Tag: AUDUSD

AUD/USD Dropped Below Mid-0.6400s – Dollar Weakens Amid Jobless Claims!  

The AUD/USD currency pair failed to stop its previous 4-session losing streak and dropped just below mid-0.6400s, mainly due to the risk-off market sentiment, which keeps the risker assets, including Aussie dollar under pressure. The broad-based U.S. dollar strength also weighed on the currency pair and contributed to the currency pair earlier declines.  The AUD/USD […]

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AUD/USD On a Bearish Run – Stronger Dollar In Play!

The AUD/USD was closed at 0.65298 after placing a high of 0.65477 and a low of 0.64922. Overall the movement of AUD/USD pair remained throughout the day as bullish. Aussie pair was flashing green on Friday due to the new hopes that emerged after the easing of lockdowns from all over the world, which will make the economic recovery faster. However, the pair was also supportive of the easing of Sino-US trade conflicts. On Friday, the Reserve Bank of Australia published its Monetary Policy Statement, which showed a sharp cut in the economic forecast of this year. Though it was as expected due to the ongoing coronavirus pandemic lockdown. According to the policy statement, the GDP of Australia was expected to be contracted by 10% in the quarter and 5% in the year. The unemployment rate for the year 2020 was expected to jump to a peak of 10%. The inflation projection was made negative as -1% in this quarter.  According to RBA, fiscal measures would drive the economy in order to boost economic growth. However, there were no hints about the further easing of measures by the policymakers in the latest policy statement. Australian Dollar was rebounded after the Sino-US trade relations took a positive turn after both parties announced to fulfill their phase-one promises. Donald Trump, while considering the state of Beijing amid coronavirus lockdown, threatened to impose new tariffs if China failed to buy $200 worth U.S. farm goods. After that, trade representatives from both sides held

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Daily F.X. Analysis, Oct 01 – Top Trade Setups In Forex – RBA Cash Rate Focused!

On Monday, China warned the Trump administration against such actions because they could affect the upcoming high-level trade talks in Washington between US-China Officials. In response, Peter Navaro, White House trade adviser, dismissed the reports and said that they are “fake news. The U.S. Dollar Index rose and placed a 4-weeks high on Monday and moved to 99.113. The robust U.S. Dollar made Gold prices to fall below $1500 and set a 2-months low of $1464.  Today, all eyes stay on the RBA Cash Rate as the Reserve Bank of Australia’s governor, Philip Lowe is very likely to cut the interest rates from 1.00% to 0.75%. Lately, the Reserve Bank of Australia’s governor, Philip Lowe, provided confusing directions about the policy. By the time of writing this, the RBA has already cut the interest rate to 0.75% from 1%; the Aussie is still supported as investors have already priced in 25 base point rate cut.  Economic Calendar – RBA Rate Out     BTC/USD – Daily Analysis Bitcoin price action continued mostly stable over the weekend session. The ballooning selling activities thwarted an attempt to break above $8,400. At the same time, the falls beneath $8,000 were defended above $7,900. The Bitcoin has already placed a high of $8,066, following an opening of $8,052. The hourly chart displays the price over the descending trendline resistance. Nevertheless, the immediate bullish trend is capped by moving average resistance.  The 50 SMA is limiting bullish trend at $8,510, and the 100 SMA currently stands

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Daily FX Analysis, Sep 03 – Trade Idea’s for BTC EUR & AUD – RBA Cash Rate In Focus!

