DOORS LVL 50 REGISTRATION
Box 1896-00606, Nairobi, Republic of Kenya is regulated by the Capital Markets Authority of the Republic of Kenya with a Non-Dealing Online Foreign Exchange Broker with license number 135.Įxinity UK Limited (with registration number 10599136 and registration address at 1 st. 46614.Įxinity Capital East Africa Ltd (with registration number PVT-ZQU6JE7 and registration address at West End Towers, Waiyaki Way, 6th Floor, P.O. Talking technicals, a breakout above $1750 could signal a move towards $1784.įXTM brand is authorized and regulated in various jurisdictions.įorexTime Ltd (with registration number HE 310361 and registration address at 35, Lamprou Konstantara, FXTM Tower, 4156, Kato Polemidia, Limassol, Cyprus is regulated by the Cyprus Securities and Exchange Commission with CIF license number 185/12, licensed by the Financial Sector Conduct Authority (FSCA) of South Africa, with FSP No. A weaker dollar is likely to complement upside gains, pushing prices further away from $1700.
Reduced expectations over the Federal Reserve maintaining an aggressive approach on rates could provide zero-yielding gold some breathing room. A strong breakdown below 137.00 could pave a path back towards 134.50. Prices are trading below the 50, 100, and 200-day Simple Moving Average while the MACD trades below zero. A strong breakdown below 134.00 could open the doors towards 131.00.Īs the subtitle says, the EURJPY is experiencing lower lows and lower highs on the daily charts. Prices are trading below the 136.00 support level and could decline towards 134.00 which is above the 50-day Simple Moving Average.
We see a potential breakdown opportunity on the USDJPY. Should 0.7050 prove to be reliable resistance, prices may decline back towards 0.6850. A breakout above this point may open the doors towards 0.7150 and higher. The next key levels of interest can be found at the 50-day Simple Moving Average and 1.2350 resistance level.ĭollar weakness could propel the AUDUSD towards the 0.7050 level. This has been fuelled by a weaker dollar with further upside expected in the short to medium term. Should prices fail to conquer 1.0200, a move back to parity could be on the cards.Īfter bouncing within a range, the GBPUSD has finally experienced a breakout above the 1.2060 resistance level. A solid breakout and weekly close above this level could encourage a move higher towards 1.0350. There seems to be something about the sticky 1.0200 level which has acted as support and resistance over the past few days. Below this level, bears are likely to target 1.1630 and 1.1450.Ī weaker dollar could provide a lifeline for EURUSD bulls, keeping prices above parity for slightly longer before the fundamental forces eventually drag prices lower. A breakdown below the 50-day Simple Moving Average may open the doors towards 1.1700. We can see a similar scene playing out on the equally-weighted USD index. A breakdown below this level could signal the start of a bearish trend with 104.60 acting as the first target.
Taking a look at the technical picture, the Dollar Index (DXY) is under pressure on the daily charts with prices wobbling above 106.00.
If such a jumbo rate hike was unable to excite dollar bulls, then imagine how the currency may react when the Fed raises interest rates by the expected 50bps in September? The dollar weakened against every single G10 currency yesterday despite the 75bps rate hike. He also mentioned that the Fed may slow hikes at some time in the future… So according to the Fed chair, another “usually large” hike may be appropriate in September but this will be heavily influenced by economic data. However, it felt like markets were expecting a more hawkish Powell but instead offered a Powell who talked about rate hikes but left out details on timing. The central bank head said a lot of things, highlighting the strong labour markets but weak economic indicators and inflation risk. King dollar offered a muted response and was more concerned with comments from Federal Reserve Chairman Jerome Powell. Well, we got our answer yesterday evening after the Federal Reserve raised interest rates by 75bps for the second straight month to tame inflation. Earlier in the week, we questioned whether another jumbo Fed rate hike would be enough to satisfy dollar bulls.
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