GBP/USD bounced on Thursday as traders bought into the markets, pushing risk higher again. However, this pair is finding a little bit of trouble at the 1.6300 area. This is roughly the area that once served as...
The USD/CAD pair fell on Thursday as the oil markets climbed, pushing the demand for Canadian dollars in the marketplace. The pair has a natural back stop in the form of parity, and the trend is certainly...
The USD/CHF pair rose on Thursday as a SNB member mentioned the possibility of a peg to the Euro. The truth is this rise if probably going to be short-lived, and traders should be on the lookout...
USD/JPY had a back and forth day on Thursday as traders tested the lows again, but backed off as fear of intervention certainly must come into play every time we get close to the lows. The 77...
July’s ADP and NFP employment reports, released last week, both showed drastic increases in job creation, with ADP’s private sector data showing 14 consecutive months of growth.
The pair continues to consolidate near its 200 moving average after the impressive decline from the previous days. The market has made an attempt below parity but closed above this level.
The pair remains well bid after a confirmation of the bullish resumption which resulted in a possible long term reversal (double bottom formation).
With a new intervention of the Swiss National Bank yesterday, we did see the pair sharply reversing with a 400 pips move to the upside. All the CHF pairs have surged the same way.
The pair is still under pressure threatening its yearly low at 76,30 which offered a great support lately. A break below this level would expose further significant decline.
The 1,6240 support broken on Wednesday has now become resistance and is currently being tested following yesterday’s pullback.
