Acetal-dehyde-fx

Acetal-dehyde-fx

The Japanese Yen closed at its weakest level against the US Dollar since early November after USDJPY rose the most since late July. In response, retail traders increased their exposure to risk decrease in the exchange rate. The IGCS gauge shows that only about 20% of retail traders are net-long USD/JPY. Since an overwhelming majority of them are biased to the...

Acetal-dehyde-fx

GBP/USD continues to be weighed by important immediate resistance at the August 10 high of 1.2820, slightly below another barrier at the xx high of xxx, reinforcing the bigger-picture consolidation. So far, the pair is holding above quite strong converged support at the end-June low of 1.2600, a shade above the 200-day moving average. Only a break below the May...

Acetal-dehyde-fx Updated 

As the session closed, gold hovered near a recent 1-month high, after unsurprising US inflation data and lower employment also raised expectations that the Federal Reserve The Federal Reserve will continue to keep interest rates unchanged this year. US gold futures also fell 0.4 percent to $1,965.90. Data on US inflation, measured by the PCE index, increased by...

Acetal-dehyde-fx

The British Pound still remains vulnerable to the US Dollar as the new week begins. On the daily chart below, GBPUSD can be seen hovering on the neckline of a bearish Head & Shoulders chart formation around 1.2648. Watching how price action develops in the near term will be key. A breakout lower, with confirmation, could open the door to an increasingly stronger...

Acetal-dehyde-fx

GBPUSD has traded below 1.2676 – the September 2020 spike low – with the next support level around 1.2585. The gains do not include the previous consolidation channel high of 1.2800 before the psychologically important level of 1.3000 emerges. The volatile price action that has occurred since the previous long-term trend was broken, highlighting the sensitivity to...