Author: Admin

The AUD/USD pair fell to its lowest in three weeks, reaching as low as 0.7916.  The Australian Dollar was hit by comments from RBA’s Lowe, who repeated that that rises in global rates do not have automatic implications for Australia, somehow indicating that the current on-hold stance will be extended. Also, affecting the commodity-linked currency were gold prices, which has now broken the support at 1300. In the short-term, the pair is set to extend its slide, with the next relevant support being 0.7870, the low set on August 31st….

GBPUSD continued with its strong upward momentum that that had been the case for the past few weeks, and in fact it exploded to the upside last week. The fall of GBP since mid year 2016 had been mainly due to worries around the uncertainties of Brexit. However, this fear had subsided for now and inflation has become the main focus. As a result of that BoE had become more hawkish in their meeting last week. The result of this was the explosion to the upside last week. Trading idea…

Bank of Canada surprised the markets on Wednesday, 6 September. As a result of that USDCAD sliced down through an established weekly uptrend line. At this point, selling the rallies is the way to go. Any exhaustive candle formed after a rally is an opportunity to sell, unless the pair can go back above the mentioned uptrend line again, which is far fetched at this moment. 1.20 is a psychological support level, a break below it could send the pair further down to 1.18 level and even to 1.15 level.

As expected, the EURUSD pair continued to move higher due to dollar weakness that was carried over from Friday. This weakness in the dollar has been due to the failure of Yellen to address monetary policy during her speech on Friday and also due to the fact that Draghi also did not choose the address to talk anything about the strong euro in his speech as well. In the past, European officials have been known to talk down the Euro if they see it appreciating too much. Draghi also spoke…