The Impact of Fresh Supply on NZD/USD Pair on Thursday Background The NZD/USD pair encountered fresh supply on Thursday, leading to a reversal of a significant portion of the previous day’s gains. The pair reached a one-week high of 0.5985 before spot prices dipped to a daily low in the mid-0.5900s during the early European…
EURUSD Price Forecast: Wedge Pattern Suggests Limited Weakness Ahead Introduction The EURUSD pair came down as expected to a new low after a wave 4 corrective rise. The price is now seen in a wave back, back at the 1.0830 support level. Therefore, the wedge shape of the price action may suggest limited weakness and…
The Curious Case of EUR/USD: A Rollercoaster Ride What’s Going On? EUR/USD seems to be stuck in a never-ending loop, struggling to gain any recovery momentum despite bouncing off multi-day lows. The pair is currently hovering around 1.0870-75 in the early hours of Friday’s Asian session, after hitting a six-week low the day before. It’s…
The Fluctuating Gold Price: What Investors Need to Know Introduction Gold price (XAU/USD) has been flirting with the crucial support level of $1,900 as investors eagerly await the Federal Open Market Committee (FOMC) minutes for guidance on inflation and the interest-rate peak. The precious metal has been facing selling pressure as the US Dollar and…
The USD/CAD Pair: Analyzing Recent Trends Selling Pressure at Two-Month High The USD/CAD pair recently experienced selling pressure after reaching a two-month high of around 1.3500 during the early New York session. Despite positive United States Retail Sales and higher-than-expected Canadian inflation data for July, the Loonie asset dropped amid a sell-off in the US…
NZD/USD Posts Modest Gains Amid Risk Aversion Introduction The New Zealand Dollar (NZD) has posted modest gains against the US Dollar (USD) in the North American session as investors flock to safe-haven assets amidst China’s real estate woes. This risk aversion has bolstered the Greenback, which is further supported by high UST bond yields. The…
EUR/USD lacks clear directions around 1.0980-85 during early Friday After a Volatile Thursday EUR/USD is currently lacking clear directions around the 1.0980-85 mark during the early hours of Friday’s trading session. This comes after a volatile Thursday, where the currency pair initially saw a fresh two-week high before ultimately closing the day with minor gains….
The USD/CAD pair reaches two-month high near 1.3400 resistance In the European session, the USD/CAD pair hit a fresh two-month high near the critical level of 1.3400. The rally in the Loonie asset has been fueled by renewed optimism among investors, who are anticipating further interest rate hikes by the Federal Reserve. Over the past…
