The light sweet crude oil market initially pulled back just a bit to test the $62 level, a level that’s been important for several weeks. If the market were to break down below there, then we could open up the possibility of a move all the way down to the $60 level. But I think…
The Aussie dollar has gone back and forth during the early hours here on Tuesday. As we are trying to find a certain amount of momentum to eventually go higher. All things being equal. This is a market that will be very sensitive to risk appetite. After all, the Australian dollar is a commodity currency…
The US dollar initially rallied against the Canadian dollar during the early hours on Tuesday, but we have seen the market turn around and show signs of hesitation. Whether or not that continues to be the case remains to be seen, but ultimately this is a situation where we find ourselves in a fairly tight…
During the trading session on Tuesday, we have seen the US dollar go back and forth in a fairly tight range against the Swiss franc. It is worth noting that the 0.79 level is offering significant support, and we do find ourselves still above that level. If we were to break down below that level,…
The EUR/USD pair trades just shy of the 1.1800 mark, still confined to familiar levels as market participants await fresh clues on United States (US) economic progress and the words from Federal Reserve (Fed) Chair Jerome Powell.
GBP/USD finds it difficult to keep its footing following Monday’s recovery and trades marginally lower on the day at around 1.3500. The technical outlook suggests that the pair remains bearish in the short term.