forex

Bank of Japan: rate hikes not yet in the cards – Forex News Preview

Posted on June 14, 2018 at 2:22 pm GMT

The second quarter of the year did not enjoy a good start in Japan, with inflation and business indicators slowing down to warn policymakers that a move from stimulative monetary policies is probably not a good idea this Friday. Early on Friday at a tentative time, the Bank of Japan will make an announcement on interest rates and deliver its rate decision statement. Policymakers are widely expected to refrain from raising borrowing costs, maintaining short-term interest rates at minus 0.1% and keeping their ultra-easy monetary policy in place. This also includes continuing to buy government bonds in order [..]

Technical Analysis – NZDJPY mostly bullish in the short-term; enters Ichimoku cloud

Posted on June 14, 2018 at 10:20 am GMT

NZDJPY is trading around 300 pips above the one-and-a-half-year low of 74.54 recorded in late May, while it is relatively close to Wednesday’s two-month high of 77.85. The appreciation over the last couple of weeks is supportive of a bullish picture in the short-term. This is also projected by the positively-aligned Tenkan- and Kijun-sen lines, though the easing Kijun-sen is pointing to weakening positive momentum. Immediate resistance to advances seems to be taking place around the current level of the [..]

Technical Analysis – NZDUSD stands in Bollinger Band with weak momentum; consolidating in near term

Posted on June 14, 2018 at 8:49 am GMT

NZDUSD has been trading within a consolidation area over the last ten days with upper boundary the 0.7050 resistance level, which holds near with the upper boundary of the Bollinger Band, and lower boundary the 0.7000 handle, which coincides with the lower Bollinger Band. Moreover, the technical indicators are sending neutral signals, suggesting that the sideways move will continue. In the 4-hour chart, the RSI indicator is holding near the threshold of 50 and is moving slightly higher with weak [..]

Technical Analysis – USDJPY eases after touching 3-week high of 110.85

Posted on June 14, 2018 at 6:40 am GMT

USDJPY has come under renewed selling pressure today, falling below the three-week high of 110.85, achieved during Wednesday’s US session. The price failed to end the previous candle in green and fell once again below the 200-day simple moving average (SMA) in the near term. Looking at momentum oscillators on the daily chart though, they suggest further declines may be on the cards in the short-term. The RSI is above its neutral 50 line, detecting negative momentum, and is also [..]

Technical Analysis – EURGBP finds strong resistance at 200-SMA; holds in trading range in short term

Posted on June 13, 2018 at 1:05 pm GMT

EURGBP has remained in a trading range in the short-term over the last one-and-a-half month with upper boundary the 0.8840 resistance level and lower boundary the 0.8700 handle. The price has found strong obstacle at the 200-simple moving average (SMA) in the medium-term as it has been developing below it since the beginning of March. From the technical point of view, in the daily timeframe, the price is moving well above the 20- and 40-day SMAs, while the technical indicators hold above their neutral levels. The RSI indicator [..]

UK retail sales rebound seen as vital for August rate hike expectations – Forex News Preview

Posted on June 13, 2018 at 12:47 pm GMT

After this week’s extremely poor manufacturing and trade gap figures out of the United Kingdom, hopes of a rebound in economic growth in the second quarter have been dashed. That’s put the focus even more on Thursday’s retail sales numbers, scheduled for release at 08:30 GMT. Sterling is headed for further volatility in a week jam-packed with major data releases and Brexit risk events. British retail sales jumped by 1.6% month-on-month in April, recovering sharply from a dire performance [..]

Aussie eyes employment report before RBA minutes next week – Forex News Preview

Posted on June 13, 2018 at 12:36 pm GMT

Australia’s employment report for May is likely to attract investors’ attention and is scheduled for release on Thursday at 0130 GMT. The unemployment rate is forecasted to tick lower to 5.5% for the month of May from 5.6% in the preceding month, while the employment change is expected to show that the economy added 18,000 jobs, 4,600 jobs less than the previous month. Meanwhile, the participation rate is predicted to remain unchanged at 65.6%. The nation’s seasonally adjusted unemployment rate unexpectedly edged [..]

Technical Analysis – EURJPY remains neutral in positive territory above 38.2% Fibonacci

Posted on June 13, 2018 at 7:54 am GMT

EURJPY has struggled above the 38.2% Fibonacci retracement level of the downleg from 137.50 to 124.60, around 129.50 and below the 130.30 resistance level since Tuesday’s trading session. The sharp buying interest, especially in the previous week, has shifted the near-term bias from negative to positive as the price is in the process for a bullish correction. The RSI is currently moving above the threshold of 50, while the MACD is flattening in positive territory, both hinting that the next move in [..]

Technical Analysis – AUDUSD bearish in near term but stands near significant obstacles such as 23.6% Fibonacci and SMAs

Posted on June 13, 2018 at 6:34 am GMT

AUDUSD is looking more bearish again as it had a failed attempt to surpass the 38.2% Fibonacci retracement level of the downleg from 0.8135 to 0.7410, around 0.7690 in the prior week. Currently, the price is developing below the 23.6% Fibonacci of 0.7580 and within the 20- and 40-simple moving averages (SMAs) in the daily timeframe. Looking at momentum oscillators in the short-term timeframe though, they suggest neutral to bearish momentum, suggesting further downside movement may be on the cards. The [..]

Dollar firm as rate hike imminent; But will Fed also raise rate path forecast? – Forex News Preview

Posted on June 12, 2018 at 1:47 pm GMT

The US Federal Reserve is widely expected to deliver a 25 basis points increase to its benchmark interest rate on Wednesday. The announcement, due at 18:00 GMT on Wednesday, will come alongside the FOMC’s quarterly economic projections and will be followed with a press conference by Fed Chair Jerome Powell 30 minutes later. With a rate hike mostly priced in by the markets, the debate is whether the Fed will feel confident enough to signal two additional rate hikes this [..]

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