EUR/AUD stayed in sideway taring between 1.6108/6381 last week and outlook is unchanged. Initial bias remains neutral this week first. Rise from 1.6108 is seen as the third leg of the corrective pattern from 1.6125. . Above 1.6381 will bring stronger rebound to 55 D EMA (now at 1.6411) and above. Nevertheless, firm break of…
Speculators pursuing WTI Crude Oil last week certainly got help via optimistic talk about the potential of a resolution being achieved regarding the Iranian war. Prices in WTI Crude Oil went lower from the start of last week, then saw a reversal higher Tuesday, but a return to selling as the week concluded. Prices across…
Things have not grown calmer in the broad Forex market. The EUR/USD saw its low for the week on Thursday around the 1.15860 ratio and then produced a high near 1.16860 on Friday. Forex including the EUR/USD have seen fast dynamic reversals in the past three months. The Iranian situation is certainly the chief instigator…
Why was Far East focused online broker fined a whopping $60 million by Chinese regulators, sending parent company UP Fintech’s stock tumbling? What senior management changes have taken place at Australia based CFDs broker Eightcap – including a new CEO, and the departure of another longtime senior executive? How is Kraken pricing trader evaluations at…
The British pound has been very noisy during the trading week as we continue to see a lot of back-and-forth action. Ultimately, the market continues to see the 1.3550 level above as a major barrier, but I do think it is probably only a matter of time before we at least test that area. If…
An employee arranges U.S. dollar bills and 50,000 won notes at a branch of Hana Bank in central Seoul, April 3. Yonhap Korea’s move to make the won-dollar foreign exchange market a virtually 24-hour trading schedule starting in July is raising concerns that it could leave the won more vulnerable to overnight swings when trading…
FX Council General Meeting Revises Seoul FX Market Code of Conduct Won-Dollar Trading Allowed on All Days Except Weekends and January 1 Starting from July 6, the trading hours for the won-dollar foreign exchange market via brokerages will shift to a 24-hour non-stop system. The current trading window, which runs from 9 a.m. to 2…
EUR/GBP continued to engage in sideway trading last week and outlook is unchanged. Initial bias remains neutral this week first. On the downside, decisive break of 0.8610 support will revive the case of bearish trend reversal. On the upside, break of 0.8728 resistance will bring stronger rally back towards 0.8740 resistance. In the bigger picture,…
EUR/JPY’s rally from 182.01 resumed and continued last week despite interim retreat. Initial bias is back on the upside this week for retesting 187.93 high. Strong resistance would be seen from there to bring reversal, to extend the corrective pattern from 187.93 with another falling leg. For now, risk will stay on the upside as…
GBP/JPY edged higher to 214.66 last week but retreated since then. Initial bias remains neutral this week first. On the upside, above 214.66 will extend the rebound from 210.43 to retest 216.58 high. Strong resistance is expected there to bring reversal to extend the corrective pattern from 216.58 with another falling leg. On the downside,…