Introduction Short-term downtrend continues for AUD/USD as bulls face resistance The AUD/USD price action remains on a short-term downtrend as Australian dollar bulls face significant resistance in breaking above the long-term trendline. The recent failed attempt to surpass this trendline coincided with an overbought signal generated by the Relative Strength
In the near term, the GBP/USD currency pair is displaying a soft bias, indicating a potential downward trend. However, the pair is finding support from crucial levels, specifically a converged cushion ranging from 1.2625 to 1.2675. This support zone holds considerable significance as it aligns with an uptrend line from
The AUD/USD currency pair has witnessed consistent bullish sentiment among retail traders, according to recent data analysis. This article delves into the latest statistics, revealing the ratio of net-long to net-short positions, the duration of net-long positions, and the impact on the AUD/USD exchange rate. By examining the dynamics of
The Bank of Japan (BoJ) has long been criticized for its less-than-optimal communication strategies. One particular instance that caught the markets off guard was in December 2022 when the central bank unexpectedly widened its 10-year bond yield cap. This surprising move led to a substantial 4.3% drop in the USD/JPY
In the world of forex trading, monitoring the sentiment of retail traders can provide valuable insights into market dynamics. A recent analysis of retail trader data reveals that 36.68% of traders are net-long on GBP/USD, with a short-to-long ratio of 1.73 to 1. Taking a contrarian view, this suggests that
The AUD/USD currency pair encountered strong selling pressure on Friday, with the AUD/USD falling to its lowest level since early June, approaching the 0.6660 area. This downward movement was influenced by growing fears of a global economic downturn, following disappointing UK and Eurozone PMIs. Additionally, mixed US PMI results further
The USD/JPY pair experienced a notable surge, reaching its highest level since November 2022, near 143.90. This significant jump was propelled by a combination of factors, including the disappointing US Manufacturing PMI for June and soft Japanese inflation figures. The prevailing negative market sentiment resulted in a decline in US
The AUD/USD pair has experienced a second consecutive day of decline, reaching a two-week low on Friday. This negative trend has persisted for five out of the previous six days, erasing gains made after the pair reached a nearly four-month high last week. Currently trading around the 0.6715 area, the
Introduction: In the ever-evolving world of forex trading, the USD/JPY pair has attracted attention due to its recent rally. Despite facing minor corrections around the 143.50 level during the early London session, the pair maintains an upside bias. This article examines the factors influencing USD/JPY’s trajectory, including dampened market sentiment,
Introduction: In the dynamic world of currency trading, the GBP/USD pair has caught the attention of market participants. The forecasts and analyses provided by UOB Group’s esteemed Economist Lee Sue Ann and Markets Strategist Quek Ser Leang shed light on the expected path of this influential currency pair. As per
Introduction: The AUD/USD currency pair is currently facing a challenging period as it fails to maintain the rebound initiated in the previous trading session. Despite attempting to break above the 100-Exponential Moving Average (EMA) and overcome a descending trend line, the pair finds itself grappling with resistance levels and market
Introduction The USD/JPY pair has rebounded from its intraday low during the relatively inactive Asian session. This recovery comes as a result of contrasting statements by officials from the Bank of Japan (BoJ) and the Federal Reserve (Fed). BoJ’s Asahi Noguchi defended the central bank’s easy-money policy, emphasizing its role