May 2016

Recently, EUR/NZD has been moving downwards. The price tested the level of 1.6505 in a high volume. According to the 30M time frame, I found a potential double bottom formation. Be careful when selling and watch for potential buying opportunities. Take…

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The U.S. Commerce Department released personal spending and income figures on Tuesday. Personal spending rose 1.0% in April, exceeding expectations for a 0.7% gain, after a flat reading in March. It was the biggest rise since August 2009. March’s figu…

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USD/JPY is expected to trade with a bullish bias above 110.60. Overnight U.S. stock markets were closed on the occasion of the Memorial Day holiday.In Europe, the European Commission reported that the Eurozone Consumer Confidence Indicator rose to -7 i…

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Statistics Canada released GDP (gross domestic product) growth data on Tuesday. Canada’s GDP growth declined 0.2% in March, missing expectations for a 0.1% fall, after a 0.1% decrease in February. On a quarterly basis, GDP rose 0.6% in the first quart…

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USD/CHF is under pressure. The pair stays below its key resistance at 0.9935 and looks for choppy price action with a bearish bias, as both the 20-period and 50-period moving averages are badly directed. Even though a technical rebound cannot be ruled …

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Volkswagen reported Q1 FY 2016 revenues of EUR 50.96 bln, down 3.4% y/y. The decline was primarily attributable to the fall in vehicle unit sales and negative exchange rate effects. The company’s operating profit increased by 3.4% y/y to EUR 3.44 bl…

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NZD/USD is expected to trade with bullish bias. The pair managed to break above its previous key resistance at 0.6705, which should confirm a bullish reversal. The 20-period moving average also crossed above the 50-period one. Besides, the relative str…

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