A Technical Reversal To The Upside For Euro

The EURUSD currency pair on the 4-Hour Chart has been following a downward path since 27 March 2020, having found resistance at the 1.11470 level. The formation of the Japanese candlestick reversal pattern known as Long Black Body signaled the very beginning of the downward bias. The high prices attracted sellers who entered the market […]

Is The Risk Rally Going To Last?

As we start the new quarter with the overriding question of whether the risk rally has legs, or is this the time to review renewed bearish exposure – here are a few charts that are on my radar: S&P500 daily % ranges – We closed the S&P500 cash session -1.6%, with the index tracking a 2.7% […]

The USDJPY Is Set To Test Lower Prices

The USDJPY currency pair on the Daily Chart has been following an upward path since 9 March 2020, having found support at the 101.178 level. The formation of the Japanese candlestick reversal pattern known as Bullish Engulfing signaled the very beginning of the upward bias. The low prices attracted buyers who entered the market with […]

Euro Finds Lifeline On The Upside

The EURUSD currency pair on the 4 Hours Chart has been following a downward path since 9 March 2020, having found resistance at the 1.14098 level. The formation of the Japanese candlestick reversal pattern known as Evening Star signaled the very beginning of the downward bias. The high prices attracted sellers who entered the market […]

EURUSD – The Bears Are In Control, Eyeing More Decline

The EURUSD currency pair on the Daily Chart has been following an upward path since 20 February 2020, having found support at the 1.10779 level. The formation of the Japanese candlestick reversal pattern known as Bullish Engulfing signalled the very beginning of the upward bias. The low prices attracted buyers who entered the market with […]

Growth Estimates Make For Sobering Read

Not that we need it, but how’s this for a sobering call? JP Morgan change its growth estimates – Now see US Q1 GDP at-4%, and-14% in Q2 GDP – In China, they see Q2 -41%, Europe Q2 GDP -22% and 30% in the UK Unemployment Spike JPM see US unemployment rising to 6.25%, just […]

Banks Move To QE

It has been another incredibly lively morning, with the initial focus on the RBNZ, who cut rates by 75bp, and told the world they are prepared for QE, although fiscal levers are considered even more important. This complemented the moves on Friday from BoC and PBoC and we should see actions from the BoJ and […]

Markets Wait For Strong Action

We are just awaiting the ECB meeting, but it is assured we’ll get a rate cut, and we should see the asset purchase run-rate increase to E30b. The market has priced those measures in, so it will be about whether Lagarde can channel her inner Draghi and go further out the dovish spectrum with something […]

Swissy – Bears are in control pushing prices lower

The USDCHF currency pair on the 4 Hours Chart has been following an upward path since 9 March 2020, having found support at the 0.91818 level. The formation of the Japanese candlestick reversal pattern known as Morning Star signaled the very beginning of the upward bias. The low prices attracted buyers who entered the market […]

Chris Weston Weekly Gold Update 11th March

In this week’s gold traders report we focus on the massive move higher in real US Treasury yields in the past two days. We also judge the impact that has had on the USD, which coincidently had its best day since 2016. USDJPY and EURUSD have been well traded in this USD move, with USDJPY […]

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