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Tag Archives: dollar

AUD/USD extends falls on Fed minutes – lines to watch

The Australian dollar was already the weakest link. We outlined three reasons for the weakness and now the pair dropped on the other driver of the pair: the USD. The Fed went to the hawkish side, leaving a wider door open for a June rate hike. While they remain data dependent, the bullish tone comes...

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NZD/USD features a double top, and with favorable conditions

NZD/USD is a currency pair overlooked by technical and fundamental traders alike, but it certainly features interesting patterns, including technical ones. There is a reason why it appears on the list of most predictable currency pairs. 0.7050 was first approached in mid April: the pair advanced gradually to ...

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UK manufacturing PMI falls to contraction – GBP/USD slides

Significantly worse than expected data in the UK: the manufacturing purchasing managers’ index dropped to 49.2 points, under the 50 point threshold separating growth and contraction. GBP/USD falls from the sky high levels of to 1.4740. Update: the drop extends. In many cases, the effect of UK data is strong but relatively short-...

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US manufacturing sector still limping along

The ISM manufacturing PMI came out at 50.8 points, just 0.8 above the 50 point threshold that separates growth from contraction. While this is still better than levels seen a few months ago, it is still quite poor and also below expectations that stood on 51.6. It is also short ...

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Elliott Wave Analysis on EURUSD and USDCAD

EURUSD EURUSD has turned up in mid-March making the bullish price structure much more complicated. We are looking at the big blue wave C-circled, that can be finished now if we consider sub-waves on the 4h chart where we ...

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EURUSD: Complex correction in progress

EURUSD was moving higher in March reaching levels around 1.1400 at the end of the month which means that the recent push up is part of a complex correction from 1.0518. We see a structure with seven legs, a double zigzag that represents wave C-circled ...

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