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EUR/USD, GBP/USD and AUD/USD pullback could ultimately represent buying opportunity

EUR/USD, GBP/USD and AUD/USD head lower, but could this just be a breather before the bulls come back into play?

AUDSource: Bloomberg
 
 Joshua Mahony | Senior Market Analyst, London | Publication date: Monday 13 September 2021 

EUR/USD slumps as we reverse recent gains

EUR/USD has built on the bearish breakdown seen last week, with another sharp selloff coming into play this morning. Coming off the back of a rally into the $1.1908 resistance level, we have seen the bears in charge ever since.

With the price starting to regain some ground in this current candle, there is a chance we move into another retracement phase for the near-term. However, we would need to see a break up through the $1.185 level the negate the bearish intraday picture.

Despite the likeliness of another move lower, the recent rally into $1.1908 does point towards the pair potentially bottoming out around Fibonacci support.

EUR/USD chartSource: ProRealTime

GBP/USD pulls back within consolidation phase

GBP/USD has found support on $1.3731 and resistance on $1.3888, with the pair clearly in consolidation mode of late.

The declines seen over the course of the Friday bring us back towards the 61.8% Fibonacci support level, although there is a good chance we see the price fall further over the coming days.

Ultimately we will need to see the price break out of this $1.7371 to $1.3888 consolidation zone to bring a signal of where we go from here.

GBP/USD chartSource: ProRealTime

AUD/USD find support after recent declines

AUD/USD has started to regain its footing after a decline into the confluence of horizontal and trendline support.

The pair has been an outperformer of late, highlighting the potential that AUD/USD will lead the way out of this current pullback.

However, we would need to see a break through $0.741 resistance to bring about a fresh bullish outlook or the pair.

AUD/USD chartSource: ProRealTime
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EUR/USD, GBP/USD and USD/JPY look to make gains

Risk appetite is recovering, leading to gains for the euro and sterling against the dollar, and for the dollar against the yen.

USDSource: Bloomberg
 
 Chris Beauchamp | Chief Market Analyst, London | Publication date: Tuesday 14 September 2021 

EUR/USD looks for gains after Tuesday recovery

EUR/USD bulls will be hoping that the bounce from yesterday’s lows marks the beginning of a broader recovery that will renew the move higher from late August and see the pair move back to, and then above, the $1.19 level.

Yesterday saw the price recover from a $1.177 low to end the day flat, providing hope for the bulls. Sellers will want to see this reversed to open the path to $1.165.

EUR/USD chartSource: ProRealTime

GBP/USD targets further gains

After being knocked back on Friday, the GBP/USD's price managed to bounce from $1.38 yesterday, leaving the upward move intact.

Recent gains have stalled around $1.387, so a bigger rebound requires this level to be broken to the upside to open the path to $1.40. The bearish view has been negated for the time being, but would be revived to an extent with a move back below $1.375.

GBP/USD chartSource: ProRealTime

USD/JPY pushes higher

USD/JPY continues to claw back losses after the drop seen last Thursday.

A continued move higher brings ¥110.40 into view, and then on to ¥110.70, where gains have stalled since mid-July. The ascendancy of the bullish view is still only slight, and a move back below ¥109.50 would put the bears in charge for the time being.

USD/JPY chartSource: ProRealTime
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Dollar weakness lifts EUR/USD and GBP/USD while hitting USD/JPY hard

After a weaker US CPI print yesterday the dollar gained, but this state of affairs has reversed in early trading on Wednesday. Video

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Chris Beauchamp | Chief Market Analyst, London | Publication date: Wednesday 15 September 2021. 

EUR/USD holds 50-day SMA

Hopes of a rebound yesterday with EUR/USD were dashed, but again the price is holding the 50-day simple moving average (SMA) $1.1801, keeping the possibility of a new bounce open.

This would then mark a resumption of the move higher from mid-August, targeting $1.19 and higher. Sellers have been unable to revisit last week’s low, and until they do, the bearish view is cancelled out.

EUR/USD chartSource: ProRealTime

GBP/USD rallies after CPI figures

Cable’s gains in the wake of employment data yesterday with GBP/USD fizzled out after US consumer price index (CPI), but as with EUR/USD the pair has not make a move back to last week’s lows.

Again, the 50-day SMA ($1.3807) continues to provide support, with the price still apparently girding itself for a new move back towards $1.39 following a strong UK CPI reading. A conclusive break lower still eludes the sellers, leaving the bull case intact.

GBP/USD chartSource: ProRealTime

USD/JPY slumps after break below trendline support

USD/JPY weakness has finally precipitated a change here, as the bear case roars back into life.

A classic case of a break of trendline support has seen the price drop sharply, leaving the bears firmly in charge, opening the way to more downside below ¥109.00 unless the buyers can somehow find the strength for a bounce.

USD/JPY chartSource: ProRealTime
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EUR/USD, GBP/USD and AUD/USD all under pressure

Risk aversion dominates in early trading, as Wednesday’s gains fizzle out and sellers take charge. Video.

