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 […]

Mid-week technical analysis – USD off to intraday correction

The Dollar Index (DXY) has gained nearly 0.6% this week after falling short in the three weeks prior. The greenback has dragged the major currency pairs along as it sheds some profit on Wednesday leading to a bearish correction. Let’s take a technical look at some of the major pairs for the second half of […]

Market Update – The impact of a weak dollar on major instruments

The bulls won last week in the equities market despite the uncertainties concerning the US extra stimulus package. The dollar was on the backfoot against its peers. Thus, the greenback has maintained an inverse correlation with the stock market. Gold bid is maintained despite perceived risk aversion while Oil prices shed some gain. Over the […]

Daily Market Analysis: near zero Fed rates plan supports the Dollar

The dollar jumped by 0.7% on Wednesday after the US Federal Reserve concluded its two-day monetary policy meeting with major focus on keeping the interest rate near zero until 2023. Here is today’s daily market analysis The US Central Bank is unrelenting in its effort to support its economy following the Coronavirus hit. After injecting […]