Currencies

The Aussie started off on a good footing, but dovish comments from the governor of the Reserve Bank of Australia (RBA) eventually push it into negative territory

The current week starts with losses, same way the previous ended, despite the fact that it constituted its third straight profitable one and was accompanied by new month highs

Australia’s largest trade partner, China, released improved Retail Sales and industrial production for the month of October, providing a boost to the Aussie and to overall market sentiment

This week starts with improved sentiment, helped by better than expected economic data from China, which works against the US Dollar.

High US Inflation and the relevant rise in US Yields and Fed rate hike bets, were the main themes during this week and the key drivers of market movement, while we also had some high profile companies reporting

Past performance is not an indicator of future results The left chart shows the USDOLLAR daily. It sits in the area of strength (upper blue and upper red bands). The red Bollingers are expanding as dollar volatility increases. The right chart shows the hourly time frame. Current price action is at a confluence of support [central pivot (P) and price support (blue rectangle)]. We are looking to see if the…

The pair started the day strong, but has since erased most of its gains and trades mixed, as it approaches to the end, of what is likely going to be a profitable week

Past performance is not an indicator of future results Further to our previous analysis, gold's EMAs are pushing for a more bullish formation. EMAs are trend-following indicators and work under trend conditions. Consolidations tend to lead to whipsaw signals. The shorter-term green EMA has moved into a bullish position, and we are now looking for the mid-term orange EMA to cross above the longer-term red EMA (aqua ellipse). If this…

Past Performance is not an indicator of future results. The weekly EURUSD is examined on several levels: 1. Head and shoulders top (blue rectangles). The positively sloped aqua line shows the pattern's neckline. The vertical aqua line derives the pattern's target following its breakout. The target is 1.1134 and is academic - it may or may not be achieved. However, it does give the sense of bearishness associated with breakdown.…