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 Chris Beauchamp | Chief Market Analyst, London | Publication date: Thursday 16 September 2021 

EUR/USD struggles as USD strengthens

The continuation of the rally here is in jeopardy as the price of EUR/USD struggles to hold any of the gains made yesterday. A renewed decline below $1.177 would put the sellers in charge and open the way to additional downside.

Buyers will be hoping the price recovers today and moves on above Wednesday’s high above $1.183.

EUR/USD chartSource: ProRealTime

GBP/USD falls back from Wednesday high

Here too the gains of Wednesday with GBP/USD have been reversed. There appears to be little desire to push on above $1.385, with the result that the bullish view has continued to weaken.

The price has not yet conclusively rolled over, so the bearish view has not yet taken pre-eminence, so for now a neutral outlook prevails.

GBP/USD chartSource: ProRealTime

AUD/USD under renewed pressure

AUD/USD continues to give back the gains made in the second half of August. After a small bounce yesterday the sellers are in charge once again, and it looks like further declines towards $0.72 are likely.

Bulls need a rally back above $0.74 to revive the bullish view.

AUD/USD chartSource: ProRealTime
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EUR/USD heads down while GBP/USD begins to recover and USD/JPY rebounds

It is a day of mixed fortunes across asset markets, although the dollar is stronger in the wake of a recovery in US retail sales. Video.

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 Chris Beauchamp | Chief Market Analyst, London | Publication date: Friday 17 September 2021 

EUR/USD heads to the downside

After Thursday’s slump here with EUR/USD, the sellers are firmly in control again, and a move back towards $1.166 looks to be on the cards.

The drop below the 50-day simple moving average (SMA) $1.1797 has handed the initiative to the sellers, and now we look for additional losses. A move above $1.18 would be needed to provide more hints of renewed upside for EUR/USD.

EUR/USD chartSource: ProRealTime

GBP/USD holds trendline

While GBP/USD fell back too yesterday following US retail sales, it was able to regain some ground in the latter part of the session.

Buyers will be pleased to see the price has held rising trendline support from the August low, providing hope that a new bounce towards $1.385 can begin.

GBP/USD chartSource: ProRealTime

USD/JPY rebounds after retail sales

Markets can be frustrating places, and sellers will have to relearn this after seeing USD/JPY bounce yesterday following the previous two days of losses that seemed to hand the initiative to the sellers.

The price is edging back above trendline support from the early August low, and with stochastics turning higher once again a new move towards ¥110.35 may develop.

USD/JPY chartSource: ProRealTime
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EUR/USD and GBP/USD fall sharply, as USD/JPY edges up

The outbreak of risk aversion in markets has hit EUR/USD and GBP/USD hard.

PoundSource: Bloomberg
 
 Chris Beauchamp | Chief Market Analyst, London | Publication date: Monday 20 September 2021 

EUR/USD targets August low

EUR/USD has almost completed its return to the August low, giving back almost all the ground gained since then.

The sellers have put the bearish view back on the front foot and how we look for a renewed decline below the August low around $1.167 that will create a lower low and revive the downtrend.

 

EUR/USD chartSource: ProRealTime

GBP/USD firmly in retreat

The bounce in the pound against the dollar seems to have run its course, and with Friday having seen the GBP/USD price drop below trendline support the sellers are now firmly in charge.

Further declines head towards $1.366 and then $1.36.

 

GBP/USD chartSource: ProRealTime

USD/JPY edges towards top of range

With USD/JPY, the dollar is still stuck in a range against the yen, since over the past three months dips below ¥109.50 have found buyers while rallies above ¥110.50 tend to run out of momentum.

At present the buyers are in the ascendant, but it looks like a low-conviction move for the time being.

 

USD/JPY chartSource: ProRealTime
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EUR/USD, GBP/USD and AUD/USD recover after Monday’s losses

The selling has eased off in several FX pairs, as risk appetite stages a tentative recovery.

EUR/USDSource: Bloomberg
 
 Chris Beauchamp | Chief Market Analyst, London | Publication date: Tuesday 21 September 2021 

EUR/USD

A small recovery here with EUR/USD has seen the price bounce from $1.17.

Buyers will be looking for a continued recovery that moves back above the 50-day simple moving average (SMA) at $1.1793, while sellers will view this as a brief respite before a fresh move back towards $1.167.

EUR/USD chartSource: ProRealTime

GBP/USD

GBP/USD has halted its losses for now at $1.365, although after three days of steep losses this is only a minor bounce.

The day could see a resumption of the move towards $1.36, and then below this the bearish view would be reinforced with the creation of a new lower low.

GBP/USD chartSource: ProRealTime

AUD/USD

AUD/USD rallied off the lows yesterday, stabilising after more than two weeks of declines, but this small bounce has yet to suggest a change in trend is near.

Further declines target $0.72 and then the August low at $0.7106. Buyers will need to see further gains above $0.73 to provide evidence a turn is at hand.

AUD/USD chartSource: ProRealTime
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EUR/USD and GBP/USD steady as USD/JPY rises

The volatile moves of the past two sessions have faded for now, with some recovery in risk appetite seen in FX markets.

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 Chris Beauchamp | Chief Market Analyst, London | Publication date: Wednesday 22 September 2021 

EUR/USD drifts sideways after heavy losses

EUR/USD is holding its ground after recent losses, but shows no desire to move either higher or lower for the time being.

