Market Commentary

EURUSD - Returns to Trading Range Below 1.15 as Draghi Warns on Growth

on January 18, 2019 | By Stuart McPhee | EURUSD

In the last week or so the EURUSD has dropped from a three month high near 1.1570 and returned back below the key 1.15 level. For the last couple of months now the EURUSD has been content to trade within a narrow range enjoying support from the other current key level of 1.13 and meeting resistance at the 1.15 level. It is interesting to note that its recent excursion above 1.15 didn’t last long as it was quickly sold down at those three month highs.

GBPUSD - Near 1.29 after No Confidence Vote and Despite Massive Brexit Defeat

on January 17, 2019 | By Stuart McPhee | GBPUSD

In the last month the GBPUSD has slowly but steadily climbed higher from a two year low below 1.25 up to the current key level of 1.27 and beyond, reaching a two month high above 1.29 in the last few days. As expected it met some resistance from the 1.27 level in the last few weeks as multiple attempts to push higher were thwarted and now that it has cleared, it is now experiencing some support from this same level.

AUDUSD - Rallies to Five Week High Above 0.72 Despite RBA Warnings

on January 16, 2019 | By Stuart McPhee | AUDUSD

In the last couple of weeks the AUDUSD has done very well to rally from its lowest level in many years below 0.67 up to a five week high in the last few days back above 0.72. It has eased a little in the last couple of days however it has done well to move back above the key level of 0.7150, and this level may provide some additional support like it has previously. The AUDUSD didn’t finish 2018 very well falling strongly throughout December to hit a three year low just below 0.7050 before dropping sharply down to below 0.67 and regaining lost ground just as quickly as it fell.

Hold on tight - EUR and GBP - Brexit volitility set to spike with crucial uk house of commons vote

on January 15, 2019 | By Graeme Watkins | Brexit, Market Recap, News

Today 15th January 2019 at approximately 19:00 UK time voting will begin on Prime Minister Theresa May's much maligned Brexit deal.

Market Blast Video - 15.01.2019

on January 15, 2019 | By Brad Alexander | Market Blast Videos

Today’s focus is on the Pound Sterling of course with the UK Parliament voting on the Brexit deal and even the economic calendars are predicting the worst.

The vote will take place tonight at 7 pm to 9 pm UK time and we should expect volatility and low liquidity.

XAUUSD - Stuck at Resistance at $1300 as China Disappoints

on January 15, 2019 | By Stuart McPhee | XAUUSD, Gold

In the last week or so gold has met stiff resistance at the current key level of $1300, after enjoying a healthy surge higher. This push higher saw gold move to a six month high just shy of $1300 after enjoying some solid support from the key $1240 level and the $1200 level before that. For a couple of weeks before the push higher gold consolidated a little resting on support at $1240 after making a strong rally back towards this level, which had become significant when it offered reasonable resistance halting its climb a couple of months ago.

Market Recap: 7 - 11 January

on January 14, 2019 | By Stuart McPhee | USDCAD, GBPUSD, US30, UKOil

On Tuesday last week we covered UK Oil which since writing has continued to move higher to multi-week highs above $62, before easing a little to start the new week. The current key level remains $58, as it has met some resistance at this level around a week ago and eased lower, which was to be expected after this level offered strong support to oil to finish last year.

GBPUSD - Looking for Support at 1.27 Again as Brexit Future Unknown

on January 11, 2019 | By Stuart McPhee | GBPUSD

In the last month the GBPUSD has slowly but steadily climbed higher from a two year low below 1.25 up to the current key level of 1.27 and beyond. As expected it met some resistance from the 1.27 level in the last few weeks as multiple attempts to push higher were thwarted and now that it has cleared, it is now experiencing some support from this same level. In early December, the 1.27 level gave way to immense selling pressure, after the sterling was again enjoying much needed support from this level as it had firmly established as a key support level as the currency pair had enjoyed considerable support from this level on several occasions in the few months prior.

BTCUSD - Consolidates Around $4000

on January 10, 2019 | By Stuart McPhee | Bitcoin, BTCUSD

In the last few weeks Bitcoin (BTCUSD) has been content to trade right around the current key level of $4000 as the volatility has almost halved in the last month. Several weeks ago Bitcoin was able to rally higher and move away from the support level at $3300 pushing up to a three week high just above $4000 before commencing the consolidation period. In the couple of weeks prior to the rally, it consolidated a little as it received some much needed support from around the $3300 level, after dropping sharply in November. This drop saw BTCUSD drop to its lowest levels for 2018 after having been quite content to trade right below the key level of $6500 for many weeks. Up against immense selling pressure it dropped sharply to around $5500 before consolidating for several days before dropping even further to below $4300 before the November drop.

USDCAD - Drops Sharply from 18 Month High above 1.36 as BOC Sits

on January 10, 2019 | By Stuart McPhee | USDCAD

The last week or so has seen the USDCAD move sharply from an 18 month high above 1.36 down to the current key level of 1.32, which has remarkably seen a significant move of more than 400 pips in around six days. Throughout the last 12 months the 1.32 level has been significant for the currency pair so you could reasonably expect to see some buying to support the price. For several months in the second half of 2018 the 1.32 level was significant repelling prices lower although in November this level was cleared, which then saw the 1.32 level propping up prices.

EURUSD - Returns to Trading Range Below 1.15 as Draghi Warns on Growth

GBPUSD - Near 1.29 after No Confidence Vote and Despite Massive Brexit Defeat

AUDUSD - Rallies to Five Week High Above 0.72 Despite RBA Warnings

Hold on tight - EUR and GBP - Brexit volitility set to spike with crucial uk house of commons vote

Market Blast Video - 15.01.2019

XAUUSD - Stuck at Resistance at $1300 as China Disappoints

Market Recap: 7 - 11 January

GBPUSD - Looking for Support at 1.27 Again as Brexit Future Unknown

BTCUSD - Consolidates Around $4000

USDCAD - Drops Sharply from 18 Month High above 1.36 as BOC Sits

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