Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
EUR/GBP: will it break the channel's roof?
Information is not investment advice
While the Brexit talks are going at minimum speed and the time is running away, EUR/GBP offers interesting layout to trade.
On the H4 chart below, you will see that since the middle of September, the pair has been slowly descending from the heights above 0.92 to the current area above 0.91. At the moment, it is challenging the downtrend’s upper border at 0.9110. If bulls succeed to break it, the resistance of 0.9150 will be the next target. However, only reaching 0.92 would mean that the downward channel is broken.
The alternative scenario is the downward bounce. In this case, EUR/GBP will go down all the way from 0.9110 to at least 0.9040. In fact, 0.90 would be a more likely center of gravity for bears.
A United Nations agency is warning that the central bank’s actions create a high risk of pushing the global economy into recession.
Inflation in New Zealand is the highest since 1990, edging to 7.3% in Q2 2022. The currency is under heavy pressure as the Reserve Bank of New Zealand is trying to reverse the inflationary spiral. The week ahead will give us a valuable clue about the country’s monetary policy, and we are here to talk about that.
In the middle of September 2022, the Canadian dollar has fallen to a 2-year low against the USD.