The $1.17 level continues to hold as support, while on the upside movement has been limited to around $1.174.

 

EUR/USD chartSource: ProRealTime

GBP/USD tiptoes lower

The GBP/USD price continues to probe the area around $1.365, but with little enthusiasm for further declines it seems.

Overall, the sellers are still in control, with further declines looking likely and buyers needing a rally back above $1.37 to recover a more bullish view.

 

GBP/USD chartSource: ProRealTime

USD/JPY heads higher

After testing the lower bound of its recent trading range the USD/JPY price has recovered, and now a move back towards ¥110.00 and ¥110.50 looks likely as risk appetite revives.

 

USD/JPY chartSource: ProRealTime
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EUR/USD, GBP/USD and AUD/USD start to turn upwards after Friday declines

EUR/USD, GBP/USD and AUD/USD show signs of a bullish resurgence despite a bout of losses at the end of last week. Video

USDSource: Bloomberg

 
 Joshua Mahony | Senior Market Analyst, London | Publication date: Monday 27 September 2021 

EUR/USD falls back towards Fibonacci support

EUR/USD has been attempting to find a more positive footing after a period of declines that took us back towards the August lows of $1.1663.

The recent downtrend point towards the potential for further weakness, although the recent respect of this 76.4% Fibonacci support level and Thursday’s rally towards the prior swing-high of $1.1755 provide some basis for tentative bullish confidence.

A rise up through that $1.1755 level would bring greater optimism for bulls. To the downside, the $1.1663 level provides a key hurdle to overcome if we are to see a continuation of this recent sell-off.

EUR/USD chartSource: ProRealTime

GBP/USD starts to regain its footing after Friday sell-off

GBP/USD ended the week on a negative footing, with the pair reversing much of the upside seen over the course of Thursday’s session. That decline has taken us back into the deep retracement zone between the 61.8% and 76.4% Fibonacci levels.

We are now starting to build upward momentum once again here, with the price turning upwards in early trade this morning. Given the recent sell-off took us back into the $1.3602 support level, there is a good chance we see another move higher from here.

However, much like EUR/USD, we would see greater confidence of upside once the price breaks through the prior swing-high ($1.375) given recent declines.

GBP/USD chartSource: ProRealTime

AUD/USD starts to show signs of bottoming out

AUD/USD shows a more obvious bottoming out pattern, with the recent break from its descending channel giving way to flatlining lows and higher highs.

The latest retracement took us back into the 76.4% Fibonacci level, with the price turning upwards at the end of last week. A break below $0.722 would bring a more bearish picture into play. Until then, there is a good chance we are setting up for another bullish push for the pair.

AUD/USD chartSource: ProRealTime
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EUR/USD stuck fast, as GBP/USD and USD/JPY move higher

The euro is unable to rally against the dollar, but the pound is able to move up against the greenback and USD/JPY makes further strong gains.

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 Chris Beauchamp | Chief Market Analyst, London | Publication date: Tuesday 28 September 2021 

EUR/USD clings to recent lows

EUR/USD continues to struggle around $1.17, having seen gains above this level last week fizzle out. So far any bigger move lower continues to elude the sellers, with a defence of $1.17 holding the pair in place.

We wait for a bigger move above $1.175 or below $1.166 to provide the indication of the next directional move.

EUR/USD chartSource: ProRealTime

GBP/USD stages a recovery

Signs of GBP/USD bullish momentum have developed over the past two sessions, as the price builds on Monday’s gains with a push back above $1.37.

Further gains would target the 50-day simple moving average (SMA) at $1.379, and then on to $1.385.

GBP/USD chartSource: ProRealTime

USD/JPY targets August high

Further gains for USD/JPY have carried to the highest level in months, any ¥111.60 looks like it will be tested in due course.

This powerful leap higher has broken the summer range and puts buyers firmly in charge, opening the path to additional upside beyond the late June high.

USD/JPY chartSource: ProRealTime
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EUR/USD and GBP/USD hit hard, while USD/JPY surge stops at key resistance

EUR/USD and GBP/USD break into multi-month lows, while USD/JPY starts to ease back from a key resistance level. Video.

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 Joshua Mahony | Senior Market Analyst, London | Publication date: Wednesday 29 September 2021 

EUR/USD at key support level after hitting 10-month low

EUR/USD has been on the slide of late, with the US dollar strength driving weakness for this pair. That decline has taken us tentatively below the August low of $1.1664 to bring about a fresh 10-month low.

The ability to maintain the price action below that level is key, signalling the potential for a new bearish phase to come into play. Alternately, we would need to see a break up through $1.1755 to bring about a more positive outlook for this pair.

EUR/USD chartSource: ProRealTime

GBP/USD hit hard, bringing eight-month low

GBP/USD saw sharp selling yesterday, bringing the price back below the July low of $1.3572. That points towards a wider bearish trend playing out for this pair, with further downside expected as a result.

A rise up through $1.375 would be required to negate that bearish view.

