Short-Term Price Action Edging North of $1.31 As evident from the H1 timeframe, buyers and sellers are squaring off around the $1.31 level, following the (almost) one-sided push north after retesting the widely watched $1.30 psychological base in early London. Overhead resistance is at $1.3154, while support can be seen at $1.3055, together with a…
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On the daily timeframe, however, support is not visible until $1.2665, indicating that further downside could be seen for the pair. In terms of resistances, $1.3001 calls for attention on the daily timeframe, followed by weekly resistance at $1.3134. From the H1 chart, the US cash open welcomed an AB=CD harmonic support level at $1.2722…
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$1.25 Resistance? Out of the H1 timeframe, I see the unit elbowed through $1.25 recently and is poised to retest the lower boundary as resistance. I know some traders will be watching the structure to the left of the price between $1.2427 and $1.2453 to form potential support (blue curve), though trendline support taken from…
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GBP/USD Direction Given the scope to post additional underperformance, GBP/USD is likely to cross beneath H1 support from $1.2356 and target $1.23, followed by daily support mentioned above at $1.2272. A H1 close lower, therefore, could ignite breakout selling. (Chart: TradingView) Last week's report: Daily Report: Commodities displaying bearish tone... Read More Disclaimer: The information…
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GBP/USD Currency Pair Projecting Further Upside Kicking things off with a look at where we are on the weekly scale, buyers appear reluctant to push beyond YTD tops. Still, the weekly chart demonstrates scope to approach as far north as resistance from $1.2767, a long-term horizontal base sharing chart space with a trendline resistance from…
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Economic Data for the Week Ahead: Monday 3 April US ISM Manufacturing PMI for March at 3:00 pm GMT+1 Markets welcome the latest manufacturing PMI data from the US, expected to marginally tick lower to 47.1 in March from February’s 47.7 figure. However, the forecast range resides between 48.0 and 44.4. Tuesday 4 April Reserve…
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OIL Oil is experiencing a perfect storm in which coronavirus is destroying the demand side, while supply is overwhelmed by the deluge on offer from Saudi Arabia. As a result, the price crashed to an historic low at $20, before attempting a rebound to $23. This scenario will probably not last for long, as for…
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Even if you don’t follow the economic news or any news reports at all, you’ve heard about the biggest breakup in modern history – the UK leaving the EU for good. AMarkets have shared their thoughts on this eternal topic in an exclusive piece for LeapRate. Brexit is not another run-of-the-mill separation deal, because two…
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On January 2, 2018 Nadex submitted to the Commission an emergency notice pursuant to Commission Rule 40.6(a), that on trade date Tuesday, January 2, 2018, the underlying GBP/USD cash market experienced a period of decreased activity at the open of the Nadex derivative contracts. The expiration value calculation process under ‘slow’ conditions would collect midpoints…
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