Forex Market Review

  • Metals: best friends of traders in 2021? – FBS

    Do you remember last December? Back then, there were halfway solved uncertainties related to the US-China trade deal and long-lasting disputes over the post-Brexit relations between the United Kingdom and the European Union. With plenty of this and plenty of that, the gold was still higher than in 2019. Now, let’s go back to the ...
  • Appetite for risk returns slowly but steadily – FBS

    Ichimoku Kinko Hyo EUR/JPY: The pair is trading above the cloud. An upward pressure would lead the pair to exit further the cloud, confirming a bullish outlook. Fibonacci Levels XAG/USD: Silver after still is struggling to move above 23.6% retracement area. US Market View The U.S. Congress passed the $900 billion coronavirus relief bill, sending it to President Donald Trump for its ...
  • GBP minimize losses as Brexit pessimism – FBS

    Ichimoku Kinko Hyo EUR/JPY: The pair is trading above the cloud. Further bullish pressure will lead the currency pair to retest the previous highs. Fibonacci Levels XAU/USD: Gold after important gains consolidates below a full retracement. European Market View Asian equity markets traded cautiously despite fresh record levels on Wall Street. European stock markets are seen opening lower Friday, with doubts again ...
  • USD/JPY: resilient above 103.00 but for how long? – FBS

    Ichimoku Kinko Hyo CAD/JPY: The pair is trading below the cloud. A downward pressure would lead the pair to exit further the cloud, confirming a bearish outlook. Fibonacci Levels XAG/USD: Silver is trading strongly higher and achieves a full retracement. Bulls control the market. US Market View US stocks are set to open mixed, ahead of the ‘quadruple witching’ today as December ...
  • How deep may pound dip? – FBS

    The pound has slumped against other major currencies amid fears over the no-Brexit deal. More details have recently come out over EU-UK tensions. Let’s get into them straight away. What happened? The European Commission claimed on Thursday that it would give a deadline up to the end of September to the United Kingdom to back out the ...
  • Good news for Alibaba – FBS

    Alibaba’s affiliate Ant company may become the largest IPO not only now, but also in the entire history. Let’s discuss what it may mean for traders. What is Ant? Jack Ma founded both Ant Group and Alibaba, the latter has a 33% stake in the fintech firm. Ant Group, or, as it is sometimes called, Alibaba’s fintech ...
  • Brexit dead end: GBP sharply dropped – FBS

    What happened? Firstly, the British PMI exceeded all expectations. It turned out 55.3 for Manufacturing PMI and 60.1 for Services. Moreover, earlier the EU PMI came out worse than anticipated: Manufacturing PMI – 51.7 and Services PMI – 50.1 vs expected 52.7 and 54.6, respectively. Positive British and negative European economic indicators led to an enormous ...
  • EUR/USD stabilized below 1.1950 – FBS

    The most traded pair takes a breath after reaching levels unseen since May of 2018. It has been rallying for 7 days in a row and eventually broke through the significant resistance at 1.1900. It was a strong sign for most traders. However, profit-takers entered the market and pushed the pair slightly down. Nevertheless, bulls ...
  • South African Rand is boosted by risk-on mood – FBS

    Goldman Sachs claims the ZAR may rise further, if global markets keep rallying. Let’s discuss it in detail. Fundamentals The South African Rand has depreciated a lot during the coronavirus pandemic. Indeed, the emerging economy was struggling from many different problems. The virus spread made things even more complicated. The rand has even become one of the ...
  • GBP: gaining versus others currencies – FBS

    Fundamentals The British pound surged higher amid the optimistic news of the upcoming Brexit agreement. Recently, David Frost, the chief EU-UK negotiator, claimed that the deal may be done in September. Just to remind you, the deadline is scheduled for December 31. Meanwhile, it’s always the EU, which makes final decisions. The UK had already broken ...
  • Bullish Euphoria for US Equities – FBS

    Forex Market Analysis Ichimoku Kinko Hyo CHF/JPY: The pair is trading in a bullish sentiment above the cloud. The currency pair has just surpassed the Kijun-sen and the Tenkan-sen, confirming a bullish momentum. Fibonacci Levels XAU/USD: Gold is trading on the key point of 38.2% retracement. It seems that a correction is still taking place. US Market View US stocks are set to ...
  • AUD jumped after job data – FBS

    AUD approaches the strong resistance at 0.7185. What may happen next? Fundamental overview Today Australia reported that 114 700 its citizens found jobs in July. That numbers beat all estimates, as analysts anticipated only 30 000. Analysts may set such a low forecast because Australia was suffering from the fresh virus resurgence, especially its state Victoria. Australian ...
  • EUR/USD: trading sideways – FBS

    The pair bounced off the key resistance at 1.1900. All eyes on the NFP. Fundamentals The overall trend of EUR/USD has been bullish since the middle of March. The main reason for that rally has been the weak greenback. Why does the USD continue dipping? Firstly, investors avoid it as yields are decreasing in the USA. Secondly, ...
  • GBP/USD looks persistent – FBS

    Forex Market Analysis: GBP/USD formed a pin bar with a long lower shadow. This may mean that buyers are ready to resume the uptrend – a least to make the price test the recent high near 1.3160. We would pick the 1.3110 mark for entering a buy trade. Support levels lie at 1.3050 and 1.3000. Trade ...
  • EUR/USD: bearish prospects – FBS

    Some analysts believe the euro will lose its gains in the third quarter. What are the reasons? Indeed, EUR/USD has shown the best performance for almost a decade. It managed to surge from 1.1200 to 1.1900 during July. However, economists from Danske Bank foresee the pair to retest 1.1200 again. Why did EUR/USD rise? Firstly, the better-than-expected EU ...
  • PEPSICO stock: going steady – FBS

    The long-term picture is pretty clear for the Pepsi stock. Over the 10-year run, it has been consistently increasing in value. It left 2010 with $60 per share and reached its all-time high at the very beginning of 2020. There were turbulent periods, especially in 2019. However, nothing seemed to be able to kick this stock ...
  • USD/CNH: falling down – FBS

    The pair has broken down two strong supports. What’s next? Fundamentals The US dollar is loosening against the Chinese yuan. There are some obvious reasons for that movement. The first reason is the weak US dollar as the USA is suffering from the record resurgence in new cases. Investors are questioning its future economic recovery. The second reason is that, unlike the USA, ...
  • Gilead rose after it priced remdesivir – FBS

    What happened? Gilead Sciences has priced this Monday its coronavirus-fighting drug – remdesivir. The price will depend on the buyer. For example, the US government will have to pay $2 340 for a 5-day course of the drug, US private insurance companies – $3 120. Also, they will significantly cut prices to nearly $500 for developing ...