EUR/JPY Consolidating After Breakout
The EUR/JPY pair has experienced a short-term pullback after breaking out of a long-term uptrend. While the bearish breakout suggests a potential reversal, there is still not enough evidence to confirm a long-term downtrend. The pair is currently consolidating within a range, with potential for a continuation of the uptrend or a reversal. A break […]
GBP/USD Falls Following US ISM Data
The GBP/USD pair has experienced a decline, with the US Dollar gaining strength. The market’s focus remains on the upcoming release of US economic data, including the Nonfarm Payrolls report. The weaker-than-expected US ISM Manufacturing PMI data has raised concerns about the US economy’s growth prospects, potentially impacting the Federal Reserve’s monetary policy outlook. GBP/USD […]
AUD/USD Consolidating Near Range High
The AUD/USD pair has been in an uptrend throughout August, reaching a new high of 0.6824. The pair is currently consolidating near this level, with potential for a continuation of the uptrend or a reversal. A break above 0.6800 would signal a continuation of the uptrend, with potential targets at 0.6824 and higher. However, a […]
Pound Sterling Pulls Back Amidst Rising US Dollar
The Pound Sterling has experienced a decline, with the GBP/USD pair falling below the 1.3150 level. The US Dollar has gained strength, supported by the stronger-than-expected US PCE inflation data and a potential slowdown in the Federal Reserve’s pace of interest rate cuts. The Bank of England’s (BoE) cautious stance on interest rate cuts and […]
Mexican Peso Recovers Amidst Mixed Sentiment
The Mexican Peso has strengthened against the US Dollar, with the market showing cautious optimism. While concerns over judicial reforms and a potential escalation of tensions with the United States remain, positive news regarding international trade and the interest rate differential between Mexico and the United States have provided support. The US Dollar has weakened, […]
AUD/USD Extends Upward Trend
The AUD/USD pair has continued its upward momentum, reaching a new monthly high. The pair’s recent breakout above the 0.6799 level suggests a strong bullish trend. While the RSI has shown a bearish divergence, indicating potential for a short-term pullback, the overall uptrend remains intact. Support levels at 0.6755 and 0.6639 could provide opportunities for […]
NZD/USD Testing Range High for Breakout
The NZD/USD pair is consolidating near the upper boundary of a sideways range. A decisive break above the August 20 high of 0.6248 could signal a bullish breakout, with potential targets at 0.6409 and 0.6448. However, a failure to break above 0.6248 could lead to a renewed downward move towards the range floor at 0.5850. […]
US Dollar Stabilizes Ahead of Key Economic Data
The US Dollar has shown resilience on Monday, trading near its opening level despite a challenging week. The market’s focus is now on the release of Durable Goods Orders data, which could provide insights into the US manufacturing sector and potentially influence the Federal Reserve’s monetary policy outlook. Economic Data and Market Sentiment The recent […]
Mexican Peso Surges on Fed Rate Cut Expectations
The Mexican Peso has rallied sharply against the US Dollar, driven by the Federal Reserve’s announcement of an impending interest rate cut. The US Dollar has weakened significantly, with the DXY index falling to a new yearly low. The Mexican Peso’s gains are also supported by the recent release of positive economic data, including a […]
US Dollar Holds Steady Ahead of Jackson Hole
The US Dollar has maintained a relatively stable position, with the DXY index trading near its opening level. Market participants are keenly awaiting Federal Reserve Chair Jerome Powell’s speech at the Jackson Hole Symposium, which is expected to provide clarity on the central bank’s monetary policy outlook. Economic Data and Market Sentiment The release of […]