GBP/USD chartSource: ProRealTime

USD/JPY starts to turn lower from resistance

USD/JPY has enjoyed a period of gains, as rising treasury yields drove the pair into a bullish breakout. However, the final hurdle within that breakout appears to be a stretch too far, with the pair reversing lower from the ¥111.66 level.

It is likely that we ultimately do break through that resistance level. However, until that happens, we could see a short-term downside retracement from that level.

USD/JPY chartSource: ProRealTime
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Rising dollar boosts USD/JPY but sends EUR/USD and GBP/USD sharply lower

The greenback is enjoying some notable strength, which is helping the currency to an 18-month high against the yen, while causing sharp losses for the euro and sterling against the US currency.

JPYSource: Bloomberg
 Chris Beauchamp | Chief Market Analyst, London | Publication date: Thursday 30 September 2021

EUR/USD hit hard on rising dollar

The sellers are firmly in control here as the EUR/USD price slumps to its lowest level in over a year.

Having broken below a series of support levels the next target may well be $1.144 and then $1.139, last seen in June and July 2020. So far there is no sign of any recovery, which would require at least a move back above $1.17.

EUR/USD chartSource: ProRealTime

GBP/USD slumps as greenback strengthens

Dollar strength has made itself felt here too, pushing GBP/USD to its lowest level for the year.

A wide gap to the next potential support level at $1.32 now looms, with short-term rallies likely to provide further selling opportunities so long as the price remains below $1.36.

GBP/USD chartSource: ProRealTime

USD/JPY rallies to fresh highs

The dollar continues to climb, boosting USD/JPY to its highest level since February 2020.

How far this move goes before it weakens remains to be seen, but elevated stochastics point towards strong bullish momentum. Some retracement back in the direction of ¥111.50 might provide a further buying opportunity.

USD/JPY chartSource: ProRealTime
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EUR/USD and GBP/USD pause within bearish breakdown, while USD/JPY starts to reverse lower

EUR/USD and GBP/USD pause after recent slump, while USD/JPY starts to reverse latest gains.

EuroSource: Bloomberg
 Joshua Mahony | Senior Market Analyst, London | Publication date: Friday 01 October 2021 

EUR/USD pauses after recent slump

EUR/USD has been hit hard over the course of the week, with the pair trading at the lowest level in 14 months.

We have seen little by way of bullish momentum thus far. Therefore, it makes sense to expect further downside to come. A rise up through the $1.1609 would be required to bring a more neutral short-term picture into play.

 

EUR/USD chartSource: ProRealTime

GBP/USD expected to fall further after recent declines

GBP/USD has similarly suffered sharp losses over the course of the week, with the pair hitting a nine-month low on Wednesday.

While the volatility has eased somewhat since then, the gains seen yesterday seem to have simply formed a 76.4% Fibonacci retracement. As such, further downside looks likely unless we see a break up through the $1.3555 resistance. A beak below $1.3411 brings greater confidence of another breakdown.

 

GBP/USD chartSource: ProRealTime

USD/JPY falls below support after period of sharp gains

USD/JPY has reversed lower towards the end of the week, with the pair moving into retracement mode following a period of sharp gains in the wake of last week’s Federal Open Market Committee (FOMC) meeting.

There is a risk of a deeper pullback given the decline through ¥111.20 support, yet any such downside would be viewed as a buying opportunity unless price falls through the ¥109.12 low.

 

USD/JPY chartSource: ProRealTime
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EUR/USD, GBP/USD and AUD/USD rally likely to falter once again

EUR/USD, GBP/USD and AUD/USD attempt to regain lost ground. However, this looks to be a retracement phase before the bears come back into play.

EuroSource: Bloomberg
 
 Joshua Mahony | Analista de mercados senior, Londres | Publication date: Monday 04 October 2021 

EUR/USD at risk after rally into intraday resistance

EUR/USD has managed to rally into the $1.1609 resistance level this morning, with a gap higher at the start of this week’s trade being immediately sold into.

The recent dollar strength has hit the pair hard, and we would need to see $1.1609 broken to bring about a more positive short-term outlook. Until then, there is a good chance we see the bears come back into play to maintain this downward trend.

EUR/USD chartSource: ProRealTime


GBP/USD recovery unlikely to last

GBP/USD has been on the rise since Wednesday’s lows. The bearish trend in play of late portrays this current rebound as a likely retracement before the bears come back into the fray once again.

With that in mind, it is worthwhile watching for potential respect of the Fibonacci resistance levels, such as $1.3621 and $1.367. A break-up through the $1.375 swing-high would be required to bring about a more positive outlook for the pair.

GBP/USD chartSource: ProRealTime


AUD/USD rallies into Fibonacci resistance

AUD/USD has similarly been gaining ground since Wednesday’s low, with the price retracing off the back of a period of declines.

That downtrend comes back into question here, with a bearish outlook bringing expectations of another turn lower here. That negative outlook holds unless the price break up through the $0.7316 resistance level.

AUD/USD chartSource: ProRealTime
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EUR/USD falters as GBP/USD and USD/JPY move higher

EUR/USD is still struggling while the pound is making headway against the dollar and the greenback gains versus the yen.

