NZD/USD Consolidates Amidst Lack of Catalysts
The pair lacks firm direction, as risk tones normalize today, following a few tumultuous days that culminated to new 2021 lows earlier in the week
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The pair lacks firm direction, as risk tones normalize today, following a few tumultuous days that culminated to new 2021 lows earlier in the week
Weekly Chart The weekly chart below makes for an interesting analysis. This week's candle (aqua arrow), which is still to be completed, is a doji. This is a candle of uncertainty. Bulls tried to take the price up and the bears tried to take the price down, however, despite intentions, the price remains relatively flat for the week. Given the uncertainty surrounding omicron, the doji candle is not surprising. However,…
Sentiment took another nosedive yesterday on news of the first Omicron case in the US, but today the pair rises, in the aftermath of Mr Powell’s two-day hawkish commentary
Risk is at a better place today, allowing the pair to extend its recovery from Tuesday’s 2021 lows, caused by mr Powell’s hawkish testimony
Past Performance: Past Performance is not an indicator of future results. The left chart shows the USDOLLAR daily timeframe. The candlesticks have pulled back but remain in the bullish area, between the upper blue and upper red bands. Yesterday, Fed Chair Powell testified in front of the Banking Senate Committee. The Fed has pivoted. Concerning the word "transitory" in describing inflation, Mr. Powell said that it's "probably a good time…
Fed Chair Powell offered hawkish remarks during yesterday’s Senate testimony and created volatility in the markets, with the pair being soft today
Weekly Timeframe The below shows the weekly timeframe of FXCM's USDOLLAR basket. We have applied a triple moving average system to assess its trend. The green shorter-term moving average is above the mid-term orange moving average, and the mid-term orange moving average is above the longer red-term moving average. This is a bullish formation. The weekly stochastic is also above 80 (aqua arrow), which suggests underlying bullish momentum. Past Performance:…
A new wave of risk aversion was witnessed earlier, which sent more flows towards the Japanese Yen, as news around the Omicron variant continue to dictate market moves
The pair rises after its poor start to the week, as renewed Omicron jitters, lead markets to a repricing of their Fed tightening expectations
The XAUUSD daily chart is not trending despite the emergence of the omicron covid variant. The news shook risk markets on Friday, but gold's price action was not able to capitalise. As the risk-off sentiment took hold, bulls pushed gold's price up. However, at the apex, they lost control to the bears, and the price closed well off of Friday's high (aqua arrow). Moreover, we have added a triple moving…
The pair plunged on Friday after news of a new concerning Covid-19 variant, which sparked a risk-off wave, but today it covers some of the losses
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