On Monday, the greenback has been the undisputable leader of the Forex board, particularly through the last week of trading, in what shifted a rather momentous month of August, characterised by the intensification of the US-China trade war, with the latest releases to hike tariffs coming into effect this last Sunday.  Earlier today, during the Asian session open, the dollar index was at its highest in more than two years versus the bucket of 6 major currencies, while global stocks were punished by U.S.-China trade disputes. China has lodged a complaint against the United States at the World Trade Organization over U.S. import duties, the Chinese Commerce Ministry said on Monday. With that, the market continues to follow the safe-haven appeal, keeping investors cautious. Economic Calendar – RBA Rate & ISM Manufacturing     BTC/USD – Daily Forecast The price of Bitcoin (BTC) has surged over the past few days and has again passed the $10,000 threshold. Previously, the Bitcoin lost $600 just in the course of a half-hour — sinking below the $10,000 mark before collapsing to a weekly low of $9,362 on Aug. 29. The price has slowly increased since then and is currently trading over $10,400, up 6.54% from its previous 24-hour value. The BTCUSD has already violated the immediate resistance area of 9791 and the psychological area of 10,000. Previously we discussed, the BTC has reversed from a suggested support area of 9315. Sentiment remained bullish with an immediate resistance around 9,800 and 10,049. On the

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Daily FX Analysis, Sep 02 – Quick Outlook of BTC/USD, AUD/USD and Gold! 

The Dollar Index soared to a two-year high on Friday, climbing 0.6% on the day to 98.81. On Sunday, fresh U.S. and China tariffs progressed into effect. Meantime, the U.S. president proceeded to pile weight on the Federal Reserve, tweeting: “The Euro is falling against the Dollar like crazy, providing them a great export and manufacturing advantage…and the Fed does NOTHING!” The euro fell 0.8% to $1.0991, posting a five-day losing strip to the lowest level since May 2017. Official data revealed that eurozone core CPI rose 0.9% on year in August (vs. +1.0% anticipated and +0.9% in July), while the jobless rate was poised at 7.5% in July (as foreseen). Economic Calendar – Labor Day Holiday     BTC/USD – Daily Forecast Bitcoin developers have been attempting to get the world’s most famous cryptocurrency extra beneficial for payments, with the slightly dubious Lightning Network one of the most attractive projects. Nevertheless, severe safety vulnerabilities have this week been found on the Bitcoin Lightning Network, which could end in users losing their bitcoin if links are not updated. The BTC/USD pair is correcting the cutting rally from the low of $3,236.09 to the high of $13,973.5. Pullbacks that gain support between the 38.2% and 50% retracement levels are deemed strong. A broader pullback under the 61.8% Fibonacci retracement level decreases the likelihood of a resumption of the uptrend. BTC/USD – Daily Technical Levels Support Resistance  9,477.2      9,725.74 9,336.9      9,833.98 9,088.36   10,082.52 Pivot Point 9,585.44  BTC/USD

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Daily FX Analysis, Aug 21 – Brace for FOMC Meeting Minutes, Major Trade Setups!

While people enjoy summer holidays, the financial markets are experiencing thin volatility and lack of trading volume, which is why the Asian session has remained a bit quiet from the trading viewpoint. During the previous sessions, a decline in Treasury yields sent bank shares lower, which undermined the financial sector-weighted S&P 500 and Dow. Benchmark 10-year yield dropped nearly five basis points on Tuesday, or 0.05 percentage points, to 1.54% and triggered the risk-off sentiment for the second time this week. BTC/USD Bitcoin is trading at $10,200 amidst a building bearish momentum. BTC/USD is likely to plunge under $10,000 and even explore last week’s lows $9,469 as Bitcoin has already completed 61.8% Fibonacci retracement on the 4 hourly timeframes. Economic Calendar – FOMC Meeting Minutes As the markets prepare for the FOMC meeting minutes due out later today, Boris Johnson will be in focus early in the day.     EUR/USD – Going Nowhere, Sideways Channel Plays On Wednesday, the EUR/USD pair continues to consolidate within a narrow trading range of 1.1115 – 1.1070 as investors are finding no solid reason to determine the trend in Euro and US dollar. Previously, the single currency Euro experienced a macroeconomic setback, as data from the Union was generally discouraging. However, German PPI m/m data managed to underpin Euro’s demand. German PPI – For July 2019, the PPI (Producers Price Index) soared by 1.1% compared with the similar month of the preceding year. In June 2019 the annual rate of change all over had been +1.2%,

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