AUD/USD: Close to Triangle Border

The aussie has broken down out of the sideways consolidation range on the weekly chart. It will probably now eventually fall to the lower border of the multi-month triangle at 0.9780, however, it has already reached strong support from the level of the monthly pivot at 0.9830, which could lead to a bounce first, with a move above 0.9920 giving bullish confirmation of a rally,…

1. Current trend

The pair has been in the downward channel for the whole month and is unlikely to change direction. Last week AUD/USD sharply went down to the level of 1.0000, which was successfully exceeded. This decline was 11-month lows for the pair.

At the moment the pair traded near the level of 0.9900 and it seems that the pair is going to test this level for some time.

Technical indicators do not give clear directions. Stochastic is in the oversold zone,…

As reported by Market Leader (US)

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1.Current trend of the currency pair AUD/USD

The currency pair AUD/USD has traded in the narrow range of 1.0205-1.0160 since Tuesday; however on Thursday, after the release of positive data from Australian labour market, the price tried to reach resistance level of 1.0250, as part of ascending correction, but failed to break it down. After that the pair rapidly declined and within 24 hours it lost about 200 points, reaching the lows since June last year. The rise in…

1.Current trend of Brent rate

Crude oil Brent has traded in the range of 105.50-103.50 this week. Sideways movement of oil quotes is explained by some uncertainty in the market. On the one hand, investors are concerned about deterioration of economic situation in EU countries. Situation in China is not very optimistic either; economic indices of the country are declining, which shows slowdown in economic pace. On the other hand, oil process are supported by tension in…

The Canadian Dollar is coming up against resistance and will probably fail if the USD starts a new uptrend.

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AUD/USD: Bouncing off range lows

The aussie has bounced off the monthly pivot and the consolidation range lows at 1.0150 and reached the 1.0250 level, just shy of the key 1.0255 which would add confirmation of a possible reversal. We will probably now get a move above 1.0255 confirming upside and another leg higher, with a possible initial target at the 50-day MA at 1.0340. It is then possible it will be…

1. Current trend of EUR/USD



Yesterday European currency went up against the USD. Growth in the pair was provoked by strong economic data on German industrial output, which amounted to 1.2% against the forecast of 0.1%. The pair went up, breaking down resistance level of 1.3120, which triggered the increased in demand of Euro.

The pair almost reached the level of 1.3200, after that it fell and continued trading in the sideways correction near the level of…

1. Current trend of the currency pair GBP/USD

On Wednesday currency pair GBP/USD continued upward correction, regaining from sharp decline on Tuesday. The price has reached the level of 1.5590; however the “bulls” failed to reach the 56th figure. The rise of the Pound was driven by sharp increase of the housing price index in Great Britain, which amounted to 1.1% in April. Usually the rise in housing prices follows after the revival of construction sector of economy.…

1. Current trend of the currency pair NZD/USD

The currency pair NZD/USD has been in the downtrend this week and by Thursday the pair has lost about 200 points, going down to support level of 0.8380. However, after publication of the data on employment and unemployment rates in New Zealand, the pair tried to regain some losses. Note, that macro-statistics from labour market of New Zealand was positive: unemployment rate was 6.2%, which is the lowest level since 2010,…

EUR/USD: Long-Term P&F Target

A long-term target of 1.4100 has been fixed on the 50 pip box point & figure chart as illustrated below. This is quite a reliable chart for trading longer-term based on results from the last 12 years. Now to activate the target and trigger a trading opportunity the exchange rate would have to move up to 1.3250 in the current column. This would also trigger a triple top…

As reported by Market Leader (US)

There are many traders who think they can trade Forex successfully with ease. Is it really so? The stats show that only 5% to 10% of Forex traders do actually make money in the long run. Yet, the stats remain almost unchanged for years while new beginners keep entering the Forex trading environment, being excited by catchy promising commercials and big promises. They start trading big off the bat but…

AUD/USD: Correcting Down-move

The current rally in the aussie which began on the 2nd of May is probably a correction which will run out of steam, most probably at 1.0345 where the 50-day MA and a down-sloping trend-line intersect. After that we could see the next leg lower take shape, falling down to 1.0195 initially but ultimately to the wider consolidation lows at 1.0150. Alternatively, a break above 1.0385…

EUR/USD: Bearish signs, ECB on tap

Eurodollar has stalled in its up-trend and formed a bearish shooting-star candle on the daily chart. On the hourly chart there is a head and shoulders pattern with a neckline at 1.3145. If the pair breaks below the neckline it will probably move down towards the trend-line at 1.3085. Alternatively it is possible the up-trend could resume again, with a break above 1.3200…

The Commerce Department has informed that the trade deficit has narrowed to $38.8 billion during the month of March from $43.6 billion in the previous month. Consensus was calling for a deficit of $42.0 billion.

1. Current trend

After sharp decline in the gold price in the middle April, gold is gradually regaining from losses. After reaching the level of 1584 USD per troy ounce, gold suspended growth and is presently in the consolidation phase. It is likely that today’s meeting of the Central Bank will have an impact of the price movement, as the interest rate will to be probably reduced by 25 basis points at the meeting. Tomorrow the data on the U.S. labour force excluding…

EUR/USD: Rising within a consolidation

Overall the EUR/USD pair is trading in a chaotic range in between 1.3180 and 1.2980. Within that sideways band, however, it seems to currently have an upside bias. A break above the 1.3120 highs would be key in confirming a continuation higher, with an upside target at 1.3160 where the 100-day MA is situated. Today has been a down day so far, however, and…

EUR/USD: Bearish Short-Term Bias

The EUR/USD pair is trading sideways after recovered from a possible H&S top. This morning prices have risen within the range and re-touched the 50-day MA from where they will probably pull-back. The overall short-term trend remains bearish and a decisive break below the trend-line at 1.2995 would probably lead to a move down to 1.2890. To get bullish again I'd want to see…

The Foreign Exchange Market: Theory and Econometric Evidence

Patrick C. McMahon This book provides an integrated approach to recent developments in the understanding of foreign exchange markets. It covers the theory of efficient markets as developed in finance, and the models used to explain the movements of exchange rates in macroeconomics. The authors deal with the econometric estimation and testing of different models and theories of the foreign exchange market and…