EUR/USD will have to make a decision sooner rather than later

The EUR/USD is sticking to its range, not going anywhere fast. The narrowing wedge will force the pair to take a decision quite soon. Tension is mounting towards US GDP and the ECB’s decision. The EUR/USD trading in a relatively narrow range just under 1.1700, consolidating its losses from yesterday. The US Dollar advanced on Monday amid leaks […]

GBP/USD: Recovering will be hard, downside looks more appealing

The GBP/USD is trading above 1.3000 but is losing some ground. Holding onto current levels may be hard and recovering may be even harder. The Technical Confluences Indicator shows that cable faces significant hurdles to the upside. The first notable one is at 1.3090which is the convergence of the Fibonacci 38.2% one-week, the Simple Moving Average 50-one-day, and […]

GBP: A Lot Of Negativity Now In The Price – Barclays

The British Pound is trading above 1.3000 but still remains under a lot of pressure. Did it suffer too much? Here is their view, courtesy of eFXdata: Barclays Research discusses GBP outlook and argues that while GBP remains susceptible to headline risk but a lot of negativity is already priced. “Despite the softness in June inflation […]

USD/CAD Forecast July 23-27 – CAD quietly recovering

Dollar/CAD spent most of the week trading in narrow ranges as no news on the trade front helped the loonie stabilize. The upcoming week features only one Canadian event, leaving the market mood as the primary driver of the pair. Here are the highlights and an updated technical analysis for USD/CAD. Canada’s Foreign Securities Purchases fell […]