EURUSD Turns Neutral Amid Double-Top Formation

Cable edges higher following Wednesday’s post-US election 1.1% drop, generating an initial signal of recovery, after bears repeatedly experienced strong downside rejection. Double failure to register clear break of Fibo support at 1.2846 (76.4% of 1.2664/1.3434) points to formation of a double-bottom pattern (1.2843/34) as nearby 200DMA (1.2813) also produced headwinds to bears. However, more […]

The RBA Board is uncertain, including about the staff’s judgements about demand and supply. But is being data-dependent any better? Much has been made of the number of times the word ‘uncertainty’ or its variants appeared in the minutes of the RBA Board meeting in August. Perhaps more noteworthy was the increase in the number […]

GBPJPY gains ground after upbeat UK CPI data Technical signals endorse bullish efforts Buyers need confirmation above 197.35 GBPJPY advanced to an intra-day high of 197.77 after hotter-than-expected UK CPI inflation data gave traders confidence that the Bank of England might hold interest rates steady in December. Earlier, the pair had built a solid base around 194.70, […]