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 Chris Beauchamp | Chief Market Analyst, London | Publication date: Tuesday 05 October 2021 

EUR/USD under pressure again

A small bounce seemed to offer hope of a recovery with EUR/USD, but the pair is under pressure once again, and the loss of $1.16 could signal that a new move lower is underway.

This would suggest a renewed drop that now targets $1.14, last seen in July last year. A lower high with stochastics at such a low ebb points towards strong downside momentum, leaving buyers unable to hold their ground.

EUR/USD chartSource: ProRealTime

GBP/USD buyers still in control

The powerful rebound seems set to continue here with GBP/USD, despite some hesitancy in early trading today.

The buyers appear to be firmly in charge, and now the pair targets $1.366 and then $1.37, but a test of trendline resistance at $1.36 is the first challenge. If this can be broken then we look for additional upside, while sellers will aim for a reversal that brings last week’s lows towards $1.34 back into play.

GBP/USD chartSource: ProRealTime

USD/JPY edges back after gains

After pulling back to support the price of USD/JPY has stabilised, and now looks for a resumption of the move higher, returning to ¥112.00.

A continued hold above ¥111.00 leaves the buyers firmly in charge, while sellers will aim for a move back below this and then below ¥110.50.

USD/JPY chartSource: ProRealTime
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EUR/USD, GBP/USD and AUD/USD roll over after latest retracements

EUR/USD, GBP/USD and AUD/USD reverse lower once again, with dollar demand driving bearish reversals after recent upside retracements.

GBP/USDSource: Bloomberg
 
 Joshua Mahony | Senior Market Analyst, London | Publication date: Wednesday 06 October 2021 

EUR/USD rolling over after shallow retracement

EUR/USD is on the back foot once again, as a sell-off in risk assets drive demand for the dollar. The latest retracement only amounted to a mere 38.2%, with the pair subsequently heading back down into the $1.1563 lows established last week. A break below that level brings about a fresh sell signal, with further downside likely in either case.

A break through the $1.1755 level would be required to negate that bearish view. However, that figure changes to $1.164 if we manage to break this $1.1563 support level.

EUR/USD chartSource: ProRealTime

GBP/USD turning lower following deep pullback

GBP/USD has started to reverse lower once again this morning, with the risk-off sentiment driving this pair back below the $1.3584 level. Coming off the back of a move that saw the pair rise up through the 61.8% Fibonacci resistance level, we are now seeing the bears back in charge.

As such, keep an eye out for further downside from here, with a bearish view in play unless the price breaks through $1.375.

GBP/USD chartSource: ProRealTime

AUD/USD rolling over once again

AUD/USD has similarly managed to rise into a deep retracement, with the pair getting close to the key $0.7316 level. Nonetheless, that resistance level was not broken, and the price instead turned lower from trendline resistance.

The move below $0.7249 brought about a fresh bearish signal for the pair, with another bout of losses expected here. That view holds unless we break through $0.7316 resistance.

AUD/USD chartSource: ProRealTime
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Euro, sterling and yen weaken against the dollar on debt ceiling talk hopes

Hopes of progress in US debt ceiling talks have given a boost to the greenback and put EUR/USD and GBP/USD on the back foot while listing USD/JPY.

EUR/USDSource: Bloomberg
 
 Chris Beauchamp | Chief Market Analyst, London | Publication date: Thursday 07 October 2021 

EUR/USD sellers in control

Losses continue here with EUR/USD, with the price action yesterday marking a drop below the lows of last week and opening the way to additional downside. Brief intraday rallies such as we saw on Friday and Monday are continuing to be selling opportunities, and the broader view continues to point towards a push towards $1.14.

Trendline resistance from the September high continues to cap any upside for now, with a move above $1.165 needed to break this line.

EUR/USD chartSource: ProRealTime

GBP/USD edges back from highs

Gains here have stalled for now with GBP/USD, as the price drops back from the highs of the week. Given overall USD strength this move will be watched carefully to see if it denotes a revival of GBP/USD weakness and brings a move back towards $1.34 into view, with a renewed fall below yesterday’s lows and $1.355 providing further confirmation of the bearish case.

Bulls will hope this weakness is temporary and that a move above $1.365 can take place, cancelling out the lower high scenario for now.

GBP/USD chartSource: ProRealTime

USD/JPY holds support

The bounce seems set to resume with USD/JPY, although the mixed day yesterday shows there is still some selling pressure to hand.

However, the textbook bounce from support at ¥111.00 does suggest a renewal of the move higher, and the bullish view remains in play unless we see a reversal back below Tuesday’s lows.

USD/JPY chartSource: ProRealTime
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EUR/USD, GBP/USD and AUD/USD rebound, yet questions remain given bearish trends

EUR/USD, GBP/USD and AUD/USD on the rise, but questions remain over whether we are simply retracing or reversing.

CurrenciesSource: Bloomberg
 
 Joshua Mahony | Senior Market Analyst, London | Publication date: Friday 08 October 2021 

EUR/USD rolling over after latest retracement

EUR/USD has been trending lower over the course of the past month, with the dollar strength driving weakness for the pair.

With that downtrend still in play, the latest move higher looks likely to represent a retracement before we head lower once again. A such, a bearish outlook holds unless the price rises through $1.164 resistance.

