Technical Analysis

February Global Macro Outlook: 3 Things You Need to Know

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au.investing.com/analysis/february-global-macro-outlook-3-things-you-need-to-know-200547841 February Global Macro Outlook: 3 Things You Need to Know By Kathy Lien   |  19 minutes ago (Feb 07, 2023 04:54) In the following video, I explain what I believe to be the 3 most important things to know about the global macro outlook in February.

S&P 500 Faces Uncertainty Amid Blockbuster Jobs Report, Chinese Balloon Incident

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Movements of the since the Fed’s interest on Feb. 1 indicate that despite the late weekly selling, the index still managed to close last week with a 1.6% gain.Thursday’s bumpy trading pushed the S&P 500 to 4195.49 before it then lost some gains; this was followed by a selling spree again on Friday from the…

EURUSD continues to step down. New lows for the day

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EURUSD continues its step lowerThe EURUSD EUR/USD The EUR/USD is the currency pair encompassing the European Union’s single currency, the euro (symbol €, code EUR), and the dollar of the United States (symbol $, code USD). The pair’s rate indicates how many euros are needed in order to purchase one dollar. For example, when the…

GBPJPY finds sellers near the 200 hour MA

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GBPJPY finds sellers near the 200 hour MAThe GBPJPY GBP/JPY The GBP/JPY is the currency pair encompassing the British pound of the United Kingdom (symbol £, code GBP), and the Japanese yen of Japan (symbol ¥, code JPY). The pair’s rate indicates how many Japanese yen are needed in order to purchase one British pound.…

EURUSD Is “Suspended”

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On Monday, the market major is neutral near 1.0800. The market has got all the info at hand: the decision of the Federal Reserve System to lift the interest rate by 25 base points and the confirmation of the ECB mood for it has lifted the rate by 50 base points. The Fed will go…

New dollar highs for the day against the EUR, JPY, CAD, AUD and NZD

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The dollars getting stronger with the greenback reaching new highs against the EUR, JPY, CAD, AUD, and NZD. The greenback is just off high levels versus the GBP and CHF as well. It has moved the most versus the JPY (up 1.24%)EURUSD: The EURUSD has moved below the 50% midpoint of the range for 2023…

AUDUSD moves lower and into the swing area between 0.6869 and 0.6893

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AUDUSD trades below its 50% retracementThe Reserve Bank of Australia is expected to announce a 25 basis point hike to 3.35% from 3.10% in the new trading day in Australia (at 10:30 PM ET). The expected rate hike is not helping to push up the AUDUSD. After reaching a high of 0.7157 on Thursday, sellers…

The USDJPY is moving toward the 50% midpoint of the trading range since the Dec 15 high

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The USDJPY moved lower in the Asian session and found support buyers against the high of a swing area between 131.297 and 131.567 (see green numbered circles) . The low for the day reach 131.574 before bouncing to the upside in the European session.USDJPY up testing the 50% midpointThe North American session has seen the…

USDJPY Jumps Above a Downtrend Line

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USDJPY shot up on Friday following the robust US employment report and opened with a positive gap today. The rally took the pair above the downtrend line drawn from the high of November 21, as well as above the key resistance (now turned into support) zone of 130.60. On top of that, today, the pair…

Gold Technical Analysis: Gold Price Collapses Against USD Strength - 06 February 2023

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At the end of last week's trading and amid the strong and sudden rise in the price of the US dollar following the announcement of stronger than expected figures for US jobs, the XAU/USD gold futures fell below $1900 to end the week's trading down.This is contrary to the performance throughout the week's trading.Last week's…

ANALYST PICKS

USD/ZAR Outlook: Rand Firms Against the Dollar as EM Currencies Gain

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Rand Dollar Outlook: Bearish continuation potential below 17.100USD/ZAR continues to trade at four-month lows ahead of US CPIUS Dollar weakness and China’s reopening support higher commodity prices, supporting Rand strengthThe 17.100 psychological level continues to provide support and resistance for the volatile currency pair with a move lower opening the door for bearish continuation.{{GUIDE|TOP}}Rand Strengthens…

Short GBP/USD as Dollar Repricing Risk Remains, GBP Vulnerable

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Short Cable (GBP/USD)Short GBP/USD ahead of important jobs data as the pair dips below the significant 1.2000 levelMarket pricing in contrast with the Fed’s tightening tone. Repricing potential rolls over into the NFP printThe analysis in this article makes use of chart patterns and key support and resistance levels. For more information visit our comprehensive…

USD/CAD Grapples with Support as Bearish Momentum Gains

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USD/CAD Vulnerable to Further Losses Below 1.3500Canadian Dollarbuoyed by USD weakness as bullish momentum subsidesUSD/CAD stumbles to support while psychological resistance firmsEconomic data continues to drive sentiment with price action vulnerable to event risk for the remainder of the week. FOMC Minutes reiterate the Fed’s commitment to taming inflation as Friday’s NFP's take center stage.…

EUR/USD Technical Setups in Play

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KEY POINTS: Recommended by Zain Vawda Get Your Free EUR Forecast EUR/USD OUTLOOKThe Euro Area has seen continued improvement in data releases of late evidenced by this morning’s upbeat German IFO survey on Business Climate. The Euro has gained 11% against the greenback since the end of September while printing a multi-month high around 1.0734…