USDCAD formed double top price pattern on a H4 interval chart, which might indicate enduring downward movement. Another factor biasing toward bearish scenario is the fact that pair breached green trend line and is currently testing Fibonacci...
Since beginning of current week, EURUSD is consolidating and verging on upward correction. Breach of a Fibonacci retracement of 1.3194 will strongly confirm short-term upward scenario.
Rather prolific week in data releases coming from major economies just elapsed. But let’s leave fundamentals for a second part of report and start our week summary from technical analysis’ factors as probably the most weighty ones.
Current week emerged shift in a GBPUSD trend, since Monday pair dropped approximately 260 pips and yesterday was solely 50 pips above 16 weeks low.
Behaving rather in bearish manner, EURUSD decreased during yesterday’s session 130 pips. Main pair opened current session with subtle 26 pips drop down, and is at the moment in rather short-term upward correction.
British Consumer Price Index emerged to be almost alike with expectations and enduring UK inflation tendency. As some wise professor said – “robust economy has to slide on something” – current 3.3 percent inflation ought to be...
On the opening day of the week the market is in indubitable good mood. Practically no reaction on China bad news confirms that statement. Chinese CPI was 5.1 percent high and PPI equaled 6.1 percent.
U.S. economy Previous week elapsed in rather slow manner for U.S. economy. It brought solely four significant data releases, which general outlook was good for Dollar. Indubitable highlight of previous week was Ben Bernanke speech on “60...
Elapsing, Friday emerged to be less volatile day on the forex market. This is mostly caused by traders’ wait for forthcoming on Saturday, highly significant data releases from China.
As Thursday elapsed, we experienced rather busy but tranquil day for British economy. Main data releases turned out to be virtually equal with forecasted values, which accounts for calm price reaction on them.
