Weekly Market Outlook – USD adds to gain, Crypto shed profits
The new week started with profit shedding as the general market mood fell. The stock markets are shedding profit, thus, dragging riskier FX along. Metals are on the bounce while the oil market started the week on the downside. The dollar ended last week bullish despite a poor December US job data. Bitcoin with other […]
Daily Forecast- Technical Analysis of Major FX Pairs Ahead of NFP
The dollar resumed gains on Friday against other major currencies ahead of the first NFP data of the year. Let’s look at what the charts are printing ahead of the important event. Spotlight will be on the US’s first employment data of the year on Friday. Meanwhile, the dollar has been active early in the […]
Forex Majors Elliott Wave Analysis: January 5 Update
There was a decent volatility on Monday in the Forex market as the dollar gained over its major peers. Risk-off was driven by fears of the new Covid stain spreading amid vaccine administration. We are going to look at the technical analysis of the major FX pairs. Recent developments in the market A new variant […]
January 4 Market Report – Major risk drivers and headlines
In the first trading week of the year, the market started in a positive mood, further setting the Dollar and safe-havens backward. Wallstreet hit fresh record highs. Meanwhile, Ethereum, Bitcoin, and the Crypto market continue to steal the spotlight. Major Risk Drivers Covid & Vaccines The virus continues to spread quickly in 2021. The new […]
Gold Technical Forecast – Is the bearish phase really out of the picture?
Gold fell sharply on Monday toward the 1845-1850 support zone. Technically, can we say the bullish push from 1760 has signaled the end of the bearish phase? Gold is an interesting asset. Many times, it exhibits a safe-haven nature just like we saw when the pandemic was strong in the first half of the year. […]
Markets panic on new Covid strain as Congress agreed on fresh aid
The market mood went south on Monday as the latest Covid development from the UK threatens to ruin Christmas celebrations. Flights to and from the UK are now isolated. The dollar is gaining against its peers as funds flow into safe-havens. Meanwhile, US lawmakers have reached a $900 billion deal for stimulus. Looking ahead in […]
Brexit Forecast: GBPUSD technical and fundamental outlook
GBP pairs are pushing higher on Wednesday ahead of an important Brexit summit in the evening. The two parties are yet to reach a compromise on the issues that continue to drag down negotiations. GBP is very much subject to the Brexit risks. The currency moves with Brexit headlines, positive and negative alike. As the […]
Daily Market Update – December 7 European Session and the week ahead
Another bearish onslaught on the Pound Sterling across the board as Brexit hits a rock. The dollar is recovering as the week starts on risk-off. Meanwhile, traders and investors’ concern on US-China relations will increase although much of the spotlight will be on Brexit, ECB and BoC this week. Vaccines roll-out to begin this week. […]
Market Forecast- EURCAD paints downside possibilities amid rallying oil prices
EURCAD might turn downside next week as oil prices shoot higher. Meanwhile, the EUR may stay neutral or even retreat after making multiple highs in recent weeks. The strength of the oil market could trigger a sharp decline on EURCAD as fundamental and technical factors support the bears more. The currency pair has gained over […]
Daily Market Update – December 4 European Session
Bid for safe-haven currencies fell this week thus causing plunging dollar and yen. The US stock markets hit a fresh high as well as Bitcoin. Meanwhile, Brexit deal talks will continue on Monday. Covid vaccination is expected to start in the UK and US in December as death tolls hit 1.5 million. Here is the […]