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GBPUSD is Unlikely to Break Above Resistance at 1.34

Net-Long Traders Remain Above 70% GBPUSD: Retail trader data shows 71.0% of traders are net-long with the ratio of traders long to short at 2.45 to 1. In fact, traders have remained net-long since Apr 20 when GBPUSD traded near 1.42353; price has moved 5.8% lower since then. The number of traders net-long is 1.6% […]

Bullish USD/CAD Sequence Undermined by RSI Divergence

Canadian Dollar Talking Points USD/CAD spikes to a fresh weekly high as updates to Canada’s Employment report dampens bets for an imminent Bank of Canada (BoC) rate-hike, but the near-term outlook has become clouded with mixed signals as the Relative Strength Index (RSI) appears to be deviating with price. USD/CAD Retains Bullish Series Following Dismal […]

AUD/USD Forecast: Higher-Lows to Keep Trendline Resistance on Radar

Australian Dollar Talking Points AUD/USD pullbacks back from the weekly-high (0.7677) as Australia’s Trade Balance surplus narrows more-than-expects in April, but recent price action raises the risk for a larger recovery as the exchange rate breaks out of narrow range. AUD/USD Forecast: Higher-Lows to Keep Trendline Resistance on Radar The Australian dollar is back under […]

GBP/USD Rate Risks Larger Rebound on Hawkish BoE Comments

BRITISH POUND TALKING POINTS The British Pound pares the decline from earlier this week following a batch of positive data prints coming out of the U.K. economy, and GBP/USD stands at risk of extending the advance from the May-low (1.3204) as a growing number of Bank of England (BoE) officials show a greater willingness to […]

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