Weekly Market Update 3 July- Dollar Holds Steady at 102.9 as PCE Data Dampen Rate Expectations 1. The DXY index remained unchanged at 102.9 after the release of cooling PCE price index data. The CB Consumer Confidence survey reported a reading of 109.7 on Tuesday, surpassing
Weekly Technical Analysis Report 30 June – Bearish outlook on GBPUSD 1. This week’s outlook on GBPUSD: Bearish outlook seen Currently, there is bearish order flow, with lower highs and lower lows being formed on H4 timeframe. A throwback to the support-turned-resistance zone at 1.2700,
Weekly Market Update 26 June – Fed’s Hawkish Testimony Drove Dollar Above 102.8 1. The dollar exhibited strength last week, closing above 102.8, mainly driven by the hawkish testimony from Fed Chair Powell. His emphasis on a data-dependent approach to interest rate policy and his
Weekly Technical Analysis Report 23 June – Bearish outlook on AUDUSD 1. This week’s outlook on AUDUSD: Bearish outlook seen The price on the H4 timeframe has recently breached the consolidation range of 0.6750 and 0.6800, indicating a breakout. A throwback to the resistance zone
Weekly Market Update 19 June – Dollar pares early gains as Fed signals rate pause 1. The dollar index pared early gains to fall from 103.7 to a month low of 102.1. This has been spurred by a “hawkish pause” in last week’s meeting where
Weekly Technical Analysis Report 16 June – Bearish outlook on USDCAD 1. This week’s outlook on USDCAD: Bearish outlook seen On the 4H timeframe, there is bearish order flow, forming lower highs and lower lows. A pullback to key resistance zone at 1.3350, which is
Weekly Market Update 12 June – Weak PMI, Rising Unemployment Claims Drove Dollar Below 104 1. The dollar index weakened to touch a week-low, falling below 104 to 103.3. The optimism from the debt ceiling resolution faded quickly, after weaker-than-expected services PMI data. Markets were
Weekly Technical Analysis Report 9 June – Bullish outlook on AUDUSD 1. This week’s outlook on AUDUSD: Bullish outlook seen Price is hovering above a key support zone at 0.6650, which is in line with the 23.6% Fibonacci retracement, on H4 timeframe. A throwback to
Weekly Technical Analysis Report 5 June – Bullish outlook on USDJPY 1. This week’s outlook on USDJPY: Bullish outlook seen Currently, there is bullish order flow, with higher lows and higher highs created. A break above upside confirmation at 140.80, followed by a throwback to