Dollar Index Outlook: Bulls Lose Traction But Hold grip, as Markets Await US Labor Data

GBP/USD is gaining pace above the 1.2660 resistance. EUR/GBP declined steadily below the 0.8572 and 0.8566 support levels. Important Takeaways for GBP/USD and EUR/GBP Analysis Today The British Pound is attempting a fresh increase above 1.2660.  There is a key bullish trend line forming with support near 1.2670 on the hourly chart of GBP/USD at […]

CADJPY surpasses key resistance levels, but enters overbought zone Next resistance at 117.93; support at 115.80-116.00 Canadian CPI inflation due for release at 12:30 GMT CADJPY is in the third consecutive week of gains, having experienced an impressive rally to almost reach the 117.00 round level following the rebound near the 50-day simple moving average […]

Direction was mixed yesterday, as Tuesday’s hotter-than-expected US CPI print gave cold feet to investors regarding the Federal Reserve’s (Fed) ability to cut interest rates as soon as in June. The S&P 500 and Nasdaq consolidated near record, energy stocks helped tempering losses in the S&P500 as technology stocks traded down. The dollar index rebounded […]