EURJPY Moves Beneath Its Lifetime High of 174.60

Market participants have started to question the earlier high earnings growth prospects placed on the “Magnificent 7” stocks. The past month of record low implied correlation among S&P 500 component stocks can increase the odds of a more pronounced spike in the VIX. The S&P 500 is at risk of shaping a medium-term (multi-week) corrective […]

GBPUSD’s bull run slows down near a familiar resistance area Some stability is likely; sellers need a close below 1.3188 to gain control GBPUSD opened the week with marginal losses after its almost uninterrupted two-week rally was rejected near the key resistance trendline at 1.3229 for the third time. While the bulls are trying to […]

NZDUSD is up almost 5% so far in August Further gains are likely, but risk of near-term correction is high NZDUSD is trading near seven-month highs on Wednesday, as the pair continues its August bull charge. However, there appears to be some resistance in the 0.6250 area where the intersecting long-term descending trendline is providing […]