On the chart some harmonic patterns along with wolfe wave and RSI divergence are seen but please wait for price return into channel to execute trade. First target is 1.012 and then second one is 0.9864 In economic news, domestically, Euro Zone economic sentiment rebounded in November slightly more t

USD/CNY lacks a clear directional bias on Monday.  The PBOC keeps one- and five-year interest rates unchanged.  The pair looks oversold and due for a corrective bounce.  The People's Bank of China's (PBOC) decision to keep interest rates unchanged fails to elicit a reaction from the USD/CNY pair. 

Photo: Standard Chartered Enforcement Directorate, the Indian anti-money laundering agency, has slapped Standard Chartered bank with a 1 billion rupees ($13.6 billion) fine for breaking the country’s foreign exchange rules in a 2007 local bank takeover deal. The orders for the fine was passed in A

Weekly Forecast (August 17 - 21) Uptrend scenario The uptrend may be expected to continue, while market is trading above support level 12.9, which will be followed by reaching resistance level 13.8. Downtrend scenario An downtrend will start as soon, as the market drops below support level 12.9, whi

RBA minutes fail to elicit a reaction from Aussie dollar pairs.  AUD/JPY remains vulnerable to risk-off moves in global equities. AUD/JPY is barely moving in response to the Reserve Bank of Australia’s August policy minutes released soon before press time. The minutes did not offer hawkish or dovis

Nishimura commenting following the release of the very poor eGDP numbers earlier: Japan GDP preliminary for Q2 -7.8% q/q (vs. expected -7.5%) Comments: Japan's economy in severe state but GDP contraction smaller than Europe, US economies hope recovery in US, Europe, Chinese economies drive up ja

The Dollar The dollar peaked on day 14.  It formed a swing high and closed below the 10 day MA the next day to signal the daily cycle decline.   The dollar printed its lowest point on Thursday, day 20, placing it in the early part of its timing band for a daily cycle low.  While the dollar did form

Slightly softer tones as we get the session going Eurostoxx -0.5% Germany DAX -0.5% France CAC 40 -0.7% UK FTSE -0.6% Spain IBEX -1.1% The late drop in US stocks yesterday is among the factors weighing on sentiment here, though US futures are still keeping near flat levels as the European cash mar

According to the latest World Gold Council (WGC) report, gold-backed exchange-traded funds (ETF) recorded their seventh consecutive month of positive flows. Additional takeaways “H1 of 2020 closing with a record US$40bn of net inflows. Gold ETFs added 104 tonnes in June. Taking global holdings to al