Three Majors, Three Reversals

It has been a hectic week for the FX world. I believe the weeks to come will be even more hectic and the old adage to sell in May and go away might not count this year. Which pairs I believe are poised to reverse and why. Please find below my ideas and thoughts. 1) […]

3 reasons why GBP/USD hit 10-month lows

The GBP/USD is trading close to 1.3000, the lowest since September 2017. Everything is going against cable, with three critical drivers. The GBP/USD is under the cosh, hardly holding onto 1.3000. These are the lowest levels since the first week of September last year. What is going on? Here are three reasons for the fall: […]

Powell pressures EUR/USD and more could come

The EUR/USD is trading on lower ground, with Powell’s power driving it down. The second day of Powell’s testimony is the main event of the day. The technical picture is turning darker, but the pair still has support. The EUR/USD is trading in the lower part of the 1.16 handle, losing ground for the second day in […]

Easier falling than rising for EUR/USD

The EUR/USD is trading lower as the US Dollar sweeps the board. While it has some room to recover, the path of least resistance remains to the downside. The Technical Confluences Indicator shows that the most significant hurdle awaits at the 1.1685 region which is the congestion of the potent Fibonacci 38.2% one-day, the Fibonacci 388.2% one-week, the Bolinger Band one-hour-Middle, and […]

No news is good news for the Euro. Again.

The EUR/USD is extending its very gradual climb, breaking above downtrend resistance.  Powell’s testimony may trigger much more significant moves. The EUR/USD is extending its gains above 1.1700, trading in limited ranges. The US Dollar is generally on the back foot as no news is good news for financial markets and not-so-great news for the greenback. Nevertheless, […]

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