 

EUR/USD chartSource: ProRealTime

GBP/USD pauses within Fibonacci resistance zone

GBP/USD has been regaining ground of late, with the pair moving up through the 61.8% Fibonacci level, and into the 100-day simple moving average (SMA).

However, with a bearish trend in play of late, we are looking at a potential retracement here. As such, there is a risk we reverse lower despite recent gains, with a decline through $1.3544 bringing greater confidence of a bearish move. That downtrend remains in play unless the price breaks through the $1.3751 swing-high.

 

GBP/USD chartSource: ProRealTime

AUD/USD rallies into key resistance level

AUD/USD has generally outperformed European currencies of late, and the rally into $0.7315 is indicative of that.

The pair no longer creates lower highs. Thus, there is a chance we are bottoming out here. With the price turning lower, we would need to see a break below the $0.7225 support level to bring about a fresh bearish signal once again.

 

AUD/USD chartSource: ProRealTime
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EUR/USD, GBP/USD and USD/JPY on the rise after Friday’s NFP disappointment

EUR/USD and GBP/USD on the rise thanks to easing haven demand for the dollar, although USD/JPY has pushed into multi-year highs despite Friday’s disappointing NFP release.

EUR/USDSource: Bloomberg
 
 Joshua Mahony | Senior Market Analyst, London | Publication date: Monday 11 October 2021

EUR/USD regaining ground although downtrend remains

EUR/USD has been regaining ground as haven demand eases for the dollar. The strength we are seeing here looks likely to represent a retracement phase set within a downtrend.

As such, near term we could see further upside, yet it makes sense to expect another turn lower unless the price breaches the $1.164 swing high. Until then, watch out for the bears to come back into play around the $1.1597 to $1.1614 Fibonacci resistance zone.

 

EUR/USD chartSource: ProRealTime

GBP/USD rallies into 76.4% Fibonacci level

GBP/USD has been on the rise over the course of the past fortnight, with the price rising back into the 76.4% Fibonacci resistance level. That level is being respected thus far, highlighting the potential for a bearish turn around here.

Keep an eye out for wider risk sentiment as a driver of dollar price action. However, until the price breaks through $1.375, there is a distinct risk that we see the bears come back into play before long.

GBP/USD chartSource: ProRealTime

USD/JPY pushes into 33 month high

USD/JPY has been surging higher once again today, with the rally through ¥1.1208 bringing about the next leg higher from the pair. This current surge will retrace at some point yet exactly when that happens remains to be seen.

For now, further upside does look likely, with any retracement needing to break back below the ¥110.82 required to bring about an end to this trend. Until that happens, any short-term period of downside looks to provide a potential buying opportunity.

USD/JPY chartSource: ProRealTime
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EUR/USD and GBP/USD weaken as USD/JPY consolidates after gains

It is another tough morning for EUR/USD and GBP/USD, while against the yen the dollar continues to soar. Video

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 Chris Beauchamp | Chief Market Analyst, London | Publication date: Tuesday 12 October 2021 

EUR/USD sellers in control

Anyone trying to call the bounce here with EUR/USD, has had a tough few weeks, the precipitate decline continuing apace.

Any short-term bounce is likely to represent a brief recovery unless it can move back above $1.164, with the overall bearish trend still intact.

EUR/USD chartSource: ProRealTime

GBP/USD under pressure again

Yesterday’s recovery with GBP/USD to $1.365, is now a memory, having been reversed by a wave of selling.

Additional declines below $1.355 will provide further evidence that a lower high has been created and a return to the September low at $1.34 is now in sight.

 

 

GBP/USD chartSource: ProRealTime

USD/JPY continues to climb

Dollar strength continues to run rampant here with USD/JPY, lifting the pair to fresh highs in a dramatic change from the summer’s frustrating rangebound trading.

Additional gains target ¥113.64, but with the gains of the past two days the price has now pulled away from trendline support and looks vulnerable to some near-term consolidation, even if a pullback does not materialise.

USD/JPY chartSource: ProRealTime

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EUR/USD, GBP/USD and USD/JPY expected to be driven by dollar strength

Dollar strength back in play, with EUR/USD and GBP/USD losing ground as USD/JPY turns upwards once again. Video

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 Joshua Mahony | Senior Market Analyst, London | Publication date: Wednesday 13 October 2021 

EUR/USD expected to continue its decline despite overnight pop

EUR/USD has regained some ground overnight, following a decline through the $1.1529 level to bring a 14-month low.

The overnight rise has done little to bring expectations of a wider reversal for this pair, with a bearish outlook in place until the price breaks up through the likes of $1.1586 and $1.164.

EUR/USD chartSource: ProRealTime

GBP/USD likely to roll over further after the recent 76.4% retracement

GBP/USD has been rolling over from the 76.4% Fibonacci resistance level of $1.367. The wider downtrend remains in place, although it makes sense to watch for a break below trendline and $1.3568 support to bring about a signal that this bearish trend is going to come back into place.

Ultimately we would need to see a break up through the $1.375 level to negate the bearish trend in place over recent months.

