May 21, 2018
After getting so much choppy sessions last week we have seen a bullish moves which mainted our bias as bullish on the pair. As base currency is USD so strong demand can be witnessed universally. Both bulls and bears are fighting with each other but seems like bulls have taken the advantage but we will get further bullish confirmation once pair trade above the 1.3000 level.
Continue reading “USD/CAD: Bulls are moving in uptrend channel”
May 21, 2018
The Swiss Franc is considered as safe haven currency at the time of uncertainty as due to strong dollar demand pair moved towards north side as the 10 year US Treasury yield benchmark is also breaking above multi years highs.
Currently pair is trading at 0.9984 which is very crucial territory as we can see that its previous swing’s high. Earlier bulls were making higher highs and higher lows but now bulls are struggling after arriving near 1.000 level which is a strong resistance level. Well pair is trading at make or break level so traders and investors are advised to sit aside for the time being as long as we see a valid move on either side.
Continue reading “USD/CHF: Pair is trading at make or break level”
May 18, 2018
The pair is trading at 110.89 level and making successively higher highs and higher lows on day to day basis. Poor Japanese data and supporting US data has lifted the pair towards north side. The national CPI data was down by 1.1% which was the key factor to take the advantage by bulls. Traders and investors are showing their interest to buy the USD as they have bullish bias for USD as the widening 10 years differential is too attractive to ignore.
Continue reading “USD/JPY has become the sky rocket”
May 18, 2018 10:30 AM
From past couple of days we can observe that tug of war going on between bulls and bears. Well from technical point of view it has breached the 0.7500 level which is psychological level but it could not sustain below that level. A daily closing below that level will confirm the valid breakout. The way pair is trading it is advised to sit aside for the time being as long as we see valid breakout on either side.
Continue reading “AUD/USD: Tug of War between bulls & bears.”
May 16, 2018 11:00 AM
Gold future dropped nearly 2% on Tuesday morning as the USD increased 0.75%.
Gold broke below $1300 to $1291 per ounce before a small bounce.
The dollar rose as interest rates increased, with the yield on the 10 year note reaching as high as 3.065% before falling off. Rates increased after the release of the latest retail sales data, which came in at 0.3% month over month growth for April, below analyst estimates of 0.4%, which is still considered strong. Retail sales for March were revised to 0.8% from 0.6%.
Continue reading “Gold: Heading towards South, as dollar getting strengthen”