Welcome to this week’s Market Blast Fundamentals where we will look at GBPUSD, EURGBP, WTI (US Oil), USDCAD, the VIX, and the NASDAQ.
Read MoreECB, BoC, and BoJ Interest Rate Decisions this Week.
on July 13, 2020
| By Brad Alexander
|
EURUSD,
GBPUSD,
XAUUSD,
Market Blast Videos,
Gold,
Brexit,
Interest Rate Decision,
Fundamental Analysis,
EURCHF,
Coronavirus
Welcome to this week’s Market Blast Fundamentals where we will look at Gold (XAUUSD), GBPUSD, EURGBP, EURJPY, and EURUSD.
Read MoreCrude Edging Higher. New Zealand Interest Rate this Week.
on June 22, 2020
| By Brad Alexander
|
USDJPY,
GBPUSD,
Brexit,
NZDUSD,
USDMXN,
USOil,
WTI,
Brent Crude,
Coronavirus,
Market Blast
Welcome to this week’s Market Blast Fundamentals where we will look at USDJPY, GBPUSD, USDMXN, NZDUSD, and WTI (US Oil).
Read MoreNew COVID-19 Cases Affect Markets. Brexit Back in Focus.
on June 15, 2020
| By Brad Alexander
|
USDCHF,
USDCAD,
DE30,
UKOil,
Brexit,
EURGBP,
JP225,
Brent Crude,
DAX,
Nikkei,
Market Blast,
COVID-19
Welcome to this week’s Market Blast Fundamentals where we will look at USDCHF, EURGBP, the Nikkei, the DAX, USDCAD, and Brent Crude (UK Oil).
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In the last few weeks or so the GBPUSD has enjoyed some solid support from the key support level of 1.30 which has allowed it to push higher and reach a two week high above 1.31 last week and again push off strongly to finish this week. In the last few weeks the 1.30 level has been under pressure as the GBPUSD eased away from a two week high above 1.32 and looked poised to move lower through 1.30 before some support kicked in which has held it up well.
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In the last week or so the GBPUSD has eased away from a two week high above 1.32 back down to the key support level of 1.30 where it is currently enjoying more support. It has shown some more volatility of late when it surged higher to its highest level in more than 18 months above 1.35 before falling sharply back down to the current key level of 1.30 which has been significant for the last three months.
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As much as things change, they also stay the same. 12 months ago the dominant issues in global financial markets were the trade war between China and the United States, what the United States Federal Reserve was going to do next after having lifted interest rates, and whether a Brexit deal could be done before the departure date of 29th March 2019.
Fast forward 12 months later, and we are still observing the trade war, we are closely monitoring the U.S. Federal Reserve and Brexit remains unresolved.
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In the last week the GBPUSD has fallen sharply from an 18 month high above 1.35 back down to the current key level of 1.30 which has been significant for the last two months. Only a few weeks ago the GBPUSD broke through the resistance level at 1.30 and moved to a nine month high just above 1.32, before the surge higher to start this week. For the previous six weeks or so the GBPUSD had traded in a narrow range consolidating under resistance at 1.30, which has become a level of significance, and as expected is now offering support now that the sterling has declined.
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In the last week or so the GBPUSD has broken through the significant resistance level at 1.30 and moved to a nine month high just above 1.32. For the previous six weeks or so the GBPUSD had traded in a narrow range consolidating under resistance at 1.30, which has become a level of significance, and which is now likely to offer support should the sterling decline.
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In the last two days the GBPUSD has surged through the key 1.30 level to reach its highest level in more than seven months. Given the break, the 1.30 level will be expected to provide some support should the sterling decline. Leading up to the surge for the last six weeks or so, the GBPUSD traded in a narrow range consolidating under resistance at 1.30, which has become a level of significance as a result.
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