Ikuti kemeriahan aktiviti yang dijalankan oleh Weltrade Malaysia.
GBP/USD charted a Doji candle on Wednesday, neutralizing the immediate bearish outlook. Tuesday’s low is now the level to beat for the bears. GBP/USD created a Doji candle at the confluence of the 200- and 100-day simple moving averages (SMA) on Wednesday. A Doji candle occurs when an asset sees two-way business but ends the […]
Gold is testing critical support as the US dollar shows there is still some life to it. The stimulus is now fading which is a hurdle for the bullish trend in gold. Gold prices are testing the bull’s commitments at the support structure around $1,906 in what could be a final test before the next leg higher of
AUD/JPY is probing the 50-day SMA hurdle, having hit three-week lows on Friday. The Asian stocks trade in the red on fears of fresh coronavirus lockdown restrictions. Risk aversion favors a deeper drop in the AUD/JPY pair. While AUD/JPY has bounced up from three-week lows, it struggles to chart a convincing break above a crucial
Gold prices print mild gains after stepping back from one-week high the previous day. 50-HMA, ascending trend line from Tuesday restricts immediate downside. 61.8% of Fibonacci retracement guards immediate upside ahead of the weekly top. Gold rises to $1,949, up 0.18% on a day, amid the initial hour of Tokyo open on Friday. In doing so,
EUR/USD trades near 1.1820 ahead of the ECB rate decision. Implied volatility metrics suggest traders don’t expect ECB to fuel big moves. Negative Eurozone inflation has fueled dovish ECB expectations. According to a widely-tracked options market metric, Thursday’s European Central Bank rate decision is unlikely to yield big moves in EUR/USD. Rangebound implied volatility EUR/USD’s
Brent crude’s three-month time spread is nearing the widest contango, a situation where the futures price is above the expected future spot price. It indicates the oversupply fears are coming back to haunt markets, according to Bloomberg. Brent oil fell by over 5.5% to $39.34 on Tuesday. That was the lowest level since June 16.
AUD/JPY keeps losses after key data releases in Australia and China. Australia’s trade surplus narrowed more than expected in July. China’s Caixin Services PMI for August bettered estimates by a big margin. AUD/JPY is trading in the red near 77.80 following the release of Australia’s trade data and China’s service sector data. The pair, however, has
GBP/CAD eases from one-week high amid bearish MACD. 50-day EMA, ascending trend line from July 23 offer key support. Multiple upside barriers to question bulls below the monthly top. GBP/CAD remains pressured while declining to 1.7320 amid Friday’s Asian session. The pair recently took a U-turn from the one-week top as a downward sloping trend
Gold is bounded by daily support and resistance ahead of the Jackson Hole event. Inflation will the theme again this week as the Fed Chair delivers insights to the road ahead. The market has started to liquidate longs, by then again, the positioning data is old news by now. Speculators were quick to buy the
AUD/JPY repeats recovery moves from 76.05/06 following its U-turn from 76.27. Australia’s July month Retail Sales grew 3.3% versus 2.7%. Market sentiment recovers as new cases in Victoria drop to five-week low, US-China trade talks likely to resume. Upbeat economics join anticipated easing in virus-led restrictions from Japan to strengthen the risk-on mood. AUD/JPY picks
