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USDCAD can’t extend above swing area resistance, and backtracks lower to 100/200 hour MAs

June 30, 2023

The USDCAD moved up to test a swing area between 1.3271 and 1.3285 on Wednesday, and again yesterday on 2 separate tests. The high price …

Technical Analysis

The AUDUSD moves above the falling 100 hour MA. First trades above since June 20

June 30, 2023

The AUDUSD has moved above the 100-hour moving average of 0.66485. That is the first trade above that moving average since falling below on June …

Central Banks

Bank of Canada Q2 business outlook survey sees improving inflation expectations

June 30, 2023

64% of firms expect inflation to remain above 3% for the next two years, down from 79% in Q1 survey Demand for labor is softening …

Technical Analysis

GBPUSD moves back above technical levels as USD falls. Back above key swing area.

June 30, 2023

The GBPUSD has snapped back to the upside after tamer core PCE data. The move to the upside comes after the pair tested a swing …

Central Banks

Former ECB vice-president says the hiking cycle will end in July

June 30, 2023

Former ECB vice president Vitor Constancio says that falling inflation means that the final rate hikes from the Federal Reserve and ECB will be in …

Forecasts

The British Pound Q3 Fundamental Outlook – Rates and Recession

June 30, 2023

The Bank of England is trying to balance future interest rate hikes against a possible recession Source

Cryptocurrency

Bitcoin tumbles below the $30,000 level after SEC news. What next technically?

June 30, 2023

The SEC headlines on bitcoin sent the digital currency sharply to the downside. The price which reached a high of $31,260 moved down to a …

Technical Analysis

USDJPY backs off from overbought levels. What now?

June 30, 2023

The USDJPY moved to a new 2023 high (and high going back to November 2022) reaching just above a key swing area on the daily …

Technical Analysis

EURUSD moves back into consolidation area. What do you need to watch today in the EURUSD

June 30, 2023

The EURUSD moved higher in the early US trading and in the process as it reentered into the “Red Box” (see chart below), that was …

Technical Analysis

The GBP is the strongest and the CHF is the weakest as the North American session begins

June 30, 2023

The GBP is the strongest and the CHF is the weakest as the North American session begins. The USD is mixed ahead of the key …

Central Banks

PBOC reaffirms to implement prudent monetary policy

June 30, 2023

To implement prudent monetary policy accurately and forcefully To effectively support domestic demand expansion, improve private consumption environment To ensure delivery of housing, promote healthy …