US$ weakness continues but the AUD/USD has stalled at major resistance. The ASX-200 is also facing a challenge today to see whether it can close the week above the key 6,000 level. The ECB extended their stimulus by way of the Pandemic Emergency Purchasing Program (PEPP) and this helped, rather counter-intuitively, to boost the EUR/USD. […]
One of my subscribers asked me to review the GBP/AUD so this post is in response to this request and details what I am currently seeing on this currency pair. As always, I approach technical analysis from a top down perspective and start with a look at the monthly chart before drilling down to the […]
Every trading instrument I monitor is on the move, even Gold has joined the throng, BUT traders should be cautious and watch for any pause, especially on the AUD pairs. As I always warn: trends don’t travel in straight lines forever. The move on the EUR/USD will be in greater focus today given the ECB […]
Last week: The S&P500 has risen to all of the recent set challenges and accomplished them, seemingly, against great odds. The Index can be considered a gauge of broader risk sentiment and the monthly close above a recent 61.8% Fibonacci and the psychological 3,000 level are rather bullish signals. All of this coming against a […]
The US$ continues to struggle under the 100 level and the index will close with a large and bearish weekly candle. Risk appetite remains buoyed for the time being so it is not enjoying any flight to safety movement. Watch to see how this week’s ECB rate update impacts the FX indices.