XAU/USD struggles around $1,870, upside looks likely on downbeat US NFP bets

Gold price has faced barricades at around $1,870.00 amid anxiety over the US NFP. Lower ADP Employment Change numbers are advocating a vulnerable performance from the US NFP. The DXY has slipped below 101.70 on positive market sentiment. Gold price (XAU/USD) is displaying a lackluster performance in the Asian session as investors are awaiting the … Read more

Sentiment Indicators: Using IG Client Sentiment

Sentiment Indicators: Using IG Client Sentiment The IG Client Sentiment (IGCS) is unique, proprietary and potentially helpful to traders. The article will outline the following illustrative points: What is IG Client Sentiment (IGCS)? IG Client Sentiment (IGCS) is a tool that traders can use in conjunction with a broader technical and/or fundamental strategy. IGCS incorporates … Read more

AUD/JPY declines towards 94.00 on positive PMI data, RBA in focus

AUD/JPY is scaling lower towards 94.00 as the release of the PMI data advocated long-liquidations. The anxiety over the interest rate decision by the RBA has inserted volatility into the counter. A rate hike by 25 bps is expected from the RBA next week. The AUD/JPY pair has witnessed selling pressure after failing to sustain … Read more

US ban on Xinjiang goods to ‘severely disrupt’ ties

The US’ law banning imports from Xinjiang would “severely” damage ties and escalate a dispute between the nations over human rights, China’s Foreign Ministry spokesman Zhao Lijian warned late Thursday. Key quotes “If the act is implemented, it will severely disrupt normal cooperation between China and the US, and global industrial and production chains.” “The … Read more

AUD/USD retreats from monthly top to 0.7250 on mixed Aussie data, sentiment ahead of US NFP

AUD/USD pares the biggest daily gains in a fortnight around 1.5-month high. Australia’s housing numbers, AiG Performance of Construction Index eased, S&P PMIs improved. US-China headlines, pre-NFP anxiety exert additional downside pressure. AUD/USD bulls take a breather around 0.7250, after refreshing the six-week high, amid the market’s indecision on early Friday. In doing so the … Read more

Eases below 130.00 inside bullish pennant

USD/JPY remains pressured after reversing from three-week high. Bullish chart pattern, steady RSI keeps buyers hopeful. Weekly support line, 100-HMA add filters to the downside. USD/JPY struggles to extend the previous day’s pullback around 129.80 during the initial hour of Tokyo opening on Friday. In doing so, the yen pair bounce off the 50-HMA inside … Read more

Trading Forex at the News Release

Reviewed by Nick Cawley on December 10, 2021. Trading forex news releases rrequires a tremendous amount of composure, preparation and a well-defined strategy. Without these qualities, traders can easily get swept up in all the excitement of a fast-moving market to their detriment. This article provides useful strategies on how to trade forex news during … Read more

GBP/JPY renews monthly high around 163.50 amid firmer risk-on mood

GBP/JPY picks up bids near one-month top, grinds higher after printing five-day uptrend. Market sentiment improves on softer data, preparations for NFP. Hawkish calls from the BOE, versus BOJ’s favor of easy money, underpin upside momentum. Off in the UK, a light calendar restricts moves but risk catalysts are the key to track for fresh … Read more

Bulls struggle below 1.2600, have a bumpy road ahead

GBP/USD remains sidelined after bouncing off the 21-DMA support. 10-DMA restricts immediate upside amid receding bullish bias of MACD signals. Descending trend line from February, 50-DMA stand tall to challenge further advances. GBP/USD portrays the typical pre-NFP trading lull as buyers and sellers jostle around 1.2580 during Friday’s Asian session. The cable pair reversed from … Read more