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DXY: Potential Direction: Bullish Overall momentum of the chart: Bullish Price could potentially make a Bullish bounce off pivot and head towards 1st resistance Pivot: 104.16 Supporting reasons: Acts as an Overlap support and aligns with a 23.60% Fibonacci Retracement, providing a strong base for potential upward movements. 1st support: 103.92 Supporting reasons: Offers Pullback […]

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07/03/2024

USDJPY Correction Picks up speed

USDJPY is edging aggressively lower today and closing in on a key support area This is the bears’ first attempt to push USDJPY significantly below the 150 level Momentum indicators support the current correction USDJPY is recording its third consecutive red candle as recent comments by BoJ members are potentially opening the door to a monetary […]
01/12/2023

Swiss Franc Hits 4-month High, GDP Beats Forecast

Swiss franc climbs to 4-month high Swiss GDP rises 0.3% US ISM Manufacturing PMI expected to rise slightly The Swiss franc is lower on Friday. In the European session, USD/CHF is trading at 0.8723, down 0.22%. Swiss franc continues to climb The Swiss franc continues to power higher against a slumping US dollar. USD/CHF has […]
23/04/2024

Focus on April PMIs Today

In focus today In the euro area, focus today will be on the euro area PMIs for April. The previous months’ PMIs have shown a return of the two-speed economy with the service sector in expansionary territory and manufacturing sector stuck in contraction. We expect that service PMIs will remain above 50 as rising real […]