- Monday, 06 August 2018
- Weekly Fundamental Analysis
GBP/USD Weekly Forecast - 6 August - 10 August
The GBP/USD pair closed at the 1.3000 figure, down for a fourth consecutive week, as broad dollar's strength coupled with tepid UK data. The Markit Services PMI for July came in at 53.5 vs. the expected 54.7, the lowest in three months. The pair came under strong selling pressure on Thursday, as despite the BOE rose rates by 25pb as expected, Governor Mark Carney warned about the effects on a no-Brexit deal, referring to chances of that happening as "uncomfortably high" at the moment. The lack of progress in Brexit negotiations is what keeps the Pound away from speculators' radar these days. Talks between the UK and the EU will resume next week.
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- Monday, 06 August 2018
- Weekly Fundamental Analysis
AUD/USD Weekly Forecast - 6 August - 10 August
And there goes the AUD/USD pair to close a seventh consecutive week at around 0.7400. The constant bombarding of trade war headlines opposes to dominant dollar's strength, leaving the pair directionless. There was a brief hope for bears early Friday, but China came to change it all after the PBoC adjusted the reserve requirement on FX forwards trading to 20% effective August 6th, sending the pair from a 2-week low of 0.7347 back to its current comfort zone.
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- Saturday, 28 July 2018
- Daily Technical Analysis
EUR/USD Daily Forecast - 30 July
The Euro has continued the fall that it started on Wednesday, reaching down towards the 1.1625 level. Ultimately, I believe that the 1.16 level also be supportive and I also recognize that there is an even more rigid “floor” near the 1.15 handle. Because of this, even though I think the market could continue to go lower, I am currently looking at an opportunity to start buying. At this point, I believe that the market will probably continue to go back and forth, but with the ECB suggested that loose monetary policy was going to be needed going forward, I do think that rallies will be a bit sluggish.
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- Saturday, 28 July 2018
- Daily Technical Analysis
GBP/USD Daily Forecast - 30 July
The British pound has drifted a bit lower during the trading session on Friday, reaching below the 1.31 handle. However, I think there is plenty of support below at the 1.30 level to keep the market afloat. I believe that there should be plenty of demand in that area, and I would be more than willing to throw money into this market. At this point, I believe that any selloff should be a nice opportunity, with the limited downside that I see on the chart. Ultimately, I’m waiting to see whether we get an opportunity to find significant value in the British pound. At this point, I believe that selling doesn’t make much sense, because I believe that a lot of the negativity is already “baked into the British pound.” Overall, the market is one that if you are patient enough, you should get a nice opportunity.
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