Canadian Dollar looking better despite NAFTA nonsense

A weak US Dollar and rising oil prices help the loonie. Monthly Canadian GDP and the Fed decision stand out. The technical picture is bearish but the FX Poll points to the upside. This was the week: Ignoring trade issues and higher oil prices NAFTA negotiations resumed between Canadian Foreign Minister Chrystia Freeland and USTR […]

GBP/USD buying opportunity? May could be posturing

A defiant MAy more sent the GBP/USD plunging 1.50%. The PM’s position may be a political move ahead of her party’s conference. The downfall could turn into a buying opportunity. UK PM Theresa May said she always treated the EU with respect and expected the same. She said she will not accept tearing up her […]

USD/JPY awaits the Fed in an uptrend channel

The USD/JPY extended its gains on higher yields and as markets ignored the tariffs. The Fed decision is left, right, and center in the last week of September.  The pair is trading in an uptrend channel on the daily chart. This was the week: Ignoring trade, yielding to yields The US finally announced its decision […]

GBP/USD losing uptrend channel on Brexit troubles

The GBP/USD is struggling with 1.3200, down from near 1.3300 on Thursday. The EU rejected MAy’s Chequers proposal in the Salzburg Summit.  The technical picture remains bullish for the pair. The GBP/USD is having a hard time holding onto the round 1.3200 level on Friday. The primary driver is the Salzburg Summit. The markets were […]

XRP/USD targets 0.5252 as the Ripple rally continues

Ripple is on fire, enjoying a spectacular recovery. There are three levels for the 40% jump, and the move may not be over just yet. What levels should we watch? The Technical Confluence Indicator shows that an initial target is at $0.4817 which is the convergence of the four-hour high, the Bolinger Band 15-Upper, and the 1h-high. However, this […]

EUR/USD getting a bit of altitude sickness

The EUR/USD is trading near 1.1800, holding onto high ground. Markets are calm about trade and ignoring other concerns.  The technical charts show the pair is flirting with overbought conditions. The EUR/USD is trading just below 1.1800, holding onto the gains it enjoyed on Thursday. A risk-on atmosphere dominates financial markets. The US announced a 10% tariff […]

EUR/USD eyes a happy Friday after rallying on Thursday

The EUR/USD made a significant move to the upside and consolidated in the upper part of the 1.1700 handle. What’s next? The Technical Confluences Indicator shows that the pair is currently battling the 1.1788 level. This is the convergence of the Pivot Point one-month Resistance 1, the Bolinger Band 4h-Upper, the BB 15m-Upper, the 4h high, and the 1h-high. The next […]