GBP/USD chartSource: ProRealTime

USD/JPY turning upwards following brief retracement

USD/JPY has been on a rapid rise of late, with the pair pushing back towards yesterday’s peak of ¥113.79. The uptrend seen over the course of October thus far highlights the potential for another bout of upside from here.

A break up through that ¥113.79 level brings about a fresh bullish signal for the pair. Conversely, we would need to see a drop below ¥113.00 if we were to see a more neutral outlook for the pair.

USD/JPY chartSource: ProRealTime
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EUR/USD and GBP/USD climb against the dollar, and USD/JPY moves higher again

Some dollar weakness has provided space for EUR/USD to bounce and GBP/USD to continue its recovery, while against the yen the dollar has recouped Wednesday’s losses. Video

EUR/USD, GBP/USD Analysis & Setups 16 - 18 June 2021

 Chris Beauchamp | Chief Market Analyst, London | Publication date: Thursday 14 October 2021 

EUR/USD finds strength to bounce

A rebound has finally materialised for EUR/USD, at least in the short term. The first target is the $1.164 swing high from 4 October, and if this is pierced to the upside then buyers may be able to push on towards the 50-day SMA at $1.1722.

This is only a recovery within a longer-term drop however for now, so bulls should be cautious about pushing their luck too far.

 

EUR/USD chartSource: ProRealTime

GBP/USD rebound continues

A more substantial recovery is in place for GBP/USD, but again it takes place within the run of lower highs and lower lows seen since the summer.

Sellers will be on watch for any resumption of the move down, while buyers will hope the price can clear the 50-day SMA at $1.3721 and then move on above the late September high at $1.375.

 

GBP/USD chartSource: ProRealTime

USD/JPY recoups losses

There is little scope for weakness for USD/JPY, with buyers already causing the price to recover most of yesterday’s losses.

Gains above ¥113.70 have been difficult to achieve over the past few days, holding back upward progress. A deeper move below trendline support at ¥112.50 would mark a more bearish development.

 

USD/JPY chartSource: ProRealTime
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EUR/USD, GBP/USD and USD/JPY on the rise once again

EUR/USD, GBP/USD and USD/JPY head higher, but will haven demand continue to wane or could we be due another dollar resurgence?

USD/JPYSource: Bloomberg
 
 Joshua Mahony | Senior Market Analyst, London | Publication date: Monday 18 October 2021 

EUR/USD rolling over as bears return

EUR/USD has been on the back foot for much of the past four months, with the pair falling back into a 14-month low last week. While easing dollar haven demand saw the pair regain lost ground later into the week, we are already seeing the bears come back into play here.

A break up through the $1.164 level would bring about a potential move into trendline resistance. However, there is a good chance that we see the bears come back into prominence before long, with a break below $1.1524 bringing a clear end to this retracement phase.

EUR/USD chartSource: ProRealTime

GBP/USD breaking higher as BoE gear up to hike

GBP/USD has been on the rise of late, with the pair breaking through $1.375 resistance on Friday. Comments from Governor Bailey over the weekend built the case for the 2021 rate hike, with rising inflation clearly a concern. There is still a possibility we are watching a bearish retracement here, with the 76.4% Fibonacci resistance level up ahead to consider ($1.3795).

However, with the pair on the rise, it makes sense to follow the intraday uptrend until we see that broken. With that in mind, bullish positions are favoured above the $1.3667 swing low.

GBP/USD chartSource: ProRealTime

USD/JPY uptrend continues, with bulls expected to remain in charge

USD/JPY has been pushing higher over the course of the past month, with the pair reaching a fresh three-year high. This bullish trend has taken us back in towards the 2018 high of ¥114.56. That path does look likely to continue unless we see the price fall back below the ¥113.21 swing low.

With resistance up ahead, a break through ¥114.56 would bring about a fresh buy signal. Meanwhile, a drop back below the ¥113.21 level would bring about a fresh short-term bearish signal for the pair.

USD/JPY chartSource: ProRealTime
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EUR/USD finally bounces as GBP/USD is lifted by rate hike hopes

The euro has found the strength to rally against the dollar, and sterling continues to gain on expectations of a potential BoE rate hike. Meanwhile USD/JPY has drifted lower after.

GBPSource: Bloomberg
 
 Chris Beauchamp | Chief Market Analyst, London | Publication date: Tuesday 19 October 2021

EUR/USD finally stages a rebound

A more substantial bounce appears to be in play here with EUR/USD, as the price leaps back above $1.16.

A snap-back rally to at least the 50-day simple moving average (SMA) at $1.1715 seems likely, a counter to the losses of September and October, but any bounce that falters below $1.19 will create a lower high and could simply embolden the sellers once more.

EUR/USD chartSource: ProRealTime

GBP/USD still climbing

Similarly here with GBP/USD, the buyers have it all their own way for now but will need to clear $1.39 to avoid a similar lower high.

It has been a strong bounce, fuelled now by expectations of a Bank of England (BoE) rate hike, but sellers will be looking for a price reversal that breaks the recent run of higher lows and renews the downtrend of the last few months.

GBP/USD chartSource: ProRealTime

USD/JPY edges lower

A drift back from Monday’s high is still in progress,with USD/JPY although it puts only a small dent in the gains made.

