News & Analysis
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Facebook drags tech, NASDAQ 1.8% lower – Micro Focus 46% tank drags Europe lower; Brexit talk drives GBP higher – ECB boosts EUR – Majors fight back to JPY
Brexit sent the GBP surging, the GBPUSD added 90 pips and tested 1.4090. The GBPJPY added 120 pips but currently sits below 148.80 resistance. The EUR jumped after a report showed shifting rate hike discussion. The EURUSD jumped closing 55 pips higher and the EURJPY closed 80 pips higher.read more
Traders, a shift in sentiment and balance has been brewing since last week. When we started seeing higher low’s setting up on multiple JPY pairs. What looked like very entrenched trends have been breached today after risk currencies and the USD started to break their long-term downtrends. The higher low’s are good signs but we can’t call a trend change until…..read more
After seeing several days of gains indices have started to stall at resistance levels. Buyers look to be starting to run out of puff. Lower highs and trend continuation patterns continue to hold. This week is a busy one data wise with a lot of traders looking to Thursday mornings FED meeting. Rates are expected to rise to 1.75% we would think this rise is priced in.read more
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