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Market Analysis

Market Spotlight: EURJPY Weekly Bullish Pin Bar

EURJPY Bullish Pin BarRecent price action in EURJPY has caught my eye. The decline from May highs has seen the pair breaking down below the rising channel, trading as low as a test of the 128.43 level...

Market Spotlight: Trading July US Manufacturing

US Manufacturing Data Up NextLooking ahead to today’s US session, the main data focus will be the release of the US flash manufacturing PMI for July. This will be the first glimpse at activity over...

Market Spotlight: Trading The July ECB Meeting

ECB In FocusThe July ECB meeting is the main focus today and for the week in sum. With the market firmly expecting a dovish result, the ECB will likely need to surpass these expectations in order to...

Market Spotlight: AUDCAD Threatening Support

AUDCAD To Break Lower?AUDCAD has sat in a block of consolidation along the .9251-.9267 level support for the last month and half now. While the pair recently attempted to break higher, the rally was...

Market Spotlight: EURUSD Falling Wedge

EURUSD On WatchThe current price action in EURUSD is worth monitoring into tomorrow’s ECB meeting. Following the breakdown below the 1.1961 level, the decline has been much more laboured, with weaker...

Market Spotlight: GBPUSD Hits Initial Target

GBPUSD Reversal UnderwayThe GBPUSD double top trade is back on track now. The brief recovery above the neckline and 1.2800 support has since folded with the pair reversing and heading down to the...

Market Spotlight: AUDJPY First Target Hit

AUDJPY Breaks LowerThe AUDJPY short trade is developing well now with price having broken through the initial target at 80.69. With MACD and RSI both bearish here, there is room for a continuation...

Market Spotlight: AUDUSD Approaching Second Target

AUD Sell Off ContinuesThe sell-off in AUDUSD is gathering pace again here with the pair now close to hitting the second target at .7339. With MACD and RSI both bearish here, the outlook remains...

Market Spotlight: AUDJPY Short Update

AUDJPY Turning Lower Again The AUDJPY breakdown trade was triggered on the initial move below 82.02. Despite a pullback above the level, price subsequently ran into further selling pressure on a...