The AUDUSD might be in corrective waves before resuming a move to the upside, while I am no expert in Elliott wave theory, I have some basic knowledge of the waves. the market might continue correctly downward to complete the ABC correction wave, the best move would be if the market corrects t

AUDUSD breaking below the lower Bollinger Band with several following candles showing slowed downtrend. If we close the current (circled) candle successfully and fully above the bottom band, simplicity is expected. Next resistance lines are noted (drawn off the daily with at least two touched) with

Daily Pivots: (S1) 0.7118; (P) 0.7146; (R1) 0.7193; Intraday bias in AUD/USD remains neutral with focus on 0.7192 support turned resistance. Sustained break there will indicate completion of the pull back from 0.7413. Intraday bias will be turned back to the upside for retesting this high. On the do

Deputy Governor Guy Debelle said on Tuesday that Australia's central bank is assessing various monetary policy options including currency market intervention and negative rates to meet its inflation and employment goals.  More here: RBA's Debelle: RBA is assessing currency market intervention AUD/

AUD/USD bounces off rising-wedge support to print four-day winning streak. Repeated failures to stay strong past-0.7300 prints a bearish a chart pattern. Buyers will remain worried unless crossing 0.7416, 200-bar SMA and a six-week-old rising trend line add to the support. AUD/USD picks up bids nea

Daily Pivots: (S1) 1.1788; (P) 1.1814; (R1) 1.1855; EUR/USD spikes higher in early US session but quickly retreated. It’s after all staying in range below 1.1965 and intraday bias remains neutral. On the upside, break of 1.1965 will extend the whole rise from 1.0635. However, considering bearish div

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Reuters reports comments from a senior US official, citing that he sees a 'real desire' by some Democrats and Republicans to reach agreement on smaller stimulus deal. Smaller deal of around $500 billion between White House and Congress could include funding for postal service, other items, he noted.

Dollar index extends four-day losing run, eyes 26-month low of 92.52.  Multiple factors like the US fiscal impasse, SIno-US tensions weight over the greenback.  Dollar index, which tracks the value of the greenback against majors, is trading in the red near 92.66 at press time. The index is nursing

At 8:30 am ET Tuesday, U.S. producer price index for July is set for release. Ahead of the data, the greenback traded mixed against its major counterparts. While the greenback held steady against the euro, it dropped against the rest of major rivals. The greenback was worth 1.1795 against the euro,

The U.S. dollar exhibited strength against other major currencies on Monday amid the ongoing tensions between the U.S. and China, and U.S. President Donald Trump signing executive orders aimed at extending coronavirus relief to Americans. The executive orders include an extension of expanded unemplo

White House chief of staff Meadows has crossed the wires and has said it was a `very productive meeting' with Pelosi on the aid bill. Will return for talks with House speaker Pelosi Tuesday. The update comes as the Congressional Republicans are growing frustrated with the two Trump administration

Risk assets closed on a more favorable note Tuesday after news broke that Moderna Inc's Covid-19 vaccine produced antibodies to the coronavirus in all patients in the initial therapeutic trial. Oil doesn’t benefit specifically from the forward-looking conjecture oomph to the extent that equities do

The US dollar finally came under some selling pressure on Thursday after the US set another record high of more than 59,000 coronavirus cases on Wednesday. The numbers moderated a bit today but medical facilities across the nation are getting slammed, positivity rates are alarming and the death rate

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