- Accounts
- Accounts
- Compare Our Accounts
- About
- Products
- Platforms
- Tools
- Tools
- Autochartist
- MT4 Genesis
- VPS
- News & Education
- News & Education
- News & Analysis
- Economic Calendar
Forex
USDJPY Analysis – Yen under pressure as the BOJ keeps rates and policy unchanged
In a bit of an anti-climax in an exciting week in Central Bank action for FX traders today saw the BoJ keep the status quo of an ultra-accommodative monetary policy as expected. But disappointing the Yen bulls was the BoJ offering no clear sign of a shift in its policy stance in the near term after some speculation a clearer hint to normalization o...
September 22, 2023
Read More > EURUSD at key level going into US interest rate decision.
EURUSD is once again at an interesting technical level coming into key US data this week. After holding firm in a rising channel for most of 2023, price fell away in early September. This coincided with the price also falling below the 200 SMA which also acted as support multiple times in 2023 so far. After bouncing nicely on the first hori...
September 19, 2023
Read More > ECB Preview – Euro steady ahead of rate decision – EURUSD analysis
EURUSD is heading into today’s knife-edge ECB rate decision lacking any real direction after Wednesdays CPI inspired choppy performance. Markets are split on today’s ECB rate decision with money markets pricing around a 65% chance of a 25bps rate hike, but a slight majority of economists polled by Bloomberg expecting a hold. Against this backdr...
September 14, 2023
Read More > USD and yields firmer ahead of US CPI
The USD has remained bid today heading into today’s pivotal US CPI where both the headline M/M and Y/Y figures are expected to show an increase over Julys readings. This is the last major inflation figure before next weeks FOMC meeting where the Fed is widely expected to hold rates (Fed Funds futures pricing in only a 7% chance of a 25bp hike). ...
September 13, 2023
Read More > FX analysis – USD bounces back, JPY, GBP and AUD all under pressure as risk sentiment sours.
Tuesdays FX session is turning out to be a mirror image on Monday’s session Where the USD was battered against its major peers. Today, seeing almost a full retrace of those moves as USD is once again king. The Dollar Index (DXY) respected the upward trendline support that has led DXY higher since July (with the exception of a brief break in ea...
September 12, 2023
Read More > FX Analysis – JPY Bid on Ueda Comments, GBP Reclaims Key Level Ahead of Jobs Figures, AUD breaks range.
Comments from Bank of Japan governor Ueda over the week saw USDJPY gap significantly lower at the Asian session open. The pair now trading well under 147 from eight-month highs at Fridays close. Ueda commented that the BoJ cannot rule out that they might have sufficient data by year-end to determine whether they can end negative rates, this brin...
September 11, 2023
Read More > EU / UK open FX analysis – AUD, JPY, USD, EUR
EU and UK indices are looking to open slightly stronger despite a weak lead from the Asian session. Aussie and Asian indices finish in the red after US-China tech-related frictions and disappointing Japanese GDP revisions weighed on risk sentiment. Asian session wrap - FX Markets The USD was softer with DXY retreating from extreme RSI overbou...
September 8, 2023
Read More > USD/CAD failed to break resistance as BoC keeps rates on hold
The USD/CAD pair experienced a relatively uneventful session after Bank of Canada (BoC) decided to keep interest rates on hold. However, what caught the attention of traders was the hawkish tone in the central bank's language. Similar to many central banks globally, the BoC is cautious about raising rates further until they thoroughly assess the...
September 7, 2023
Read More > AUDUSD breaks key support, sets a new low for 2023 after RBA holds rates
The recent resilience in AUDUSD, which has seen the pair bounce off and hold stubbornly above the 0.6400 major support level came to a dramatic end in today’s session. Risk aversion, disappointing PMI figures out of China and a hold in rates from the RBA all contributing to a break down in the exchange rate seeing AUDUSD break the recent support ...
September 5, 2023
Read More > GO Markets partners with Currencycloud to accelerate access to a global market
GO Markets is pleased to announce our partnership with Currencycloud, the experts in simplifying business in a multi-currency world, to streamline and automate client deposits and withdrawals while benefiting from real-time, API-driven competitive FX rates. By integrating Currencycloud’s APIs, GO Markets can now offer a seamless and cost-e...
August 30, 2023
Read More > Asian Open – FX analysis – USD and yields tumble, risk currencies rally on weak US data
USD was firmly in the red in Tuesdays session, with the US Dollar Index (DXY) having it’s largest drop since mid-July. A rally in DXY during the Asian and early European session dramatically reversed after big misses on the JOLTS report and consumer confidence saw a dovish repricing in rates markets and a risk-on back in charge. Stocks rallied an...
August 30, 2023
Read More > AUDUSD Reacts in Anticipation of Fed Chair Powell’s Talk
In yesterday’s session, the AUDUSD pair experienced a decline of nearly 1%, erasing the gains it had achieved over the past few days. This retracement arrives as the USD displays signs of renewed strength ahead of an upcoming speech by Fed Chair Jerome Powell. Market participants are eagerly awaiting Powell's remarks for to see if he drops any hi...
August 25, 2023
Read More > FX Analysis – USD rallies as markets turn risk-off ahead of Jackson Hole
USD was higher on Thursday, with The Dollar Index bouncing back strongly from Wednesdays decline, breaking through the resistance level of 103.60 to touch on the weekly highs at the big 104 level and hitting overbought levels on the daily RSI. Market risk-off, rising yields and a lower than forecast jobless claims figure giving the USD a boost as g...
August 25, 2023
Read More > FX analysis – USD drops, Gold pops on soft data, falling yields
A raging US equity market fuelled by soft data, a drop in treasury yields and blowout earnings from NVDA (which saw its stock price hit an all-time high) saw risk-on trading through Wednesdays session. USD was choppy on Wednesday with an initial rally in DXY, which saw it briefly pierce the major resistance at 103.60, dramatically reversing cour...
August 24, 2023
Read More > EURUSD tests near term support
After reaching the high of 1.1250, last tested in 2022, the EURUSD has been trading steadily lower and currently sits along the 1.0850 support level, formed by the 61.8% Fibonacci retracement level and the previous swing low from early July. Looking at the technical aspects, the Ichimoku cloud indicates continued bearish pressures, with the top ...
August 23, 2023
Read More >