February 2015

The European session lacked major news releases, leaving the focus on the US session which had a slew of economic data releases. As a result, most major currency pairs were rangebound during the European session until the early US session…

The semi-annual testimony of Federal Reserve Chair Janet Yellen on monetary policy before Congress was roughly in line with expectations. Yellen was cautious not to create expectations that the Fed was preparing to hike interest rates…

EUR/GBP hit a new 7-year low of 0.7315. The outlook remains bearish for the pair as it remains below minor resistance at 0.7458. A break above this level would however weaken the bearish bias. Meanwhile, a break below the low of 0.7315…

Further indications are being noticed regarding a possible trading range for WTI Crude Oil between $55 and $48 taking shape following the commodity bouncing away from $48 for the second successive day. WTI Crude Oil has even advanced to…

The USD is drifting lower against its trading partners on Wednesday, with this being in response to the complete contrast in opinion as to whether the beginning of Janet Yellen’s two-day testimony can be perceived as dovish or hawkish. In…

USD/JPY maintained losses after Fed Chair Yellen’s noncommittal stance towards tightening and lower US yields. The pair moved off from 119.00 to 118.62. EUR/JPY fell back from 135.63 to 134.54 after the EU-Greece deal was confirmed in…

NZD/USD appears to show signs of reversing. The corrective move up from the 4-year low of 0.7175 stopped at a high of 0.7572 on February 18. Since then prices turned back down and are heading towards immediate support at 0.7444, provided by…

The USD/JPY moved higher extending above the Tokyo high in making 119.59 in early North American AM trade. Momentum on the daily chart is positive, and both the 20- and 50-day moving averages are holding up as supports, presently sitting at…

The USD is continuing to drive itself higher against currencies and commodities before the beginning of Janet Yellen’s two-day testimony ahead of the US Congress. There is no doubting that Janet Yellen will be heavily quizzed regarding when…