Forex

Past performance is not an indicator of future results Following our previous analysis, the USDOLLAR has built off of its reference low. This week's price action has charted the next higher peak in a series of higher troughs followed by higher peaks. The USDOLLAR is in a defined uptrend. Furthermore, the greenback's momentum has increased throughout 2021. This is evident by the shift up in gradient from the green trendline…

Yesterday’s surge in US CPI Inflation boosted US 10 year Bond Yields and bolstered expectations around rate hikes by the Fed, leading the pair to one of its best days of the year

Past performance is not an indicator of future results The GBPUSD has charted a lower peak followed by a lower trough on a weekly time frame. This is the definition of a downtrend and is considered cable's primary trend. Moreover, the weekly stochastic is rolling over (aqua ellipse); a movement towards the lower quintile (aqua arrow) will be off of GBPUSD weakness. Giving momentum to cable's primary price trend, UK…

Wednesday’s hot US CPI Inflation provided the catalyst for breaking below the key 1.1492 support and new 2021 lows

The pair enters its third straight losing day and sheds more than 0.5% on the week, having taken a double hit from high US CPI Inflation yesterday and poor Employment data from Australia today

US Consumer Price Index soared in October, with the Core reading rising to 4.6% y/y, compared to 4.0% in September. The pair’s original reaction was lower, as conventional wisdom dictates, but it quickly reacted higher

The pair is sensitive to the US Bond Yields movements and today’s rise in the 10-Year one, fuels its recovery, along with broader cautious sentiment that seems to also benefit the US Dollar more

The pair struggled for direction yesterday as markets lacked conviction and risk tones were mixed, but today it slides, as risk-off mood prevailed during the Asia-Pacific session

Further to an earlier analysis, GBPUSD has started to lose its upside momentum. Past performance is not an indicator of future results. The right chart shows the daily GBPUSD time frame. Here, price is in the weak area between the lower blue and red bands. The daily RSI is also on the weak side of 50. The right chart shows the hourly times frame. Here, price has rallied to the…

Last month was its first negative one since May and despite a solid start in November, the pair is range-bound this week and lacks conviction, as investors appear to wait for the US CPI inflation data on Wednesday

Yesterday's USDOLLAR article indicated that the primary trend of the greenback is up. Today we zoom in on the price action. Past performance is not an indicator of future results. The left chart shows the USDOLLAR daily time frame. Price remains in the strong area between the upper blue and upper red bands. Moreover, the daily RSI is on the bullish side of 50. The right chart shows the hourly…