Overall the buyers still hold sway, and it will take a dip back below ¥113.00 to suggest something bigger is at hand.

USD/JPY chartSource: ProRealTime
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EUR/USD, GBP/USD and USD/JPY gain ground, yet questions remain

EUR/USD, GBP/USD and USD/JPY continue to move higher, although recent intraday gains could falter given key resistance up ahead.

EUR/USDSource: Bloomberg
 
 Joshua Mahony | Senior Market Analyst, London | Publication date: Wednesday 20 October 2021

EUR/USD rallies into Fibonacci resistance

EUR/USD has managed to rebound into the 61.8% Fibonacci level this week, with the price currently caught between trendline support and Fibonacci resistance. The wider trend does show the potential for another bearish turn before long, although a break below $1.1571 would bring greater confidence of that bearish turnaround.

To the upside, resistance comes in the form of $1.1667 and $1.1701, although a push through $1.1755 would ultimately be required to negate this recent downtrend.

EUR/USD chartSource: ProRealTime

GBP/USD recovery continues with key resistance up ahead

GBP/USD has been regaining lost ground of late, with the pair rising into a fresh one-month high yesterday. From an intraday perspective, we have a clear uptrend playing out since the late-September lows. However, with a wider trend of lower highs, a break through $1.3913 would ultimately need to come back into play.

Nonetheless, it makes sense to expect further upside until we see the price break out of this intraday trend. Thus a decline through $1.3709 would be required to bring the bears back into prominence for this pair.

GBP/USD chartSource: ProRealTime

USD/JPY back at major resistance level

USD/JPY has managed to rise back into the crucial ¥114.74 resistance level, which represents the peaks established back in November 2017 and October 2018. A break up through this level brings expectations of further gains for this pair.

With a clear intraday uptrend in play, a break below the ¥113.88 level would be required to signal a potential move away from resistance.

USD/JPY chartSource: ProRealTime

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EUR/USD and GBP/USD move up as USD/JPY drifts sideways

EUR/USD and GBP/USD are still aiming for further gains, while USD/JPY has continued its sideways movement.

USDSource: Bloomberg
 
 Chris Beauchamp | Chief Market Analyst, London | Publication date: Thursday 21 October 2021

EUR/USD still in upward move

EUR/USD continues to climb as it has done over the past week, with no reversal yet in sight.

As a result, we look for further gains in the direction of the 50-day simple moving average (SMA) at $1.1711, and then on to the late September high at $1.1756.

 

EUR/USD chartSource: ProRealTime

GBP/USD returns to September peak

Crunch time is rapidly approaching for the GBP/USD bulls, after a huge rally off the September low. Gains in September stalled at $1.39, with the price now targeting this zone, as well as the 200-day simple moving average (SMA) at $1.385.

There have only been small intraday pullbacks, but as with EUR/USD, an actual reversal has yet to develop. Notably the price has continued to post higher daily lows over the past week and more.

 

GBP/USD chartSource: ProRealTime

USD/JPY drifts sideways

USD/JPY's bounce has weakened but not gone into a complete reversal. Sellers have been unable to push the price below ¥113.85, Tuesday’s low.

Until this happens more short-term consolidation looks likely, as a prelude to another push above ¥114.50.

 

USD/JPYSource: ProRealTime
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EUR/USD and GBP/USD on the rise as USD/JPY eases back

EUR/USD and GBP/USD continue their grind higher, while USD/JPY starts to ease back from a key historical resistance level.

r_BG_eurusd_eur_usd_euro_dollar_09980898Source: Bloomberg
 Joshua Mahony | Senior Market Analyst, London | Publication date: Friday 22 October 2021

EUR/USD continues to consolidate within recent recovery

EUR/USD has been on the rise of late, with the pair regaining lost ground in the wake of four months’ worth of declines.

This tallies up with the shift into risk assets of late, denting demand for the dollar. Nonetheless, there is a strong chance we see the bears come back into play before long, with the recent 61.8% Fibonacci level providing the near-term resistance at 1.1667. That tallies up with the late-August low of 1.1663.

As such, the current period of upside does look at risk given the wider downtrend. However, it may make sense to await a breakdown through trendline and swing-low support to bring that bearish picture into play once again.

Until then, this short-term uptrend does still remain intact.

EURUSD-4-hours221021.pngSource: ProRealTime

GBP/USD pushing higher as we head towards resistance

GBP/USD has been on the rise over the course of October, with price continuing to push back towards the key 1.3913 swing-high. A break up through that level would bring an end to the wider downtrend in play.

With that in mind, the recent push up towards that level is important for its wider context. For now we have a clear intraday trend of higher highs and lows. A break below the 1.3742 swing-low would bring about a fresh bearish outlook.

Until then, further upside looks likely to continue as we push towards resistance.

GBPUSD-4-hours221021.pngSource: ProRealTime

USD/JPY easing back from long-term resistance

USD/JPY has struggled to maintain its upward trajectory after rallying into the 2017 high of 114.73. The break below 113.87 support highlights the potential for a period of downside from here.

From a wider context, further upside does look likely before long. However, there is a chance of short-term downside until 114.73 is broken.

USDJPY-4-hours221021.pngSource: ProRealTime
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