EUR/JPY is trapped in a pennant pattern, as seen on the 4-hour chart.
A breakout would expose overhead resistance at 124.90.
EUR/JPY has carved out a contracting triangle or pennant pattern on the 4-hour chart.
A breakout, if confirmed, would signal a resumption of the rally from the July 10 low
Economist Barnabas Gan at UOB Group noted that GDP figures for the second quarter in Singapore could be revised lower.
“Singapore’s industrial production disappointed market expectations with a 6.7% y/y c
Photo: FM, Financial Conduct Authority
The UK financial markets regulator, the FCA, has found itself in hot water over significant shortcomings in handling of investors’ complaints as its relevant capacity were not coping with “the volume and complexity.”
In a report published by the Complaints Co
Manufacturing PMI forecast to rise to near expansion.
Factory sector had been in a two year decline.
Pandemic collapse projected to be erased in June.
May retail sales and consumer confidence in May and June could encourage manufacturing.
Good PMI numbers will further ease the recent risk-aversion d
The dollar dropped back after a short-lived pop higher at the open in Asia-Pacific trading today, inversely correlating with a 0.7%-plus rally in S&P 500 futures, which pointed to an opening gain on Wall Street that would more than reverse Friday's losses. The narrow trade-weighted USD index (DX
The dollar has been trading mostly narrow ranges against most other currencies, though gained again the pound, which came under fresh pressure, extending a two-week phase of underperformance that the UK currency has been seeing. Cable printed an 18-day low at 1.2378, while EUR-GBP posted a three-wee
The liquidity-driven rally in the European stock markets looks overstretched.
The Stoxx 600, a stock index of European stocks introduced in 1998, rose to its highest valuation in more than a decade during the second week of June, according to Bloomberg.
"Investors may now wait a while for either t
The Tidal Shift Strategy has just sold AUDJPY at 73.016. The system recommends entering this trade at any price between 72.615 and 73.417. The signal was issued because our Speculative Sentiment Index has hit its most extreme positive level for the past 145 trading hours at
Estonia's consumer prices declined for the second straight month in May, data from Statistics Estonia showed on Friday.
The consumer price index fell 1.7 percent year-on-year in May, following a 0.8 percent decrease in April.
"The last time the change of the consumer price index in comparison with t
USD/JPY Outlook (02 June 2020)
Overall, USD/JPY is trending upwards. Recently USD/JPY has been moving below the resistance zone of 107.800. Currently, USD/JPY is testing the resistance zone of 107.800 and the next support zone is at 106.200. Look for selling opportunities of USD/JPY
DXY comes under pressure and drops to the 99.60 area.
US-China trade talks expected to resume next week.
Non-farm Payrolls for the month of April are next on the docket.
The US Dollar Index (DXY), which tracks the greenback vs. a bundle of its main competitors, has broken below the 100.00 mark amid
European stocks are likely to open higher on Friday after a statement by the U.S. Treasury Department and Trade Representative's office said that U.S. and Chinese officials have held a phone call late on Thursday on the phase one trade deal signed between the two countries signed earlier this year.
Bullish bias above 10520.00.
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Pivot (invalidation): 10520.00
Our preference Long positions above 10520.00 with targets at 10680.00 & 10820.00 in extension.
Alternative scenario Below 10520.00 look for further downside with