Intraday Market Analysis – USD Seeks Support

USDJPY tests daily support The yen consolidates gains after a drop in Japan’s unemployment rate. The pair has met stiff selling pressure at March 2017’s high (115.50). The drop below 114.80 then 114.00 has forced short-term positions to bail out, exacerbating the sell-off. The US […]

Market Update – November 30– Stocks at ups & downs

Omicron remains in focus and warnings that it will leave current vaccines far less effective and that it will take time to modify and produce new ones has seen markets adjusting growth forecasts and central bank projections. USD (USDIndex 96.00 up from 95.92 low) saw […]

USDJPY – struggling to correct after a heavy fall on Friday

USDJPY, H1 Panic from the emergence of the Omicron variant resulted in the safe haven currency pair falling sharply on Friday from a high above 115.50 to a low of 113.00 and it is now trading back to this key 113.00 level after panic eased […]

Oil markets recover but volatility is never far away

USOil, H1 Oil prices have backed up from Friday’s lows and the front end WTI future saw a high of $72.16 per barrel this morning, as markets mull OPEC action. Russia’s Deputy Prime Minister Novak said a meeting of the OPEC+ joint ministerial monitoring committee […]

New Covid Variant: How Worried Should Traders Be?

As expected, trading on Friday was quite unusual. Of course, the big move was due to the sudden announcement of a new covid variant, that the WHO has designated as “omicron”. And now we all want to know what that means for the markets going […]

GBPJPY End of Correction Hints At Fresh Highs!

In the long run, GBPJPY seems to be forming a cycle impulse. Now the third part of this impulse, wave III, is under development. Only the second half of the bullish impulse wave III is visible on the current chart. It seems that the price […]

Intraday Market Analysis – Yen’s Rally Gains Traction

EURJPY breaks double bottom The safe-haven Japanese yen soars on news of a vaccine-resistant covid variant. A bearish MA cross on the daily chart indicates weakness in the euro’s previous rebound. The pair has closed below last September’s low at 127.90, a major floor to […]

Gold Weekly Review

The weakening of the global stock market last week, the sharp decline in global bond yields, the hot ball of inflation and fears of a new virus variant continue to color the fluctuations in metal commodity prices. The new virus variant and increasing cases in […]

Market Update – November 29 – Omicron dominates sentiment

USD (USDIndex 96.30) recovers from Fridays slump (95.98), Stocks lost over –2.2% in thin half-day trading, Oil FUTS lost –13%, Gold slumped and Yields tanked (10-yr 1.482%) on a safe haven (JPY & CHF bid) risk off day. (and a strange carry trade bid for […]

The Week Ahead – Markets Fly to Safety as New Variant Looms

EURUSD slides as Europe battles fifth wave The euro plunges as the pandemic situation worsens across the continent. A record rise in covid cases has prompted Austria and Germany to consider imposing another round of lockdowns, with others to follow suit. Now that Europe accounts […]