Week Ahead – US GDP and BoJ Decision on Top of Next Week’s Agenda

GBPUSD drops below uptrend line Price remains within sideways channel MACD and RSI indicate neutral-to-bearish bias GBPUSD dropped beneath the long-term ascending trend line and the 200-day simple moving average (SMA. Nevertheless, it has not escaped the consolidation area of 1.2520-1.2820, which has confined the price action since November 24. Currently, the pair is trying to recoup some […]

USDJPY fell sharply (down 1% in immediate reaction to US jobs data) after US NFP dipped well below expectations in July (114K vs 176K f/c), while June’s figure was revised down to 179K from initial 206K. Unemployment unexpectedly rose to 4.3% in July from 4.1% June / consensus, while average earnings rose by 0.2% last […]

DXY: The DXY (US Dollar Index) chart currently exhibits an overall bullish momentum. In this context, there is a potential scenario for price to make a bullish continuation towards the 1st resistance. The 1st resistance level at 103.50 is identified as a pullback resistance that aligns with the 78.60% Fibonacci retracement level. Higher up, the […]