Daily Forex Technical Forecast – Will the Dollar plunge lower on risk appetite?
Risk-on flow dominates the market this week. Safe havens like the dollar are severely beaten while equities and commodities maintain an upbeat mood. Let’s take a look at the technical forecast of the dollar and the major FX pairs. Will the dollar drag lower? The dollar resumed the long-term bearish trend on Friday and has […]
Mid-week market forecast: Dollar plunges across the board
It’s the mid-week and the dollar is bleeding against its major peers. The dollar index is down below 90. The downside remains more attractive ahead of the US core-CPI data. The greenback couldn’t sustain last week’s surge that took the DXY to 90.7. It only gained a significant 1.65% – highest since the late October […]
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 […]
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. […]
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 […]
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 […]
December 3 Market Updates and Forecasts – Risk drivers, Stocks, DXY & Gold
Risk sentiment headlines are mixed on Thursday as traders weigh on which (hopes or concerns) would have a bigger impact on the market. Market is driven by vaccine and stimulus hopes amid rising Covid cases On the fore-front of risk aversion is the rising global Covid cases. Lockdowns are therefore extended in France, Germany, and […]
Dollar plummets to 30-month low as risk appetite improves
The dollar is back on the back foot this week as the dollar plummets to 30 months low. Further decline is very much likely to 90 as the current risk-on pushed stocks to fresh highs. Risk appetite has improved in the last quarter of the year. Although rising Covid cases is capable of inflicting global […]
Gold bearish onslaught – how much lower should we expect?
Gold has fallen over 11% since August as the world fights back against the ravaging virus. With yesterday’s break below 1845, the yellow metal is set to plunge further. The recent vaccine development is taking attention away from Gold as a safe-haven instrument. Investors are confident that the pandemic virus will be maintained and economies […]