USD slumps after deep pullback

NZD/USD has similarly turned lower after a 76.4% Fibonacci retracement yesterday.

The wider downtrend points towards such a move coming into play, with a rise through $0.7045 required to negate that bearish outlook. Until then, further weakness looks likely from here.

NZD/USD chartSource: ProRealTime
Link to comment

Join the conversation

You are posting as a guest. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

  • General Statistics

    • Total Topics
      15,677
    • Total Posts
      74,999
    • Total Members
      63,049
    • Most Online
      7,522
      10/06/21 10:53

    Newest Member
    Scorpiosyd
    Joined 27/07/21 15:11
  • Posts

    • GlaxoSmithKline Q2 revenue is expected to show revenue growth from newer drugs partially offset by increased generic competition in older drugs. Source: Bloomberg   Shares GlaxoSmithKline Price Revenue Vaccine Earnings before interest, taxes, depreciation and amortization  Shaun Murison | Senior Market Analyst, Johannesburg | Publication date: Tuesday 27 July 2021  When is GlaxoSmithKline earnings date? The GlaxoSmithKline (GSK) earnings release date is scheduled for the 28 July 2021. The scheduled results will cover the groups second quarter and half-year earnings.   GSK results preview: What does the street expect? While GlaxoSmithKline (in partnership with Sanofi Pasteur) look to stage three trials of their Covid-19 vaccine, the company has not yet released a vaccine to market. The global rollout of Covid-19 vaccines (by competitors) looks to have disrupted the course of other vaccine programmes in key markets such as the US and the UK for GSK. Revenue for second quarter (Q2) 2021 is expected to be bolstered by sales of newer drugs in the respiratory and HIV segments, with a partial offset from older drugs which are finding increased competition through generic offerings. In terms of the upcoming results, a mean of analyst estimates compiled by Refinitiv data arrive at the following: Revenue $10.433 billion (+10.27%) year on year (YoY) Earnings before interest tax depreciation amortisation (EBITDA) $2.855 billion (-8.91% YoY) Earnings per share (EPS) $0.51 (+10.87% YoY) How to trade the GlaxoSmithKline results   Source: Refinitiv   A Refinitiv poll of analyst ratings arrive have a long term consensus rating of ‘buy’ for GlaxoSmithKline with a target price $47.87. GlaxoSmithKline (ADR) share price: technical analysis   Source: IG The share price of GlaxoSmithKline continues to trade in an uptrend which has been in place since the beginning of March 2021. The price has however started to correct from near term highs. The correction sees the price now testing support at the 38.85 level. Traders looking for long entry might prefer to see a bullish price reversal around current levels accompanied by a sharper move out of oversold territory by the Stochastic oscillator. In this scenario, the recent high at 40.55 would become the initial resistance target, while a close below 38.35 could be used as a stop loss consideration for the trade. However should a bullish price reversal not manifest and we see the price move to close below both the 38.85 and 38.35 support levels, this could instead be a suggestion that the uptrend has failed and perhaps a new downtrend for the share price is forming. In Summary GSK reports Q2 2021 results on the 28 July Q2 revenue of $10.433 billion (+10.27% YoY) is expected Q2 EBITDA of $2.855 billion (-8.91% YoY) are expected EPS $0.51 (+10.87% YoY) in the Q2 are expected The average long term broker rating for GSK is a ‘buy’ The share price of GSK is testing support as it finds itself in a short-term correction of a longer-term uptrend
    • Alibaba continues to enjoy strong revenue and customer growth, but the decline in its stock price reflects a bleaker outlook thanks to the actions of the Chinese government. Source: Bloomberg   Shares Alibaba Group China Investor IPO Price  Chris Beauchamp | Chief Market Analyst, London | Publication date: Tuesday 27 July 2021    When is Alibaba’s earnings date? Alibaba reports earnings on 3 August, covering its fiscal first quarter (Q1). Alibaba earnings – what to expect Alibaba is expected to report revenue of $32 billion, with earnings per share of $2.24. Alibaba continues to enjoy excellent growth, achieving one billion customers in the 2021 financial year (FY2021), with the vast majority of these based in China. Profit margins and revenues have risen at a steady pace in every year since 2013, at 10% and 23% respectively. However, for Chinese tech shares such as Alibaba, the main concern is no longer business performance, but the attitude of the Chinese government instead. The cancellation of the Ant Financial initial public offering (IPO) and the current clampdown on tutoring stocks points towards a much more restrictive approach to the private sector. As many could have predicted, the culture clash between free market capitalism and the controlling instincts of the Chinese Communist Party has begun anew, with the Party determined to rein in the perceived excesses of the free market. This is a situation unfamiliar to many investors, unused to the impact of government interference on most companies except in relatively isolated circumstances, and accounts for the underperformance of Chinese shares, with Alibaba no exception. Find out more on how to buy, sell, and short Alibaba shares Alibaba broker ratings A total of 17 analysts currently rate Alibaba as a ‘strong buy’, with 30 more at ‘buy’. Three analysts have a ‘hold’ rating, and only one ‘sell’. Alibaba stock – technical analysis The direction in Alibaba stock is clear for the time being. Rallies have been regularly sold, with the latest bounce in late June running into the 100-day simple moving average (SMA), currently 22,225. With the macro outlook so unfavourable the stock continues to reflect investor caution, so it looks like further declines are on the cards as the price targets 18,000 and lower.   Source: ProRealTime A solid business, but outlook continues to darken Alibaba has plenty to commend it from a fundamental perspective, but with Beijing adopting an activist position the stock continues to decline. Investors might argue that this means Alibaba is becoming a bargain, but traders will want to see a turnaround in the price, which is unlikely to happen unless the Chinese government reduces its interventions.
    • EUR/USD, GBP/USD and NZD/USD weaken from Fibonacci resistance EUR/USD, GBP/USD and NZD/USD turn lower after posting a deep 76.4% Fibonacci retracement.   Forex NZD/USD EUR/USD GBP/USD Pound sterling Euro    Joshua Mahony | Senior Market Analyst, London | Publication date: Tuesday 27 July 2021  EUR/USD turning lower from latest retracement EUR/USD has managed to post yet another 76.4% Fibonacci retracement, with the pair heading lower once again. This highlights how the trend seen over the course of the past two months remains worth following. While the trend is very shallow in nature, that does bring a higher likeliness of a deep retracement. As such, a bearish outlook holds from here, with a push up through the prior swing-high of $1.183 required to negate that downside bias. Source: ProRealTime GBP/USD turning lower after 76.4% retracement GBP/USD has started to lose ground in early trade today, following the rally into the 76.4% Fibonacci resistance level at $1.383. With a wider bearish trend playing out over recent months, there is a good chance we see further downside from here. A rise up through the $1.391 level would be required to negate that outlook. Source: ProRealTime NZD/USD slumps after deep pullback NZD/USD has similarly turned lower after a 76.4% Fibonacci retracement yesterday. The wider downtrend points towards such a move coming into play, with a rise through $0.7045 required to negate that bearish outlook. Until then, further weakness looks likely from here. Source: ProRealTime
×
×
  • Create New...